An investor is threatening to block Abigail Adams National Bancorp's acquisition of a Virginia bank.

Marshall Reynolds, a member of Adams' board of directors, has notified the Washington-based company that he doesn't want it to acquire $72 million-asset Ballston Bancorp. Mr. Reynolds, who leads an investor group that owns about 36% of Adams stock, said he is worried that the purchase would dilute it.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.