A letter to all our customers and friends.

 

Saturday, May 25, 2024

 

150 years ago today, The Bank of Marion had been open for just a little over a month. Smyth County residents were beginning to open accounts, make deposits, and seek other banking services at their new hometown bank. Before the bank opening on April 12, 1874, in the historic Old Jackson Building at of Corner of Main and Park Streets, local individuals and business owners had to travel to either Abingdon or Wytheville for banking services.

 

Naturally, there were concerns about the viability and permanence of this new bank. A national financial crisis and recession had started in 1873 and persisted until 1877. While post-civil war reconstruction was waning, its effects had depressed the economy.

 

Despite these and other challenging economic headwinds in southwestern Virginia, and the South in general, Minter Jackson, founder of the bank, together with his optimistic and energetic board of directors and employees, persevered. Their resilience was rewarded by the ensuing national economic rebirth in the later 1870s and 1880s when the economy rose at the fastest rate in history at that time.

 

The Bank of Marion has withstood scores of other challenges throughout the years. From World War I (1914-1918), to the Influenza Pandemic (1918-1920), to the Great Depression (1929-1939), to World War II (1941-1945), to the Great Recession (2007-2009), to the COVID Pandemic (2020-2023), and the scores of recessions in between, the bank has continued to stand tall and strong. We now have 19 branches and offices throughout the region.

 

The foundational values of determination, optimism, and the steadfast commitment to excellence set by our founders became central operating principals of our bank. These values have steered us through decades of growth and success and ensured our longevity. Today we stand as the third oldest continuously operating bank in Virginia and one of the oldest community banks in the United States.

 

As a testament to our continuing commitment to our customers and community, we recently completed an ambitious project to upgrade our bank’s operating system. This system upgrade, born from years of research and months of intense work will streamline operations and greatly enhance our customer service capabilities.

 

It is fitting that we enter our 150th year with a renewed commitment to our legacy of strength, continuity, and dedication to constant improvement.

 

We hope you will join us in some of our upcoming events and celebrations in observance of 150 years of service to our customers, friends, and communities!

 

Sincerely,

Charles C. “Charlie” Clark

Chairman,

The Bank of Marion Board of Directors