Powell Valley National Bank is headquartered in JONESVILLE and is the 40th largest bank in the state of Virginia. It is also the 1,862nd largest bank in the nation. It was established in 1888 and as of June of 2024, it had grown to 92 employees at 7 locations. Powell Valley National Bank has an A health rating.
I recently left the largest credit union in my area and one of the largest in the nation to switch over to this home town bank. The reason was simple. The credit union could not deliver on my business banking needs. When you start a small business on the front end you do not know the extent of your banking needs. You need a bank that can grow with you and accommodate your needs. Powell Valley Bank was exactly that for me. As my company grew, the increase in new banking features I needed grew also. Powell Valley & Roy have been great to work with and has taken extremely good care of me. At Powell Valley Bank you are not treated like a number but rather as a valued customer. They are all so friendly and most of them know you by name unlike the larger banks/credit unions. Doing business with a home town bank has it advantages and the fact that they have been around since 1888 proves their stability in the market place. Powell Valley was able to deliver on my product needs by offering me desktop check scanners, business mobile deposits so that my team could make their deposits to the company account on the go and not have to come back into the office. This was huge as the large credit union could not offer this. I could go on and on but I am very pleased with my decision to leave the credit union and convert to a home town bank.
Overall | |
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FDIC Certificate # | 6863 |
Year Established | 1888 |
Employees | 92 |
Primary Regulator | OCC |
Profit Margin | |
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Return on Assets - YTD | 0.43% |
Return on Equity - YTD | 4.72% |
Annual Interest Income | $12MM |
Assets and Liabilities | ||
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Assets | Q2 2024vs Q2 2023 | $469.2MM$470.3MM |
Loans | Q2 2024vs Q2 2023 | $354.9MM$334.9MM |
Deposits | Q2 2024vs Q2 2023 | $422.5MM$425.7MM |
Equity Capital | Q2 2024vs Q2 2023 | $43.9MM$41.7MM |
Loan Loss Allowance | Q2 2024vs Q2 2023 | $4.6MM$4.3MM |
Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $611K$1.3MM |
Real Estate Owned | Q2 2024vs Q2 2023 | $0$42K |
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Powell Valley National Bank Locations | ||
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Big Stone Gap Branch | 211 East Fifth Street | Big Stone Gap, VA 24219 |
Duffield Branch | 301 Duff Patt Hwy | Duffield, VA 24244 |
Powell Valley National Bank | 33785 Main Street | Jonesville, VA 24263 |
Pennington Gap Branch | 42180 East Morgan Avenue | Pennington Gap, VA 24277 |
Wise Branch | 540 West Main Street | Wise, VA 24293 |
Powell Valley National Bank- Kingspo | 240 W Center St | Kingsport, TN 37660 |
Abingdon Branch | 24495 Lee Hwy | Abingdon, VA 24211 |