July 29, 2009 (FinancialWire) — Middleburg Financial Corp. (NASDAQ: MBRG) (Current Market Cap: $53.58 Mil.) has priced a public offering of 1.7 million shares of its common stock at $10.75 per share for total gross proceeds of approximately $18.275 million.

Scott and Stringfellow is serving as the underwriter for the offering. The underwriter also has the option to purchase up to an additional 208,598 shares of common stock from us at the public offering price, less the underwriting discount and commission, by August 26.

Middleburg Financial said it will use the net proceeds for general corporate purposes, including the possible redemption of its preferred stock and warrant issued to the U.S. Treasury as part of the Capital Purchase Program.

Middleburg, Virginia-based Middleburg Financial has two wholly owned subsidiaries, Middleburg Bank and Middleburg Investment Group.

Middleburg Bank serves Loudoun, Fairfax, and Fauquier Counties in Virginia with eight financial service centers. Middleburg Investment Group owns Middleburg Trust Co. and Middleburg Investment Advisors.

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