Exhibit 99

Virginia Commerce Bancorp, Inc. Reports Strong 3^rd Quarter Performance With Significant Asset Quality Progress

ARLINGTON, Va.--(BUSINESS WIRE)--October 19, 2011--Virginia Commerce Bancorp, Inc. (the “Company”), (Nasdaq: VCBI), parent company of Virginia Commerce Bank (the “Bank”), today reported net income to common stockholders of $5.2 million, or $0.17 per diluted common share, for the third quarter of 2011, compared with a net income to common stockholders of $5.7 million, or $0.20 per diluted common share, for the same period in 2010. Non-performing assets and loans 90+ days past due decreased 25.3% sequentially, from $74.7 million at June 30, 2011, to $55.9 million at the current quarter-end.

Peter A. Converse, President and Chief Executive Officer, commented, “The Company’s third quarter represented a rather well-rounded performance. Net income to stockholders was relatively strong at $5.2 million, asset quality improved markedly across the board, and the resumption of modest loan growth during the third quarter is encouraging.”

“First of all, net income to stockholders of $5.2 million was relatively strong, albeit less, as compared to the prior quarter and the same period last year. The sequential decline was mostly due to a $2.5 million increase in loan loss provisioning expense and a $660 thousand OREO write-down, that were necessary to facilitate transactions resulting in greater quarterly progress in problem loan resolution. Additionally, the higher earnings a year ago included $1.0 million of death benefits received from bank-owned life insurance during that quarter. Secondly, asset quality exhibited meaningful overall improvement in the third quarter. As already indicated, non-performing assets and loans 90+ days past due decreased 25.3% sequentially to $55.9 million, or 1.9% of total assets. Troubled debt restructuring (“TDRs”) declined 13.1%, from $81.1 million at June 30, 2011, to $71.7 million at the end of the third quarter. Loans 30-89 days past due improved to $12.8 million as of September 30, 2011, from $15.1 million the prior quarter. Based on this asset quality improvement, our analysis of current portfolio risk and other asset resolution strategies currently being implemented, we anticipate maintaining a healthy rate of progress in reducing problem assets. Finally, despite various headwinds to loan growth since 2009, we see progress in the modest sequential growth of 0.1% in net loans during the third quarter, which we believe may represent the inflection point after 2½ years of negative growth. Taking into account our current loan pipeline and business development activity, we are cautiously optimistic that we have turned the corner and that loan production will exceed run-off on an ongoing basis."

Converse continued, “Our confidence in being able to sustain earnings and asset quality progress is high and, as a result, based upon preliminary projections, we expect to be able to pay off TARP from earnings. We currently intend to do so before the dividend rate increases from 5% to 9% in the fourth quarter of 2013. Accordingly, we do not anticipate pursuing a capital raise for the foreseeable future and will provide more clarity on the timeframe for TARP repayment through earnings following year-end. The repayment process is subject to regulatory approval and is not likely to start until the end of the second quarter of 2012 at the earliest.”

Converse concluded, “We were among the many community banks not approved for participation in the Small Business Lending Program. While we felt that participation in the Program would have been beneficial, the non-participation in no way affects our inclination to earn our way out of TARP. We had a positive SBLF recommendation from our regulators, and are at a loss to understand the Treasury’s rationale for the decline. As was the case with many other banks not approved for SBLF, the reasons were not made clear. Given our progress in earnings and asset quality improvement since we made application earlier this year, we anticipate timing and stale information may have played a role. To formally conclude the application process, we withdrew our application.”

SUMMARY REVIEW OF FINANCIAL PERFORMANCE

Net Income

For the three months ended September 30, 2011, the Company recorded net income of $6.6 million. After an effective dividend of $1.3 million to the U.S. Treasury on the Company’s TARP preferred stock, the Company reported net income to common stockholders of $5.2 million, or $0.17 per diluted common share, compared to net income to common stockholders of $5.7 million, or $0.20 per diluted common share, in the third quarter of 2010. For the nine months ended September 30, 2011, the Company reported net income to common stockholders of $16.4 million, or $0.53 per diluted common share, compared to net income to common stockholders of $13.2 million, or $0.46 per diluted common share, for the same period in 2010. The higher earnings reported for the three months ended September 30, 2010, were largely attributable to $1.0 million of death benefits received from bank-owned life insurance during that quarter. Earnings improvement for the nine-month period ended September 30, 2011, as compared to the same period in 2010, was attributable to lower provisions for loan losses, higher net interest margins and non-interest expense reduction.

