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 regulatory approval for entrance into Tennessee and opened its first office in Johnson City. Three additional offices in Tennessee would soon follow suit. Several years later in 1998, the Operations Center was established in Washington County.

Name and logo change

Grand Opening of Johnson City, Tennessee office in 1995.

2000 – Present
At the dawn of the new century, big changes were underway for First Bank & Trust Company. In 2000, the bank established a presence in the Shenandoah Valley by opening the first office in Staunton, Virginia. In 2001, the Bank merged First Bank & Trust of Tennessee with First Bank & Trust Company of Virginia. Agriculture lending had become an area of expertise for First Bank & Trust Company and business was thriving and prosperous. As a result, the Agricultural Division established its headquarters in Harrisonburg, Virginia. Several years later, the Bank filled the gap between the Southwest Virginia Region and the Shenandoah Valley Region, by establishing a presence in a fourth region in the New River Valley. The Christiansburg, Virginia office was the first branch to open in the New River Valley in 2007.

First Bank and Trust Company office and Agricultural Division Headquarters in Harrisonburg, Virginia.

So there it was. First Bank & Trust Company had laid the groundwork for what turned out to be 40 years of remarkable success. The Bank had established a branded presence up and down the I81 corridor, from as far South as Johnson City, Tennessee to offices today as far North as Winchester, Virginia with over $1.9 billion in assets.

First Bank and Trust Company Office Locations

Today, all 31 offices are grounded in their respective communities and remain dedicated to the people and businesses they serve. The foundation of First Bank & Trust Company’s philosophy lay in its commitment to the community, as is evident from the Bank’s long history of giving back. From 1994 to the middle of 2019, First Bank & Trust Company contributed over $3.1 million dollars to the communities in its market area. First Bank & Trust Company continues to make significant investments in the community. Their giving includes educational scholarships, museums, performing arts centers and other non-profits as well as fairs, festivals and local schools in each of their markets.  Bank employees are active members of their unique communities and are exemplary brand ambassadors for a company that truly cares about the communities it serves. Employees, too, fully embrace a culture of giving, which is evident in the company’s fund raising initiative referred to as #FBTCARES, where employees have the option to pay money to wear jeans to work. All the proceeds go to area causes.

First Bank and Trust Company employees are pictured volunteering with the Habitat for Humanity.

First Bank and Trust Company employees are pictured volunteering with the Rescue Mission of Roanoke.

First Bank & Trust Company currently operates from its four established regions: Southwest Virginia, East Tennessee, Shenandoah Valley and the New River Valley.  The company continues to build on the foundation established by its founding principles of integrity, honesty and accountability.