Bank Looks to Expand Presence in Downtown Roanoke with New Branch

Bank Looks to Expand Presence in Downtown Roanoke with New Branch

First Bank, a financial institution located in the Shenandoah Valley, is expanding its reach into the Roanoke Valley. With an already established presence in Botetourt County, First Bank is looking to open a new branch in downtown Roanoke. Todd Ross, a former banker and lender at Pinnacle Bank in Roanoke, is leading the expansion efforts for First Bank. According to Dennis Dysart, president and chief operating officer of First Bank, the decision to expand is based on having the right market leader and team in place.

The State Corporation Commission recently received an application from First Bank to open a new branch at the former BB&T location at 310 First St. S.W. With headquarters in Strasburg, First Bank is a 20-office financial institution with $1.4 billion in total assets. The bank began its expansion into the Roanoke Valley in 2021 with the acquisition of Bank of Fincastle. Currently, all of its branches in the area are situated in Botetourt County, including Blue Ridge, Daleville, Fincastle, Troutville, and Cloverdale.

If the new branch application is approved, First Bank plans to open its downtown Roanoke location around June 1. There are no known barriers to approval at this time. For more information on the bank’s expansion efforts and plans for growth in the Roanoke Valley, contact Jeff Sturgeon at (540) 981-3251 or jeff.sturgeon@roanoke.com. Subscribe to the latest local business news for free delivered weekly to your inbox.

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