Adjusted operating earnings for the three months ended September 30, 2011, were $14.3 million, down $321 thousand, or 2.2%, compared to $14.6 million for the three months ended September 30, 2010. On a sequential basis, adjusted operating earnings were down $161 thousand for the three months ended September 30, 2011. The Company calculates adjusted operating earnings by excluding taxes, provisions for loan losses, losses on other real estate owned, gains on sale of securities, death benefits received from bank owned life insurance, and impairment losses on securities.

Asset Quality and Provisions For Loan Losses

Provisions for loan losses were $3.9 million for the quarter ended September 30, 2011, compared to $5.1 million in the same period in 2010, with total net charge-offs of $7.7 million in the third quarter of 2011 versus $4.7 million for the same period a year ago. For the nine months ended September 30, 2011, provisions for loan losses totaled $11.2 million, compared to $13.5 million for the prior year period, with 2011 year-to-date net charge-offs of $24.2 million, up $8.3 million, from $15.9 million in the nine months ended September 30, 2010. Charge-offs during the quarter included $4.0 million in partial write-downs of five residential acquisition and development loans to reduce the book balance to estimated liquidation value, a $900 thousand write-down to facilitate the sale of a commercial acquisition and development loan, charge-offs of $1.9 million for three non-farm, non-residential loans prior to implementing a deed in lieu of foreclosure and foreclosing after a bankruptcy stay was lifted, a $340 thousand short-sale of a one-to-four family residential mortgage and an $840 thousand write-down of commercial and industrial loans pursuant to a forbearance and settlement agreement. Charge-offs of $7.4 million were supported by specific reserves.

Total non-performing assets and loans 90+ days past due declined from $82.4 million at September 30, 2010, to $55.9 million at September 30, 2011, and decreased $18.9 million sequentially, from $74.7 million at June 30, 2011. The Company’s sequential improvement in non-performing assets and loans 90+ days past due was facilitated by $7.9 million in charge-offs, a $660 thousand write-down upon the sale of other real estate owned, $8.6 million in proceeds from the sale of non-performing loans or other real estate owned, $1.2 million in net upgrades of loans to performing status and $515 thousand in recoveries of loans previously charged-off.

Non-performing loans continue to be concentrated in residential and commercial construction and land development loans in outer sub-markets hardest hit by the residential downturn and commercial and consumer credits experiencing the after shocks in sub-contracting businesses and workforce employment. Overall, as of September 30, 2011, $26.3 million, or 58.6%, of non-performing loans represented acquisition, development and construction (“ADC”) loans, $5.0 million, or 11.2%, represented loans on one-to-four family residential properties, $7.6 million, or 16.9%, represented non-farm, non-residential loans, and $5.5 million, or 12.2%, represented commercial and industrial (“C&I”) loans. As of September 30, 2011, the allowance for loan losses represented 2.30% of total loans, down from 2.47% at June 30, 2011, with such allowance covering 108.6% of total non-performing loans.

Included in the loan portfolio at September 30, 2011, are loans classified as troubled debt restructurings (“TDRs”) totaling $71.7 million, a sequential reduction of 13.1%, or $9.4 million, from $81.1 million at June 30, 2011. These are performing, accruing loans that represent relationships for which a modification to the contractual interest rate or repayment structure has been granted to address a financial hardship. These loans make up 3.3% of the total loan portfolio at September 30, 2011, and represent $22.9 million in ADC loans, $35.1 million in non-farm, non-residential real estate loans, $9.5 million in C&I loans and $4.2 million in one-to-four family residential loans. At September 30, 2011, 47.0% of the Company’s TDRs were reviewable TDRs and 53.0% were permanent TDRs. Reviewable TDRs are loans that have been restructured at or will return to a market rate of interest and can include a temporary interest rate modification, partial deferral of interest or principal or an extension of term. They can return to performing status upon six months of on-time payments following the return to a market rate of interest, but only in the fiscal year following the year of restructure. Permanent TDRs are loans that have been restructured and include a permanent interest rate reduction. They remain in a TDR status until the loan is paid off. The sequential reduction in TDRs was attributable to payoffs and principal curtailments of $5.1 million, upgrades to performing status of $4.3 million and transfers to non-accrual of $1.0 million offset by $1.0 million of new TDR additions.

