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Commercial Loans and The Community

We’ve all heard them. There is no shortage of cheesy jokes about bankers. By the very nature of their profession, they are easy prey to comedians. What you don’t hear very often is the truly good things community bankers do.  Some success stories have enough “feel good” to supply the Hallmark Channel with a line up for six months. For the sake of explaining the impact of community banking, let’s take a look at the fictional town of East Park.

East Park was a thriving downtown village in the 50’s, 60’s and the early 70’s. Huge buildings with charming storefronts lined the streets.  At the heart of the downtown district was the local drug store where people sat on swivel chairs and caught up with each other over a grilled cheese sandwich and a root beer float. People liked that you could get your prescription, buy a birthday card and have lunch, all right there in downtown East Park.

The demise of East Park’s downtown was something that took place over an extended period of time, but th…
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From Hometown To Campus, We've Got You Covered

We offer products and services to meet the needs of our customers throughout the many different stages of life. Here are the best ones for college students.

Checking with Perks Where else can you get roadside assistance, cell phone protection and discounts all from your checking account? Gain access to the FirstPerks app when you open a Checking with Perks account and enjoy over 450,000 discounts and deals from national retailers and local businesses. Use this budget-friendly feature of the FirstPerks app to save money in your hometown or at your favorite places around campus.

Card Control with MobiMoney Maintaining academics and a social life can be challenging and the last thing you want to deal with is a missing check card. With MobiMoney, you can turn your card on or off from your mobile device. But that’s not all. MobiMoney also allows you to set spending limits and monitor transactions within the app or by receiving instant alerts via text message. You can even set merchant prefer…

Choosing The Right Payment Processing Equipment for Your Business

Operate your business smarter, not harder by choosing the right payment processing equipment.
There are a multitude of duties and responsibilities that demand your time when you’re running a business. Aside from managing inventory, supervising employees and all the other administrative duties, your payment system may not be top-of-mind, which could be a deal-breaker when it comes to making your business more profitable. Choosing the right equipment can seem like a daunting task, but it’s all about understanding how you want to get paid.

Accepting credit cards, checks or both If you accept credit cards, the Clover suite of products makes doing business easier by providing you with the right mix of POS hardware and software allowing your business to accept credit cards, EMV® chip and contactless payments like Apple Pay® from customers, safely and securely.

Powered by technology from First Data, an industry leader in payment processing solutions, Clover is not just an EMV solution, it&#…

Celebrating 40 Years of History

Most anyone you speak to in the cozy downtown streets of Russell and Washington County Virginia will tell you a little something they know about First Bank & Trust Company. The Bank name is well known, and its brand is woven into the very fabric of these communities. However, there are only a handful of people who know this Bank’s original name. Chartered as First Russell County Bank and Trust Company in 1976, the Bank opened its doors with 185 original shareholders, 50,000 shares at $20 per share, $1 million in capital and one office on Main Street in Lebanon, Virginia.  That was just the beginning.

1980’s – 1990’s
In 1984, First Russell County Bank moved into Washington County and opened its second office in Abingdon, Virginia. The name changed to The First Bank & Trust Company and the Bank continued to grow branch offices in southwest Virginia. In 1992, First Bancorp, Inc., the holding company for The First Bank & Trust Company, was organized. In 1995, the Bank received…

Who Qualifies For A Residential USDA Land Loan

Like some other government entities, the USDA backs certain loans made to eligible borrowers. 

USDA land loans are actually among the easier types of subsidized loans to qualify for, but they still have specific requirements. These loans are intended for borrowers with a moderate level of income who want to build on rural land.

Requirements To Determine Who Qualifies For A USDA Land Loan USDA land loans finance plots of land on the condition that the borrower intends to build a home on the land.

As such, a number of the requirements one will need to meet when applying for this type of loan revolves around that concept.
Land requirements  First, USDA loans are only available in certain eligible areas - typically rural locations. Additionally, the plot of land can be no larger than the average size of other properties in the area. This is because USDA-backed financing is reserved for those who truly benefit from it. As such, if you’re hoping to finance a plot of land that would …

Pay bills, the babysitter and more – directly from the First Mobile app!

Learn how to Pay bills from the First Mobile app!Before your calendar fills up this summer, consider spending a few minutes adding payees and setting up payments in the First Mobile app. You can even schedule payments ahead of time. You'll thank us later! You must be enrolled in Online Banking in order to utilize Bill Pay and access your accounts via the Online Banking portal and First Mobile app. Not enrolled? No problem, enroll now by filling out the form on our website. Now, let's get started!
How to add a payee1.Sign in to the First Mobile app and select the menu icon in the top left corner.

2.Select "Pay Bills" from the drop down menu.

3. With the "Payee" box highlighted in white, select the add payee icon in the top right corner of your screen.
Next, you will be prompted to select one of two payee options, person or business. For demonstration purposes, we have selected to pay a person.

4.Select a payment method.
Choose from three options: pay by check, by …

6 Basic Retirement Guidelines from First Bank & Trust

Here are six basic guidelines to keep in mind when developing your personal retirement strategy.

1.Pay Yourself First. Establish a dollar amount you can save comfortably every month. Always remember, you are entitled to keep a portion of what you earn. 2. Don't Bank on Your House for Retirement Income. A house is primarily a home... not an investment for your retirement. While you may eventually trade down when you retire, consider the equity in your home an emergency reserve, not a primary source of income. 3.One Good Place to Save for Retirement Is a Company Retirement Plan. Remember to consider other tax-advantaged savings vehicles as well. 4.Make Retirement Your First Savings. If your disposable income is limited, save money in your retirement plan before funding long-term goals such as your child's college education. Remember, your retirement is the largest expense you'll ever have to fund. Use our retirement calculator to see how much you should be saving each month. 5.Av…