Bank of Botetourt Files Application for New Office at Melrose Plaza located in Roanoke City

Rhea-AI Summary

Bank of Botetourt (OTCPK: BORT and OTCPK: BORTP) has applied to establish a full-service branch in Roanoke, Virginia, at 2502 Melrose Ave, NW. The bank is partnering with Goodwill Industries to provide banking services at Melrose Plaza, aiming to strengthen Northwest Roanoke. The new branch will offer 24/7 ITM access, night deposits, and mortgage services through Virginia Mountain Mortgage.

This expansion underscores Bank of Botetourt's commitment to empowering the Northwest Neighborhood and promoting financial wellness. The branch will provide personalized banking services, including mortgage, commercial and agricultural lending, insurance, and wealth management solutions. With a 125-year history, Bank of Botetourt aims to become an integral part of the community, offering financial education and growth opportunities.

Positive

• Expansion into new market with full-service branch in Roanoke
• Partnership with Goodwill Industries for increased community presence
• Offering 24/7 ITM access and night deposit services
• Providing mortgage services through Virginia Mountain Mortgage
• Expanding range of services including commercial and agricultural lending, insurance, and wealth management

Negative

• None.

News Market Reaction – BORT

+1.64%

1 alert

+1.64% News Effect

On the day this news was published, BORT gained 1.64%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

BUCHANAN, Va., July 30, 2024 /PRNewswire/ -- Bank of Botetourt (OTCPK: BORT and OTCPK: BORTP) announced today it has made an application with its state and federal regulators to establish a full-service branch in Roanoke, Virginia. The new office will be located at 2502 Melrose Ave, NW, Roanoke, VA 24017. The Bank is partnering with Goodwill Industries to provide banking services at a new branch that will be a part of the Plaza which will contribute to the strength and resilience of Northwest Roanoke. Services will include a 24/7 accessible ITM with deposit capabilities and a night deposit. The Bank's mortgage company, Virginia Mountain Mortgage will also be available from this location.

"The Bank looks forward to becoming an integral part of Melrose Plaza and the Northwest Roanoke community. The opening of this new branch underscores the Bank's commitment to empowering the Northwest Neighborhood and encouraging financial wellness and stability," shared Ned Honts, Executive Vice President, and Chief Lending Officer. The Bank aims to become a supportive pillar in the community through offering financial education, growth opportunities, and community support. Within Melrose Plaza, the Bank will have a fully operational branch that will provide financial services through prioritizing relationship Banking and facilitating one-on-one counseling, on-site workshops, and educational seminars. Consumers are encouraged to become familiar with their Bankers and we look forward to having direct and meaningful interactions with residents.

As a 125-year-old community bank, this expansion highlights the Bank's commitment to providing personalized banking services, including mortgage, commercial and agricultural lending, insurance, and wealth management solutions to customers throughout the region. Bank of Botetourt has a rich history of serving the banking needs of individuals and businesses, and the new office will provide an opportunity for Bank of Botetourt to be a valuable member of Roanoke City. The new office will be staffed by experienced banking professionals committed to providing the highest level of customer service. 

Bank of Botetourt has a long-standing reputation for its commitment to technology, offering innovative solutions that make banking more convenient and accessible for customers. Through the Bank's digital platform, customers can manage their accounts, pay bills, and access a suite of wealth management tools. 

About Bank of Botetourt 
Bank of Botetourt was chartered in 1899 and operates thirteen retail offices in Botetourt, Franklin, Roanoke, and Rockbridge counties, the City of Salem, and the Town of Vinton, all in Virginia. Bank of Botetourt also operates a mortgage division, Virginia Mountain Mortgage, and a financial services division, Botetourt Wealth Management.

View original content:https://www.prnewswire.com/news-releases/bank-of-botetourt-files-application-for-new-office-at-melrose-plaza-located-in-roanoke-city-302206571.html

SOURCE Bank of Botetourt

FAQ

What is Bank of Botetourt's stock symbol?

Bank of Botetourt trades under the stock symbols OTCPK: BORT and OTCPK: BORTP.

Where is Bank of Botetourt's new branch located in Roanoke?

The new branch will be located at 2502 Melrose Ave, NW, Roanoke, VA 24017.

What services will Bank of Botetourt's new Roanoke branch offer?

The new branch will offer 24/7 ITM access with deposit capabilities, night deposits, mortgage services, and a range of banking services including commercial and agricultural lending, insurance, and wealth management solutions.

Who is Bank of Botetourt partnering with for its new Roanoke branch?

Bank of Botetourt is partnering with Goodwill Industries to provide banking services at the new branch in Melrose Plaza.