History

Powell Valley National Bank Through the Years

1888
Open for business! Jonesville, VA

<big>1888</big><br /> Open for business! Jonesville, VA

The Powell Valley National Bank opened its doors in 1888 at 33785 Main St. in Jonesville, Virginia. The earliest documented financial statement is dated for the year 1900. At that time the bank showed total assets of $89,000.00 and a 16.8% capital ratio. Even in its earliest years, the bank was strongly capitalized.

1940
New office building

<big>1940</big><br /> New office building

In the 1940’s Powell Valley National Bank relocated from its original office in a Victorian style home, to a new construction office across the street. As the bank continued to grow, it ran out of space, and PVNB built its new office at 33785 Main St, the site of the original bank. Powell Valley National Bank’s logo was a Hereford Bull, a long admired symbol of the agricultural roots of our region.

1972
New main office building in Jonesville

<big>1972</big><br /> New main office building in Jonesville

1977
First branch location opens – Pennington Gap, VA

In 1977 the bank opened its first branch office just down the road in Pennington Gap, VA.

1994
Wise, VA office opens

<big>1994</big><br /> Wise, VA office opens

The Wise, VA office located at 540 West Main Street was opened in 1994 as PVNB acquired the facility from Dominion Bank.

1998
Big Stone Gap office opens

<big>1998</big><br /> Big Stone Gap office opens

The next branch to come along was our Big Stone Gap, VA office in 1998, formerly Charter Federal. This office relocated to its new location at 228 East Fifth Street in 2004.

2008
New office in Duffield, VA

<big>2008</big><br /> New office in Duffield, VA

In 2008 Powell Valley National Bank opened its most recent branch in Duffield, VA.

2011
PVB opens new operations center in Jonesville, VA

2013
PVB celebrates 125 years!

Celebrating over 125 years in operation, Powell Valley National Bank has survived and prospered through 27 economic recessions, including the Great Depression and the Great Recession of 2008.

2014
Powell Valley Investment Services & Kingsport Loan Production office opens

<big>2014</big><br /> Powell Valley Investment Services & Kingsport Loan Production office opens

In 2014 the bank created an investment affiliate to offer a wide range of investment, securities, and financial planning services to the region. Powell Valley Investment Services along with our Powell Valley Loan Production Office is located at 217 Broad Street in Kingsport, TN.

2017
Loan production office opens in Abingdon, VA

<big>2017</big><br /> Loan production office opens in Abingdon, VA

In 2017, PVB opened another loan production office in Abingdon, VA.

Powell Valley National Bank is the oldest bank in far Southwest Virginia, and Virginia’s 5th Oldest Bank. According to most recent FDIC deposit reports, PVNB is number one in market deposit share for the Lee, Scott, and Wise County region.