BANK OF THE JAMES FINANCIAL GROUP INC 8-K

What Happened

• Bank of the James Financial Group Inc. announced in an 8-K that J. Todd Scruggs retired effective January 5, 2026. He stepped down as a director of the Company and its subsidiary Bank of the James and from his officer roles as Secretary and Treasurer of the Company and Executive Vice President and Chief Investment Officer of the Bank.
• The filing states Mr. Scruggs’ retirement was not the result of any disagreement with the Company regarding operations, policies, or practices. The Company attached a press release dated January 9, 2026 (Exhibit 99.1) announcing the retirement and expressed appreciation for his prior service, including earlier service as Chief Financial Officer.

Key Details

• Effective date of retirement: January 5, 2026.
• Individual: J. Todd Scruggs — roles vacated: Director (Company and Bank), Secretary, Treasurer, EVP and Chief Investment Officer.
• Filing notes no disagreement with the Company as the reason for departure.
• Press release announcing the retirement was attached as Exhibit 99.1 to the 8-K (dated January 9, 2026).

Why It Matters

• This is a material leadership change: investors should note the bank has lost a long‑time executive who previously served as CFO and most recently as CIO and EVP. Leadership changes can affect governance and the management of the bank’s investment portfolio.
• The 8-K did not name a successor; investors should watch for future disclosures or announcements about appointments to the board and to the Chief Investment Officer and corporate officer roles.