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Starting Amount
$
After
years
Dividend yield
%
Dividends reinvested
$
Cardinal Financial Corporation
Former type
Defunct
Industry Financial services
Fate Acquired by United Bank
Founded 1997; 20 years ago (1997)
Defunct April 24, 2017; 6 months ago (April 24, 2017)
Headquarters McLean, Virginia
Key people
Bernard H. Clineburg, CEO
Mark A. Wendel, CFO
Products Banking
Revenue Increase $153.478 million (2016)
Net income
Increase $50.491 million (2016)
Total assets Increase $4.210 billion (2016)
Total equity Increase $452.177 million (2016)
Number of employees
839 (2016)
Website www.cardinalbank.com

Cardinal Bank was a bank headquartered in McLean, Virginia that operated in Northern Virginia. It was a subsidiary of Cardinal Financial Corporation. It operated 3 business segments: commercial banking, mortgages, and wealth management services. In 2017, Cardinal was acquired by United Bank.

Cardinal Financial Services was founded in November 1997 as a bank holding company, with Fairfax attorney and politician John H. "Jack" Rust, Jr. as Chairman.

In June 1998, the bank's first branch in McLean.

In July 1998, Cardinal Financial sold 2.6 million shares of stock at an initial price of $10/share.

In 1999, Cardinal Financial Services began operating Cardinal Wealth Services as its investment advisory subsidiary.

In July 2000, Cardinal Financial purchased Heritage Bancorp of Fairfax for $13.8 million.

Cardinal Financial struggled during its first five years of operations, losing a total of $24 million over that time. The complicated administrative structure needed to support its community bank model severely affected the company's profitability.

To remedy the company's ills, Rust recruited former George Mason Bank CEO Bernard H. Clineburg to run Cardinal Financial in the summer of 2001. Clineburg took over as CEO in October 2001, following the resignation of founding CEO L. Burwell Gunn.

Clineburg immediately collapsed the company's four banking units into one and laid off 33 of the bank's 135 employees. Cardinal also took a $8.3 million write-off on the 2000 purchase of Heritage Bancorp and a $1.7 million loss on a corporate bond from Worldcom.

In May 2002, Cardinal raised another $18.5 million with a stock sale priced at $3.50 per share.

In July 2004, Cardinal Financial Services bought George Mason Mortgage, LLC from the United Bank-Virginia unit of United Bankshares for $17 million.

In May 2009, Cardinal Financial raised $31 million with the sale of 4 million shares of stock at $7.75 each.

In April 2010, the company launched a middle school bank in Fairfax, County, Virginia.

In May 2012, the United States Department of Justice concluded an investigation of lending discrimination and said that it did not intend to file a lawsuit against the bank.

In October 2012, the company revised an advertisement in the Washington Metro after locals confused the company logo with that of the St. Louis Cardinals.

In January 2014, Cardinal Financial acquired Vienna, Virginia-based United Financial Banking Companies, Inc., the holding company of The Business Bank, for $51.7 million.

In April 2017, United Bank acquired Cardinal Financial for $912 million.

Investment goal date:
Dividends reinvested
Cardinal Financial Corporation CFNL report Q1 2017
Period
Date
Adjusted Actuals EPS
GAAP EPS
Q3 2017
2017-10-20
--
--
Q2 2017
2017-07-19
--
--
Q1 2017
2017-04-11
0.3600
0.3600
Q4 2016
2017-01-25
0.3200
0.3200
Q3 2016
2016-10-19
0.3700
0.3700
Q2 2016
2016-07-20
0.4200
0.4200
Q1 2016
2016-04-20
0.3900
0.3900
Q4 2015
2016-01-20
0.2700
0.2700
Q3 2015
2015-10-21
0.3400
0.3400
Q2 2015
2015-07-15
0.4000
0.4000
There is presents forecasts or rating agencies and recommendation for investors about this ticker
Funds
Fund Name
Ticker shares
Bank of New York Mellon Corp
445368
BlackRock Fund Advisors
2575305
BlackRock Inc.
4055316
BlackRock Institutional Trust Company, N.A.
950432
CARDINAL CAPITAL MANAGEMENT LLC /CT
963692
CNH PARTNERS LLC
1368844
DIMENSIONAL FUND ADVISORS LP
1689637
MACQUARIE GROUP LTD
858523
MORGAN STANLEY
708560
NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION
1603241
NORTHERN TRUST CORP
580751
RE ADVISERS CORP
1954500
STATE STREET CORP
948197
Tributary Capital Management, LLC
503414
Vanguard Group, Inc
1705734
Major Shareholders
Name Relationship
Total Shares
Holding stocks
SHAFRAN GEORGE P
0.5100% (163347)
CFNL /
% ()