History

Proud of our Main Street heritage and long-standing independence.

Key Dates and Milestone

  • 1909 The charter for “American National Bank of Danville” was issued on February 15 and on February 17, American National opened to offer community banking services to the citizens of Danville. The new Bank had capital of $100,000, surplus of $25,000, and deposits of about $225,000. The location of the Bank was on the eastern corner of Main and Market Streets in quarters that had previously housed Union Exchange Bank.
  • 1914 Congress passed legislation to begin formation of the Federal Reserve System. The Board voted to join as soon as membership was available.
  • 1915 The Bank moved to the western corner of Main and Union Streets in the Dudley Building, which it occupied until 1933.
  • 1920 The deposits of the Bank had exceeded $1.6 million. Frank Talbott was elected President.
  • 1925 William R. Fitzgerald was elected President and assets were at $3.4 million.
  • 1927 The Trust Department was organized and began to offer trust services.
  • 1929 At the annual shareholders meeting, a name change to “American National Bank and Trust Company” was approved.
  • 1929 William Fitzgerald was recorded stating at the November meeting “The Bank has passed through a strenuous period during the past ten days due to the crash in the stock market.” 
  • 1933 The Bank purchased the building on the corner of the Main and Market Streets, formerly occupied by the Commercial Bank, which closed as a result of the depression.
  • 1935 As Danville was struggling out of the Depression, Wayles R. Harrison, then cashier and later President of American National, initiated what was first called “the character loan”—today’s installment loan. When Harrison introduced this new loan, it was greeted with skepticism by others in the banking community as banks typically desired a guaranteed form of collateral.
  • 1933-1938 The Bank more than doubled assets to cover $4.6 million.
  • 1942 Wayles R. Harrison was elected President. During his tenure, the Bank experienced outstanding growth.
  • 1948 The first branch office of the Bank opened at the corner of Jefferson and Loyal Streets, known as “Five Forks” and offered the first drive-in service for our customers, which was also the first in the Commonwealth. Assets grew to over $16.5 million. 
  • 1949 Stuart L. Brown was elected President.
  • 1956 New residential developments and the establishment of outlying retail businesses in Danville prompted it's first additional location to be opened in Danville. The Bank’s assets exceeded $25 million.
  • 1962 William H. Jefferson was elected President.
  • 1973 The home office at 628 Main Street opened, at the same time the the city embarked on an ambitious “Downtown Revitalization” project.
  • 1980 James A. Motley was elected President. Assets reached almost $88 million.
  • 1984 Three Automated Teller Machines (ATMs) were installed to provide 24-hour service seven days a week to customers.
  • 1984 American National Bankshares Inc. was organized for the purpose of acquiring all of the outstanding shares of American National Bank and Trust Company. Under an agreement and plan of merger, the Bank was acquired by the Corporation on September 1, 1984.
  • 1993 Charles H. Majors became President of American National. The banking philosophy of “Relationship Banking” was adopted.
  • 1995 The Bank expanded to Pittsylvania County through the purchase of Crestar in Gretna, Virginia.
  • 1996 American National completed the merger of Mutual Savings Bank, FSB, increasing assets from $249 million to $392 million and adding three offices. It subsequently acquired a Yanceyville office, growing assets to $429 million.
  • 1999 American National Bankshares (AMNB) became listed on NASDAQ. Chatham and Martinsville locations were opened and our 24-hour telephone phone banking system was introduced.
  • 2000-2006 The bank expanded to South Boston, Ridgeway, and Lynchburg, Virginia. AMNB was added to the Russell 2000 Index. 
  • 2001 American National launched its new online banking platform.
  • 2010 Jeffrey V. Haley was named President of American National Bank and Trust Company (the Bank).
  • 2011 The Bank expanded into North Carolina with the acquisition of Mid Carolina Bank, adding eight offices in Burlington, Graham, Mebane and Greensboro.
  • 2012-2013 Jeffrey V. Haley was named President & Chief Executive Officer of the Bank and holding company.
  • 2014 Charles H. Majors retired from his role as Executive Chairman on Dec. 31, 2014, but remains Chairman of the Bank and the Company.
  • 2015 The Bank expanded into Franklin County with its acquisition of Franklin Community Bank. Shortly following, it opened a de novo location in Roanoke, VA.
  • 2017 American National launched a de novo banking presence in Winston-Salem expanding its reach within the Triad, while seeking a more permanent location.
  • 2019 The Bank acquired HomeTown Bank, further growing its market share in Roanoke and the New River Valley and to nearly $2.5 billion in assets. Roanoke, Virginia was named the state banking headquarters for Virginia and Greensboro, the state banking headquarters for North Carolina.