Bracewell Represents WashingtonFirst Bankshares, Inc. in Private Placement

HOUSTON – Bracewell LLP represented WashingtonFirst Bankshares, Inc. (NASDAQ: WFBI) in a private placement of 1,377,219 shares of newly issued common stock, which raised approximately $20 million. The newly issued common stock includes both voting and non-voting common stock and brings the company’s total outstanding shares to 9,565,637 shares.

WashingtonFirst Bankshares intends to utilize the new capital primarily to support the continued growth of its wholly-owned subsidiary, WashingtonFirst Bank.

WashingtonFirst Bankshares is the parent company of WashingtonFirst Bank, a $1.3 billion bank headquartered in Reston, VA. With 17 branches in the greater Washington, DC metropolitan area, WashingtonFirst Bank is a community oriented bank that provides competitive financial services to local businesses and consumers.