We proactively reinvest in the communities in which we serve. We encourage volunteerism, supporting organizations valued by our employees and clients. We are generous in our financial support of local organizations. We partner with local businesses and institutions to help them succeed. We are proud to be known and recognized for our community involvement.
As a community partner, we make charitable contributions for education, culture and the arts, social service agencies, charitable activities, community and economic development, and other programs that impact the needs of our communities. By bridging the needs of our local communities with the resources of Bank of Botetourt, we help to improve the quality of life for residents in our service areas. We realize that we can only be as successful as the communities we serve.
Every day, Bank of Botetourt employees provide their time and talents for efforts that are important to their local communities – some read to children, others work during parades and festivals, some donate blood, or participate in walk-a-thons. We are proud of the many employees who generously donate so much of their time in support of charitable, civic, and professional organizations.
In 1899 the Bank of Buchanan was officially chartered with the support of J. C. Dill, James Mundy, John C. Paxton, J. Z. Shultz, and John Ageon. It opened for business on October 1, 1899.
James Mundy becomes President of the bank in 1899 and serves until 1904.
In 1901 the General Assembly issued a state charter to the Bank of Buchanan, one of only five banks still operating in Virginia under a charter issued by legislature.
C. B. Johnson becomes President of the bank in 1904 and serves until 1942.
In 1916, the bank purchased the site where its present day Buchanan office sits.
In 1918 the bank purchases its first typewriter.
In the 1940’s, the first two women officers of the bank were hired, Nancy Brewbaker Rookstool and Carolyn Dudley Ferguson. Rookstool was hired as bookkeeper during World War II, and Ferguson followed her in the position in 1948.
Dr. E. W. Dodd becomes President of the bank in 1942 and serves until 1964.
In 1947 and 1949 the bank acquires its first two “desk model, electric” adding machines.
In 1948 the bank begins offering employee education through a training course offered by the Roanoke Chapter of the American Banking Association.
In 1952 the bank becomes part of the joint project which lead to the opening of the Darden Graduate School of Business Administration at the University of Virginia in 1954.
Darnell E. Brugh becomes President of the bank in 1964 and serves until 1976.
Paula Bryant becomes the first female cashier of the bank in 1966.
H. Watts Steger III becomes President of the bank in 1976 and serves until he retired in 2010.
In 1989 the first new branch of the bank opens in Daleville. The office remains its location on Roanoke Road until 2016.
From 1992 to 2001, the bank hosted the Art by the James festival in Buchanan, VA.
In 1993 the bank opens its Eagle Rock branch.
In 1995 the bank opens its Troutville branch.
In 1995 the bank changes its name to the Bank of Botetourt and opens its new Operations Center on Main Street in Buchanan, where it still is today.
In 1996, Governor George Allen presented the bank with the Governor’s Community Service and Volunteerism Award.
In 1997 the bank opens its Bonsack branch.
In 1997, the bank formed its holding company, Botetourt Bankshares, Inc. It operated as a one bank holding company until 2013.
In 1998 the bank launches the service of Online Banking, one of the first community banks in Virginia to do so.
In 1999, the bank celebrated its 100th Anniversary at Natural Bridge Hotel.
In 1999, the bank completed many Y2K preparedness exercises but the turn of the Century did not impact business operations.
In 2000, the bank opened its temporary office in Lexington and relocated to its permanent office in 2003.
In 2001, the bank opened its Peters Creek office.
In 2002, Botetourt Bankshares, Inc. became an SEC registrant.
In 2002, G. Lyn Hayth, III was named the 6th President of Bank of Botetourt.
In 2004, the bank opened its Fairfield office.
In 2005, the bank opened its Loan Administration Center.
In 2007, the bank opened its Smith Mountain Lake office.
In 2008, the bank opened its Natural Bridge office.
In 2008, U.S. Banker Magazine ranked Bank of Botetourt as one of the Top 200 Community Banks in the United States at #97 on the list.
In 2010, H. Watts Steger, III retired and G. Lyn Hayth, III was named CEO.
In 2011-2012, the bank and its customers experienced the adverse impact of the Great Recession.
In 2012, through regulatory relief, Botetourt Bankshares, Inc. deregistered from the SEC.
In 2013, the bank converted its mainframe computer system.
In 2014, the bank introduced its mobile banking app.
In 2015, the bank opened a loan production office in Salem and then a full-service office in 2016.
In 2016, the bank relocated its Daleville office to Daleville Town Center.
In 2016, the bank opened its first Cave Spring office and then relocated to its permanent location in 2019.
In 2016, the bank introduced Virginia Mountain Mortgage as its mortgage trade name.
In 2017, Delegate Terry Austin presented House Resolution 465 from the Virginia General Assembly Commending Bank of Botetourt.
In 2018, the bank introduced Botetourt Wealth Management.
In 2018, the bank successfully raised net capital proceeds of $7.6 million to support the future growth of the bank.
In 2019, the bank launched Treasury Management services.
In 2020, the bank participated in the U.S Department of the Treasury’s Paycheck Protection Program (“PPP”), lending $44 million, serving more than 480 customers, and saving almost 5,000 jobs. The average loan value amounted to $60K, with 90% of those servicing businesses with 25 employees or less.
In 2021, the bank opened its Vinton office.
In 2022, BOB was recognized as one of American Banker’s Top 200 Community Banks in the U.S. In its May 2022 issue, American Banker ranked Bank of Botetourt 165th on the list of the country’s 200 top-performing publicly traded community banks with assets under $2 billion, based on three-year return on average equity (ROAE) as of December 31, 2021. Bank of Botetourt is one of seven Virginia community banks that made the list.
BOB announced that Michelle R. Austin has been named the 7th President in its 124-year history and has been appointed to its Board of Directors, effective February 20, 2023.
Bank of Botetourt’s Board of Directors voted to appoint Dustin G. Bays as its Bank’s Chief Financial Officer. Dustin joined Bank of Botetourt in 2011 and most recently served as its Chief Accounting Officer.
In May 2023, BOB announced that Tommy L. Moore who serves as the Circuit Court Clerk for Botetourt County has retired from its Board after serving 41 years from 1982-2023, including the past two years as Chairman of the Board.
In 2023 The Board of Directors voted to elect Joyce R. Kessinger as Chair, re-elect G. Lyn Hayth, III as Vice-Chair. Joyce R. Kessinger has been a Director of the Bank since 1986, and as Chair will continue to guide Bank of Botetourt into the future.
In April 2024, A. Randy Hostetter is appointed to the Board of Directors.
On October 1, 2024 the Bank celebrated it’s Quasquicentennial Anniversary.
On October 1, 2049 the bank will open the time capsule that was sealed in 1999.
While many banks fixate on your finances, we’re here to put you first. Our mission is to be a trusted partner, delivering thoughtful advice and innovative yet easy-to-use products that genuinely enhance your everyday life.
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