Bank of the James co-founder J. Todd Scruggs retires from board and executive roles effective Jan 5

BANK OF THE JAMES FINANCIAL GROUP INC

J. Todd Scruggs retired Jan 5, 2026 from boards of Company and Bank; also as Secretary, Treasurer, EVP and CIO.
Scruggs co-founded Bank of the James in 1998 with CEO Robert R. Chapman III and served as CFO through 2025.
His retirement is not due to any disagreement with the Company; no successor for Secretary/Treasurer or CIO named.
He was key to growth from $10M initial capital to over $1B in assets and 20+ Virginia branches.

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