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WFBI > SEC Filings for WFBI > Form 8-K on 26-Nov-2012All Recent SEC Filings




Change in Directors or Principal Officers, Financial Statements

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


C.E. Andrews was elected a director of WashingtonFirst Bankshares, Inc. (the "Company") at the regular meeting of the board of directors on November 19, 2012 to fill an existing vacancy on the board. Mr. Andrews will serve on the Audit Committee. Pursuant to the Company's articles of incorporation and Virginia law, Mr. Andrews will stand for re-election at the Company's 2013 Annual Meeting of Stockholders.

In connection with his election and consistent with the Company's standard compensation arrangements for non-employee directors, Mr. Andrews will receive an annual retainer of $1,500 plus unrestricted stock awards of 600 shares of the Company's common stock and will receive a fee of $100 for each special meeting of the board and each meeting attended in excess of ten meetings during the year and $100 for each committee meeting attended in person.

Mr. Andrews, age 60, most recently served as the President and Chief Operator of RSM McGladrey Inc., a subsidiary of H&R Block, Inc. He previously held positions with SLM Corporation and Arthur Andersen.

The Company issued a news release announcing the appointment of Mr. Andrews on November 26, 2012. A copy of the news release is included as Exhibit 99.1 to this report and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

Number Description

99.1 Press Release dated November 26, 2012

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