Our History and Our Vision
The Bank of Fincastle has an enduring history and a proud legacy in The Town of Fincastle and Botetourt County.
How Banking in Fincastle Began
In 1856 and for the several years following, Farmers’ Bank served the Fincastle community. With the beginning of the War Between the States in 1861, Farmers’ Bank converted its assets to Confederate securities. In 1865, following Robert E. Lee’s surrender at Appomattox, Confederate assets became worthless and the Farmers’ Bank, and many other Virginia Banks, were forced to discontinue operations.
The Bank of Fincastle is Born
On September 20, 1875, a group of local residents petitioned the District Court to approve a new bank in Fincastle. The Honorable Henry E. Blair, Circuit Judge, approved the petition and The Bank of Fincastle was born on September 22, 1875.
Many believe that The Bank of Fincastle began operating from the small building adjacent to the old Post Office building and the present Voter Registration building on the corner of Main and Roanoke Streets. The Bank remained at that location until May 8, 1908, when we moved to our current location at 17 South Roanoke Street in Fincastle.
The Second Oldest Business in Botetourt
The Bank of Fincastle is second only to The Fincastle Herald in being the oldest business to remain open in Botetourt County for more than 140 years. The oldest, The Fincastle Herald, began its publication in 1866 and for the past 150 years has published one paper per week. The Bank of Fincastle has continued without ceasing operations through two major wars, World War I and World War II, The Great Depression of the 1930’s and several recessions in our more recent history.
Leadership and Commitment to Community
Since its beginning, a strong local identity and commitment to our customers and community have been an integral part of The Bank of Fincastle’s success. It is even said that the Bank’s first vice-president, Mr. S. B. Smith, kept a diary so detailed and accurate, including births and deaths, that it served as proof of many events not otherwise recorded in public history. Our commitment has passed from one Bank President to the next, as each has done their part in making the Bank a visible part of family and business life in the community.
We have continued our growth and maintained market share leadership to present day. With our headquarters remaining in Fincastle, the Bank decided to open its first branch in Daleville in 1969. Since that time, branches have opened in Troutville, Cloverdale, Blue Ridge and at The Glebe Retirement Community in Daleville, along with the Daleville Express Drive-Thru.
There have been eight Presidents in the history of the Bank:
J.H.H. Figgat 1875-1897
Turner McDowell 1897-1939
E.E. Mayhew 1939-1949
F.H. Booze 1949-1950
Robert D. Stoner 1950-1975
Harry M. Williamson 1975-1990
John Kilby 1990-2015
C. Scott Steele 2015-present
Our current president, Scott Steele, was appointed by the Board of Directors as President and CEO on July 1, 2015.
Mission, Vision and Core Values
In 2016, The Bank of Fincastle further defined our mission, our vision for the future and our core values.
The Mission of The Bank of Fincastle is to provide comprehensive financial services for our community through knowledgeable professionals while creating shareholder value.
The Vision of The Bank of Fincastle is to be a contemporary community bank, built upon a proud heritage, able to offer innovative solutions and respond to evolving customer needs.
The Core Values of The Bank of Fincastle are:
Community – building a prosperous future together
Integrity – providing trusted financial services fairly and responsibly
Excellence – enhancing the banking experience by exceeding customer expectations
Loyalty- honoring long-standing relationships
Independence – local decisions and timely responses
Since 1875, The Bank of Fincastle has been committed to the communities we serve. We will continue our commitment to independence, integrity and excellence in meeting the ever-changing financial needs of our customers and by providing value to our shareholders.