Powell Valley National Bank was established in 1888 in Jonesville, Virginia. With bank headquarters remaining in Jonesville, Powell Valley National Bank has opened branches in Pennington Gap, Wise, Big Stone Gap, and Duffield over the years.

In 2014, Powell Valley National Bank created an investment affiliate, Powell Valley Investment Services. Powell Valley Investment Services affiliated with Osaic Insitutions, Inc., and the Powell Valley Loan Production Office is located in Kingsport, TN. With over 135 years of community banking experience, Powell Valley National Bank is the oldest bank in far Southwest Virginia and the 5th oldest bank in Virginia.

The bank has prospered through 27 economic recessions, and continues to have one of the strongest capital ratios in the United States. According to the most recent FDIC deposit reports, Powell Valley National Bank is #1 in market deposit share for the Lee, Scott, and Wise county region.