Current All-In Rates: 6.908% (10-year), 6.656% (20-year), and 6.555% (25-year)
Rappahannock Economic Development Corporation

Staff & Board

Headquarters/Virginia Office

710 Princess Anne Street, Suite 2
Fredericksburg, Virginia, 22401


Maryland/DC Office

909 Rose Avenue, 4th Floor
North Bethesda, Maryland 20852


Joe DiStefano, President
Joe is a seasoned financial services professional with a depth of both local market knowledge and business management skills. Drawing on nearly 30 years of professional leadership and commercial banking expertise, Joe brings particular competencies in small business lending, risk analysis, and relationship management. Joe directs and oversees all aspects of REDCO credit underwriting and the full loan process, as well as marketing, strategic planning, and business development throughout the entire state of Virginia.

Prior to joining REDCO, Joe spent nearly 15 years as a commercial lender with a regional, Northern Virginia-based bank, most recently serving as Senior Vice President & Market Executive. Joe is also an Army veteran, serving 10 years on both active duty and in the reserve. From 2004-2005, he served as an infantry team leader in Afghanistan in support of Operation Enduring Freedom.

Joe holds a Bachelor of Arts degree in English from George Mason University, and is a graduate of the Virginia Bankers Association School of Bank Management. He is also a 2014 graduate of the Fredericksburg Regional Chamber of Commerce Leadership Fredericksburg program. Joe gives back to the community as a volunteer and contributor to many local organizations and non-profits, with a particular focus on veteran initiatives and youth soccer. He participates in member organizations including the Fredericksburg Regional Chamber of Commerce and the University of Mary Washington Center for Economic Development Veteran Owned Business Executive Roundtable.

Allison Graves, Director of Operations
Allison brings several years of experience as a paralegal, with a specific focus on corporate real estate law, and in her career has worked with both locally-based practices as well as one of the largest law firms in the world. As Director of Operations, Allison is responsible for REDCO’s loan closings and servicing. Her responsibilities include working with our borrowers and partners to ensure an efficient, smooth loan closing process, and also servicing loans throughout their life cycle. Her responsibilities also include ensuring that the portfolio remains compliant with all SBA requirements. Allison also manages the administration of employee benefits and payroll, and assists in REDCO’s annual audit and annual report.

Jaimie Jacobson, Senior Vice President
Jaimie is an experienced financial services professional with a strong working knowledge of the local market. With almost 35 years of both commercial and retail banking expertise, Jaimie brings competencies in both small business and commercial lending and relationship management. Jaimie oversees, with the guidance of REDCO’s leadership, all aspects of marketing, strategic planning, and business development for the Maryland market.

Prior to joining REDCO, Jaimie spent the last 20 years as a commercial lender serving the Maryland, DC and Virginia markets.

Jaimie holds a B.A. in Business Administration/Marketing from Frostburg State University and is also a graduate of the Maryland Banking School. Jaime has given back to the community as a volunteer to many local organizations and non-profits, with a particular focus on student education, financial literacy, and safety.

Board of Directors

Brian Baker, Chairman
Executive Director (Retired)
UMW Center for Economic Development

Teri Tosti, Vice Chairman
Senior Vice President/Small Business Lender
BCT – Bank of Charles Town

Brenda Hisghman, Immediate Past Chairman
Business Banking Senior Team Lead
Atlantic Union Bank

Mike Kennison, Treasurer
Partner and Certified Public Accountant

Kristin Shields, Secretary

Bill Oeters, Assistant Secretary
Senior Commercial Lender (Retired)
Carter Bank & Trust

Steven Apicella
Federal Government
Stafford County Planning Commission

George Christopher
Partner and Certified Public Accountant (Retired)
Santos, Postal & Company, P.C.

Jim Howard
Federal Government (Retired)
King George Board of Supervisors (Retired)

Matt Kelly
Loudoun Mutual Insurance Company
Fredericksburg City Council (Past)

Curry Roberts
Fredericksburg Regional Alliance

Jeff Rouse
Senior Vice President
Burke & Herbert Bank

Kathy Speakman
Senior Commercial Lender