First National Bank to Expand into South Boston/Halifax County Market

Rhea-AI Summary

First National Bank, a subsidiary of Pinnacle Bankshares (PPBN), has announced plans to expand into the South Boston/Halifax County market in Virginia. The bank will open a Loan Production Office (LPO) in the Town of Halifax by September 1, 2024, with intentions to establish a full-service branch in the future.

The expansion will be led by a team of experienced local bankers: Ronnie F. Moore as Senior VP & South Boston Market Leader, Susan B. McLamb as Senior VP & Commercial Officer, and Katherine S. Bane as VP, Senior Retail Officer & Mortgage Originator. All three have extensive banking experience in the area and were previously associated with American National Bank and Trust Company (now Atlantic Union Bank).

First National Bank currently operates 18 branches across several Virginia counties and cities, serving nearly 200 employees. This expansion aligns with the bank's commitment to community banking and local partnerships.

Positive

• Expansion into new market (South Boston/Halifax County) with LPO opening by September 1, 2024
• Plans for future full-service branch in the new market
• Hiring of experienced local banking team with strong market knowledge
• Potential for increased market share and revenue growth

Negative

• None.

ALTAVISTA, Va., July 16, 2024 (GLOBE NEWSWIRE) -- First National Bank (the “Bank”), a subsidiary of Pinnacle Bankshares Corporation, is pleased to announce it will be opening a Loan Production Office (LPO) in the Town of Halifax, Virginia, with plans of opening a full-service branch in the area.

The Bank is also excited to announce the LPO team that will be leading our efforts in this new market; Ronnie F. Moore, Susan B. McLamb, and Katherine S. Bane. All three are well known in Halifax County, having grown up there, and are well-respected bankers in the market. The new LPO is projected to be open by September 1, 2024.

Moore will lead the effort as Senior Vice President & South Boston Market Leader, with over 26 years of banking experience in-and-around the area, having most recently served as Senior Vice President & Market Leader of the Eastern Region for the former American National Bank and Trust Company (ANB), now Atlantic Union Bank (AUB).

McLamb will serve as Senior Vice President & Commercial Officer. She joins First National Bank with more than 30 years of industry experience in both banking and commercial lending, previously serving as Senior Vice President & Commercial Relationship Manager also for the former ANB, now AUB.

Bane will join the Bank as Vice President, Senior Retail Officer & Mortgage Originator, bringing over 30 years of banking experience in the South Boston/Halifax County area. She previously served as longtime Vice President & Financial Center Manager for Bank of America, before joining ANB, now AUB, as Branch Manager.

“We are excited to expand our approach to community banking into the South Boston/Halifax County area with the opening of our Loan Production Office,” stated Aubrey H. “Todd” Hall, III, President and Chief Executive Officer of First National Bank. “With Ronnie, Susan, and Kathy joining our team, we are positioned and ready to be a local partner to the people and businesses in the South Boston Market.”

First National Bank has nearly 200 employees serving market areas consisting primarily of all or portions of the Counties of Amherst, Bedford, Campbell, and Pittsylvania, and the Cities of Charlottesville, Danville, and Lynchburg. The Company has a total of eighteen (18) branches with one (1) branch in Amherst County within the Town of Amherst, two (2) branches in Bedford County; five (5) branches in Campbell County, including two (2) within the Town of Altavista, where the Bank was founded; one (1) branch in the City of Charlottesville, three (3) branches in the City of Danville; three (3) branches in the City of Lynchburg; and three (3) branches in Pittsylvania County, including one (1) within the Town of Chatham.

For more information, please contact Krystal Harris, Senior Vice President & Chief Human Resources Officer, at (434) 515-0365.

FAQ

When will First National Bank (PPBN) open its Loan Production Office in Halifax, Virginia?

First National Bank plans to open its Loan Production Office (LPO) in Halifax, Virginia by September 1, 2024.

Who are the key team members leading First National Bank's (PPBN) expansion into South Boston/Halifax County?

The expansion will be led by Ronnie F. Moore as Senior VP & South Boston Market Leader, Susan B. McLamb as Senior VP & Commercial Officer, and Katherine S. Bane as VP, Senior Retail Officer & Mortgage Originator.

How many branches does First National Bank (PPBN) currently operate?

First National Bank currently operates a total of eighteen (18) branches across various counties and cities in Virginia.

What are First National Bank's (PPBN) future plans for the South Boston/Halifax County market?

First National Bank plans to open a Loan Production Office initially, with intentions to establish a full-service branch in the South Boston/Halifax County area in the future.