You may have heard the news – HomeTown Bank will be merging with Danville-based American National Bank in early 2019. This may or may not come as a surprise to you because this does tend to happen regularly in the banking industry. The good news is, we’re not leaving the place we call home or the people and communities we serve. When the merger is complete, Roanoke will become the banking headquarters for the state of Virginia with the important function of credit administration residing here as well. The corporate headquarters for American National Bank will remain in our neighboring community of Danville where the bank was first established over 100 years ago.
How does this help the community?
As a combined bank, we will be able to serve the needs of our entire market. A bank’s lending capacity is regulated by its capital base so by joining forces with American National Bank, we’ll have the additional scale we’ll need to meet the borrowing needs of any business or individual in our community. This takes HomeTown Bank to the proverbial next level, giving us access to more capital in which to serve our dynamic and growing communities.
We also will have three HomeTown Bank board members join the American National Bank and Trust Board as well as a Transition Board with everyone very committed to a successful transition and partnership to ultimately help our communities thrive. Susan Still, President & CEO of HomeTown Bank will remain involved as President of the Virginia Banking operation until her retirement in 2019 and then stay on as a board member for American National Bank and Trust.
Why American National Bank?
HomeTown Bank has been approached by and considered partnering with other banks both large and small as well as in and out of Virginia. After discussions with American National Bank, it was apparent there was a definite complement of the two banks’ cultures and values. In this industry and with any consolidation, mergers can go poorly or very well. The ones that go well are due to the two companies being culturally aligned. At the very root, that’s what makes this partnership so fitting – we are both relationship-driven and very committed to our communities, our customers, our employees and our shareholders. American National has admired our bank so much, they’ve updated their current tagline of Relationship Banking to Welcome to HomeTown Banking. That says a lot about the direction of our combined bank.
From a customer standpoint, we will offer new services as we both bring something to the table. American National Bank offers Trust and Insurance Services while we have an amazing Private Banking group and in-house credit card program, to name a few. Plus, we are in the same or neighboring markets, but with little branch overlap so there will be less impact to our employees. On that note, many employees could see more opportunity and advancement potential with the larger, combined partnership.
I’m a HomeTown Bank customer. What should I expect?
The short answer is you should continue to expect the same great service you’ve come to value from us and continue to see the same helpful employees you know. Our banking systems and signage will not change until the middle of 2019 and we’ll be sure to regularly communicate any important details about that change. In the meantime, please let us know how we can help you with your banking needs. We are here to help and we hope you’ll soon see all the benefits as a result of this great partnership.
Thanks for allowing us to serve your banking needs. We look forward to continuing to Welcome you to Hometown Banking even when there is a new name on the building. We’ll post updates to this blog as we have them so please continue to follow us as we prepare to turn over a new leaf.