WashingtonFirst Bankshares, Inc. (NASDAQ: WFBI) (the “Company”) today announced that it has extended its offer (the “Exchange Offer”) to exchange up to $25,000,000 aggregate principal amount of its 6.00% Fixed-To-Floating Rate Subordinated Notes due 2025, which have been registered under the Securities Act of 1933, as amended (the “Registered Notes”), for an equal principal amount of its outstanding unregistered 6.00% Fixed-To-Floating Rate Subordinated Notes due 2025 (the “Unregistered Notes”).

The Exchange Offer, previously scheduled to expire at 11:59 p.m., New York City time, on January 21, 2016, will now expire at 11:59 p.m., New York City time, on January 29, 2016 unless further extended by the Corporation.

Except for the extension, all other terms and conditions of the Exchange Offer remain unchanged. The complete terms and conditions of the Exchange Offer are set forth in the Prospectus dated December 16, 2015 (the “Prospectus”), filed with the U.S. Securities and Exchange Commission, and the related Letter of Transmittal. Questions relating to the procedure for tendering, as well as requests for additional copies of the Prospectus and the related Letter of Transmittal, may be directed to the Exchange Agent, Wilmington Trust, National Association, c/o Wilmington Trust Company, Corporate Capital Markets, Rodney Square North, 1100 North Market Street, Wilmington, DE 19890-1626, Attn: Workflow Management – 5th Floor.

As of 5:00 p.m., New York City time, on January 21, 2016, $22,750,000 in aggregate principal amount of the Unregistered Notes had been validly tendered for exchange and not withdrawn.

The Company will not receive any proceeds from the Exchange Offer, and issuance of the Registered Notes will not result in any increase in the Company’s outstanding debt.

This press release is neither an offer to exchange, purchase or sell any securities nor a solicitation of an offer to exchange, purchase or sell any securities. The Company is making the Exchange Offer only by, and pursuant to the terms of, the Prospectus and the related Letter of Transmittal and only to such persons and in such jurisdictions as is permitted under applicable law. The complete terms and conditions of the Exchange Offer are set forth in the Prospectus and the Letter of Transmittal. Holders of the Unregistered Notes are urged to read these documents carefully.

About The Company

WashingtonFirst Bankshares, Inc., headquartered in Reston, Virginia, is the holding company for WashingtonFirst Bank, which operates 17 full-service banking offices throughout the Washington, DC, metropolitan area. In addition, the Company provides wealth management services through its subsidiary, 1st Portfolio Wealth Advisors, and mortgage banking services through the Bank's subsidiary, 1st Portfolio Lending Corporation. The Company's common stock is traded on the NASDAQ Stock Market under the quotation symbol “WFBI” and is included in the ABA NASDAQ Community Bank Index.

Cautionary Statements About Forward-Looking Information

This press release containsforward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements of the intentions and expectations of the Company as to the future use of the net proceeds from the offering. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors which include, but are not limited to, factors discussed in our Annual Report on Form 10-K and in other documents we file with the SEC from time to time. In some cases, forward-looking statements can be identified by use of words such as “may,” “will,” “anticipates,” “believes,” “expects,” “plans,” “estimates,” “potential,” “continue,” “should,” and similar words or phrases. These statements are based upon the beliefs of the management of the Company as to the expected outcome of future events, current and anticipated economic conditions, nationally and in the Company’s market, and their impact on the operations, assets and earnings of the Company, interest rates and interest rate policy, competitive factors, judgments about the ability of the Company to successfully integrate its operations following significant transactions including, but not limited to, mergers and acquisitions, the ability to avoid customer dislocation during the period leading up to and following such transactions, and other conditions which by their nature, are not susceptible to accurate forecast and are subject to significant uncertainty. Readers are cautioned against placing undue reliance on such forward-looking statements. The Company assumes no obligation to revise, update, or clarify forward-looking statements to reflect events or conditions after the date of this release.