Net Interest Income

Net interest income of $26.7 million for the third quarter of 2011 was down $452 thousand, or 1.7%, over the same quarter last year, due primarily to a decrease in the net interest margin from 3.96% in the third quarter of 2010 to 3.85% for the third quarter 2011. Interest expense decreased $2.0 million for the quarter ended September 30, 2011, from the same period in 2010 and decreased $6.6 million for the nine months ended September 30, 2011, compared to 2010. The Company expects that interest expense will decline further in the fourth quarter of 2011 as interest rates were lowered in late September by an average of 15 basis points on approximately $1 billion in transaction accounts. Reductions in interest expense partially offset the decrease in interest and fee income on loans of $2.4 million for the three-months ended September 30, 2011, as compared to the same period in 2010. Year-to-date interest and fee income on loans decreased $5.0 million, as compared to the same period in 2010. The decline in interest and fee income on loans from 2010 to 2011 is attributable to decreases in average outstanding loan balances of $2.5 million for the three months and $81.0 million for the nine months ended September 30, 2011, as compared to the same periods in 2010. Year-to-date net interest income of $79.7 million was up 1.9%, compared to $78.2 million in 2010. On a sequential basis, the net interest margin was down fourteen basis points due primarily to decreased average loans and higher balances in lower earning assets during the third quarter of 2011. The increase in the net interest margin for the nine months ended September 30, 2011, compared to the same period in 2010, was primarily driven by lower deposit costs due to significant reductions in the level of time deposits, increased levels of demand deposits and lower rate interest-bearing transaction accounts. Management anticipates the net interest margin will range between 3.70% and 3.85% for the remainder of 2011.

Non-Interest Income

For the three months ended September 30, 2011, the Company recognized $1.9 million in non-interest income, compared to $3.1 million for the three months ended September 30, 2010. For the nine months ended September 30, 2011, the Company recognized non-interest income of $5.7 million compared to $4.8 million for the same period in 2010. Non-interest income for the third quarter of 2010 included $1.0 million in bank-owned life insurance death benefits. Fees and net gains on loans held for sale increased $210 thousand during the third quarter of 2011 from the second quarter of 2011, and increased by $62 thousand for the nine months ended September 30, 2011, from the same period last year.

Non-Interest Expense

Non-interest expense decreased $418 thousand, or 2.7%, from $15.3 million in the third quarter of 2010, to $14.9 million in the third quarter of 2011, and was down $943 thousand, or 2.1%, from $44.8 million for the nine months ended September 30, 2010, to $43.9 million year-to-date 2011. Compared to the second quarter of 2011, non-interest expense increased $373 thousand during the third quarter of 2011. The majority of the year-over-year decreases in non-interest expense were due to lower FDIC insurance premiums and lower losses on other real estate owned. The efficiency ratio declined slightly from 49.3% in the third quarter of 2010 to 49.4% in the third quarter of 2011.

Investment Securities

Investment securities increased $221.7 million, or 58.2%, year-over-year to $602.6 million at September 30, 2011, and were up $91.5 million sequentially from June 30, 2011. U.S. Government agency securities, including mortgage-backed securities (MBS) and collateralized mortgage obligations (CMOs) comprised a majority of the increases. The portfolio contains four pooled trust preferred securities with an amortized cost basis of $9.6 million for which the Bank performs a quarterly analysis for other than temporary impairment due to significantly depressed current market quotes. The analysis includes stress tests on the underlying collateral and cash flow estimates based on the current and projected future levels of deferrals and defaults within each pool. Since the first quarter of 2009, the Bank has recorded an aggregate impairment loss of $4.2 million on three of the four pools. There was no recorded impairment loss for the third quarter of 2011. The increase of $221.7 million in investment securities was due to investing excess funds provided by increases in deposits, repurchase agreements and stockholder’s equity, combined with the run-off of loan balances and funds provided by the decrease in other asset balances. Investments were made in short term, average life pass-through securities, generally of three to four years or less. This strategy positions the Bank to maintain a constant flow of funds to support future loan growth and to provide repricing opportunities if rates begin to rise.

Loans

Loans, net of allowance for loan losses, decreased $81.0 million, or 3.7%, from $2.18 billion at September 30, 2010, to $2.10 billion at September 30, 2011. ADC loans fell by $51.8 million, or 13.8%, non-farm, non-residential real estate loans decreased $13.2 million, or 1.2%, and one-to-four family residential loans decreased $35.9 million, or 8.5%, while C&I loans increased $21.7 million, or 10.5%. Sequentially, net loans were up $2.1 million, or 0.1% as declines in ADC loans of $5.8 million, C&I loans of $3.4 million and multi-family residential loans of $13.2 million were offset by growth of $22.7 million in non-farm, non-residential real estate loans including $11.5 million in owner-occupied. Year-over-year loan production has been negatively impacted by a lower demand for credit in both the business and consumer sectors as cautious borrowers await clearer economic signs, run-off in both commercial and residential mortgage loans due to aggressive interest rate competition and a strategic decision to restrict ADC lending and focus on greater portfolio diversification as well as deposit generation and non-credit products. Lending efforts are being directed toward building greater market share in commercial lending, including non-farm, non-residential owner-occupied real estate loans, and particularly in sectors forecast for growth such as government contract lending, professional practices and associations and select service industries, with strategic hiring, marketing campaigns and call efforts. Year-over-year and sequential loan production reflect progress in executing this strategy.

