Freedom Bank of Virginia in Fairfax plans to raise $4 million by selling common stock.

The $300 million-asset bank, which will sell shares at $6 each, intends to use the proceeds to strengthen its capital position and support future growth.

"Freedom is raising additional capital to take advantage of market conditions," Craig Underhill, the bank's chief executive, said in a press release Tuesday.

Freedom has three branches in northern Virginia.

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