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Bank of the James celebrating 25th anniversary

Bank of the James Financial Group, headquartered in Lynchburg, Virginia, is celebrating its 25th anniversary as a community bank in Virginia.  With a foundation of fi­nancial commitments from investors, the Bank opened its doors in 1999. Since its founding, investors, shareholders and clients have tangibly demonstrated their con­fidence in the Bank’s vision and people through investments, stock ownership, and selecting Bank of the James as the bank of choice.  This confidence and community investment have funded its operations and ­financed growth.

Bank of the James opened its doors in July, 1999 with a commitment to serving its communities by providing access to dedicated, experienced professionals, building value for its shareholders, and giving back through community involvement. From a start-up team of 12 employees and 10 directors, the Company has grown to more than 160 employees, a 13-member Board of Directors, and over 40 business and community leaders who comprise its regional advisory boards.

As its service area continues to grow, Bank of the James currently operates 26 regional offices, with its newest locations in Buchanan and Nellysford, Virginia. “It has been a privilege to serve the people of Virginia for the past 25 years,” said Co-founder and CFO Todd Scruggs.  “We’ve witnessed tremendous economic growth and development in our markets and are proud to have partnered in this success!”

Consistent investment in reaching out to new markets, expanding its team of expert bankers, implementing new technology and enhancing its range of business banking solutions have generated consistent growth and positive fi­nancial performance.  In December 2021, Bank of the James acquired Pettyjohn, Wood, & White, Inc., an SEC-registered investment advisor based in Lynchburg.  This acquisition positioned the Bank to further enhance its capacity to deliver premier financial services.  Pettyjohn, Wood & White operates independently as a wholly-owned subsidiary of the bank holding company and provides investment advisory services to high-net-worth individuals, corporations, charitable organizations, and pension and profit-sharing plans.
In June, American Banker ranked Bank of the James Financial Group as #56 in the Top 100 banks in the country with assets under $2 billion.  Additionally, this identified the Bank as the second-highest ranked bank in this category in the state of Virginia.

Co-founder and CEO Bob Chapman remarks, “It has certainly been a professional as well as a personal highlight to have been associated with all the good folks that have made Bank of the James Financial Group what it is today.  The relationships, both internally within the company and externally with our clients, have been so rewarding and a real honor over the last 25 years.”