Item 1. Legal Proceedings
Item 1. Legal
Proceedings
In
the course of operations, we may become a party to legal proceedings in the normal course of business. At June 30, 2022, we do not anticipate
that the aggregate ultimate liability arising out of litigation pending or threatened against the Company or any of its subsidiaries
or to which the property of the Company or any of its subsidiaries is subject, in the opinion of management, will materially impact the
financial condition or liquidity of the Company.
On
April 20, 2022, the United States District Court for the Western District of Virginia issued summary judgment, in favor of the Bank,
dismissing all remaining claims made in a lawsuit filed by a former employee in January 2021, alleging wrongful termination based on
gender, religion and age. This proceeding is now concluded.
Item 1A. Risk
Factors
Not
Applicable.
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