Bank of Botetourt Files Application for New Office in the Town of Rocky Mount

Rhea-AI Summary

Bank of Botetourt (OTCPK: BORT, BORTP) has submitted applications to regulators for a new full-service branch in Rocky Mount, Virginia. The new facility will cover approximately 2,700 square feet and will feature a 24/7 ATM, drive-thru services, and will host their mortgage division, Virginia Mountain Mortgage. CEO G. Lyn Hayth emphasizes the importance of this expansion amid industry consolidation, asserting the bank's commitment to personalized banking and technology-driven solutions. Bank of Botetourt has been serving the community for 124 years, offering services including mortgage, commercial, agricultural lending, and wealth management. A grand opening is scheduled for Q4 2024. This move underlines the bank’s strategy to enhance its presence in the Roanoke Metropolitan Statistical Area.

Positive

• Application for a new branch signals growth potential in Rocky Mount.
• Plans for a modern facility with technology-driven banking solutions.
• Commitment to personalized banking and diverse service offerings for local community.

Negative

• None.

BUCHANAN, Va., April 10, 2023 /PRNewswire/ -- Bank of Botetourt (OTCPK: BORT and OTCPK: BORTP) announced today it has made application with its state and federal regulators to establish a full-service branch in the Town of Rocky Mount, Virginia. The new office will be located at 875 Tanyard Road in Rocky Mount. The Bank plans to make way for a new building that will be approximately 2,700 square feet. Conceptual designs are currently being developed with Hughes Associates Architects & Engineers. Services will include a 24/7 accessible ATM with deposit capabilities, a drive-thru, and night deposit. The Bank's mortgage company, Virginia Mountain Mortgage will also be available from this location. 

"Expanding our reach to Rocky Mount, Virginia is an exciting milestone for our community bank," said G. Lyn Hayth, III, CEO.  "With the on-going mergers of other financial institutions in our industry, we are pleased to be expanding our services and footprint as the largest community bank headquartered in the Roanoke Metropolitan Statistical Area. We are thrilled to bring our personalized banking services, along with our technology-driven solutions, to the Rocky Mount community. Our team is well-equipped to help customers meet financial goals, whether buying a new home, planning for retirement, or starting a business.  In addition, Bank of Botetourt has niche Agricultural lending solutions," continued Hayth. 

As a 124-year-old community bank, this expansion highlights the Bank's commitment to providing personalized banking services, including mortgage, commercial and agricultural lending, insurance, and wealth management solutions to customers throughout the region. Bank of Botetourt has a rich history of serving the banking needs of individuals and businesses, and the new office will provide an opportunity for Bank of Botetourt to be a valuable member of the greater Rocky Mount community. The new office will be staffed by experienced banking professionals who are committed to providing the highest level of customer service. 

Bank of Botetourt has a long-standing reputation for its commitment to technology, offering innovative solutions that make banking more convenient and accessible for customers. Through the Bank's digital platform, customers can manage their accounts, pay bills, and access a suite of wealth management tools. 

"We understand that banking needs vary from customer to customer, and that's why we offer a range of solutions to help our customers achieve their financial goals. We're committed to providing our customers with the resources they need to make informed financial decisions," said Marty R. Francis, First Vice President & Head of Business Banking. 

Bank of Botetourt will have a formal ribbon cutting and public grand opening celebration in the fourth quarter of 2024. 

About Bank of Botetourt 
Bank of Botetourt was chartered in 1899 and operates thirteen retail offices in Botetourt, Rockbridge, Roanoke, and Franklin counties and the City of Salem, all in Virginia. Bank of Botetourt also operates a mortgage division, Virginia Mountain Mortgage and a financial services division, Botetourt Wealth Management.  

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SOURCE Bank of Botetourt

FAQ

What recent application did Bank of Botetourt submit?

Bank of Botetourt submitted an application to regulators for a new full-service branch in Rocky Mount, Virginia.

When is the grand opening of the new Bank of Botetourt branch?

The grand opening of the new branch is scheduled for the fourth quarter of 2024.

What services will be offered at the new Rocky Mount branch?

The new branch will offer services such as a 24/7 ATM, drive-thru, mortgage options through Virginia Mountain Mortgage, and agricultural lending solutions.

How long has Bank of Botetourt been operating?

Bank of Botetourt has been operating for 124 years since its charter in 1899.

What are the key features of the new Bank of Botetourt branch?

The new branch will feature approximately 2,700 square feet of space, a 24/7 accessible ATM, drive-thru, and night deposit services.