Deposits

For the twelve months ended September 30, 2011, deposits increased $45.5 million, or 2.0%, to $2.37 billion, with demand deposits increasing $119.8 million, or 44.4%, savings and interest-bearing demand deposits decreasing by $36.4 million, or 3.0%, and time deposits falling $37.9 million, or 4.6%. Sequentially, deposits rose $115.2 million, or 5.1%, with demand deposits increasing by $96.4 million, or 32.9%, savings and interest-bearing demand accounts growing $5.3 million, or 0.5%, and time deposits increasing by $13.4 million, or 1.7%. The annual and sequential increases are impacted by a temporary influx of approximately $71.0 million in demand deposits that are expected to flow back out in the fourth quarter of 2011. The vast majority of these non-interest deposits in excess of historical average are held and earmarked for auction by a longstanding client that invests and trades in U.S. energy markets. Demand deposit growth remains the top deposit priority, with the increase in demand deposits primarily due to the successful efforts of the Company’s team of eight business development officers, who are focused on acquisition and retention of commercial operating funds, treasury management services and other related cross-sales. At September 30, 2011, the Bank had no brokered certificates of deposit, down from $30.0 million at September 30, 2010.

Capital Levels and Stockholders’ Equity

On March 31, 2011, the Company issued 426,000 shares of its common stock at a price of $5.87 per share in a registered direct placement with a Company director for total gross proceeds of approximately $2.5 million. In addition, the Company issued to the investor, warrants exercisable for shares of common stock, which, if fully exercised, would provide an additional $4.8 million in gross proceeds to the Company. The warrants each have an exercise price of $5.62 per share. The Series A warrants, exercisable for a total of 426,000 shares of common stock, are exercisable for a period of seven months following the closing date. The Series B warrants, also exercisable for a total of 426,000 shares of common stock, are exercisable for a period of twelve months following the closing date.

On September 29, 2010, the Company issued 1,904,766 shares of its common stock at a price of $5.25 per share in a registered direct placement with several institutional investors for total gross proceeds of $10.0 million. In addition, the Company issued to the investors warrants exercisable for shares of common stock. The warrants each have an exercise price of $6.00 per share, which represents a 14.3% premium to the offering price of the shares of common stock sold in the registered direct placement. The Series A warrants were exercisable through April 30, 2011, and 130,851 were exercised as of that date. The 952,383 Series B warrants originally were to expire on September 29, 2011, but on September 27, 2011, the expiration date of 904,764 of the Series B Warrants was extended to January 27, 2012, with 47,619 warrants having been exercised prior to the warrant extension.

Stockholders’ equity increased $28.5 million, or 11.6%, from $247.0 million at September 30, 2010, to $275.5 million at September 30, 2011, with approximately $3.5 million in net proceeds from the above referenced stock issuances, net income to common stockholders of $19.6 million over the twelve-month period, a $2.5 million increase in other comprehensive income related to the investment securities portfolio, $1.7 million in the accretion of the discount on preferred stock and $1.1 million in proceeds and tax benefits related to the exercise of options by the Company’s directors and officers, and stock option expense credits. As a result of these changes, the Company’s Tier 1 capital ratio increased from 12.96% at September 30, 2010, to 14.46% at September 30, 2011, its total qualifying capital ratio increased from 14.21% to 15.71% and its tangible common equity ratio increased from 6.39% to 7.17%. Sequentially, the Company’s Tier 1 and total qualifying capital ratios are each up 11 basis points, and its tangible common equity ratio is down 1 basis point due to higher levels of tangible assets at September 30, 2011.

CONFERENCE CALL

The Company will host a teleconference call for the financial community on October 19, 2011, at 11:00 a.m. Eastern Daylight Time to discuss the third quarter 2011 financial results. The public is invited to listen to this conference call by dialing 866-814-8482 at least 10 minutes prior to the call.

A replay of the conference call will be available from 2:00 p.m. Eastern Daylight Time on October 19, 2011, until 11:59 p.m. Eastern Daylight Time on October 26, 2011. The public is invited to listen to this conference call replay by dialing 888-266-2081 and entering access code 1554457.

