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.
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.
In 1977 the bank opened its first branch office just down the road in Pennington Gap, VA. The Wise, VA office located at 540 West Main Street was opened in 1994 as PVNB acquired the facility from Dominion Bank. 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. In 2008 Powell Valley National Bank opened its most recent branch in Duffield, VA. 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.
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.
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.