ABOUT VIRGINIA COMMERCE BANCORP, INC.

Virginia Commerce Bancorp, Inc. is the parent bank holding company for Virginia Commerce Bank, a Virginia state chartered bank that commenced operations in May 1988. The Bank pursues a traditional community banking strategy, offering a full range of business and consumer banking services through twenty-eight branch offices, one residential mortgage office and one wealth management services office, principally to individuals and small-to-medium size businesses in Northern Virginia and the Metropolitan Washington, D.C. area.

NON-GAAP PRESENTATIONS

The Company prepares its financial statements under accounting principles generally accepted in the United States, or “GAAP”. However, this press release also refers to certain non-GAAP financial measures that we believe, when considered together with GAAP financial measures, provide investors with important information regarding our operational performance. An analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP.

Adjusted operating earnings is a non-GAAP financial measure that reflects net income excluding taxes, loan loss provisions, gains or losses on other real estate owned, impairment losses on securities, gain on sale of securities and death benefits received from bank owned life insurance. These excluded items are difficult to predict and we believe that adjusted operating earnings provides the Company and investors with a valuable measure of the Company’s operational performance and a valuable tool to evaluate the Company’s financial results. Calculation of adjusted operating earnings for the three months ended September 30, 2011, September 30, 2010, and June 30, 2011 is as follows:

The adjusted efficiency ratio is a non-GAAP financial measure that is computed by dividing non-interest expense, excluding gains or losses on other real estate owned, by the sum of net interest income on a tax equivalent basis and non-interest income before impairment losses on securities, gain on sale of securities and death benefits received from bank owned life insurance. We believe that this measure provides investors with important information about our operating efficiency. Comparison of our adjusted efficiency ratio with those of other companies may not be possible because other companies may calculate the adjusted efficiency ratio differently. Calculation of the adjusted efficiency ratio for the three months and nine months ended September 30, 2011 and September 30, 2010 is as follows:

The tangible common equity ratio is a non-GAAP financial measure representing the ratio of tangible common equity to tangible assets. Tangible common equity and tangible assets are non-GAAP financial measures derived from GAAP-based amounts. We calculate tangible common equity for the Company by excluding the balance of intangible assets and outstanding preferred stock issued to the U.S. Treasury from total stockholders’ equity. We calculate tangible assets by excluding the balance of intangible assets from total assets. We had no intangible assets for the periods presented. We believe that this is consistent with the treatment by regulatory agencies, which exclude intangible assets from the calculation of regulatory capital ratios. Accordingly, we believe that these non-GAAP financial measures provide information that is important to investors and that is useful in understanding our capital position and ratios. However, these non-GAAP financial measures are supplemental and are not substitutes for an analysis based on a GAAP measure. As other companies may use different calculations for non-GAAP measures, our presentation may not be comparable to other similarly titled measures reported by other companies. Calculation of the Company’s tangible common equity ratio as of September 30, 2011, September 30, 2010, June 30, 2011 and March 31, 2011 is as follows:

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the Securities and Exchange Act of 1934, as amended, including statements of goals, intentions, and expectations as to future trends, plans, events or results of Company operations and policies, including but not limited to our outlook on earnings, including our future net interest margin, and statements regarding asset quality, , our loan and investment security portfolios, projected growth, capital position, capital strategies, our plans regarding and expected future levels of our non-performing assets, business opportunities in our markets, and general economic conditions. When we use words such as “may”, “will”, “anticipates”, “believes”, “expects”, “plans”, “estimates”, “potential”, “continue”, “should”, and similar words or phrases, you should consider them as identifying forward-looking statements. These forward-looking statements are not guarantees of future performance. These statements are based upon current and anticipated economic conditions, nationally and in the Company’s market, interest rates and interest rate policy, competitive factors, and other conditions which by their nature, are not susceptible to accurate forecast, and are subject to significant uncertainty. Because of these uncertainties and the assumptions on which this release and the forward-looking statements are based, actual future operations and results may differ materially from those indicated herein. Readers are cautioned against placing undue reliance on any such forward-looking statements. The Company’s past results are not necessarily indicative of future performance. For additional information regarding factors that could affect the Company's operations and results, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2010, and other reports filed with and furnished to the Securities and Exchange Commission.

Of this total of $1.1 billion in non-farm/non-residential real estate loans, approximately $13.6 million will mature in 2011, $94.1 million in 2012 and $95.4 million in 2013.

CONTACT:
For further information:
Virginia Commerce Bancorp, Inc.
Wilmer L. Tinley, Jr., 703-633-6120
Interim Chief Financial Officer
wtinley@vcbonline.com