Powell Valley National Bank

What Powell Valley National Bank does

Powell Valley National Bank is a privately held, federally chartered community bank founded in 1888 and headquartered at 33785 Main Street, Jonesville, Virginia, operating under holding company Powell Valley Bankshares, Inc. The bank delivers retail, small-business, agricultural, mortgage, and treasury-management banking services through 7 full-service branches and 3 loan production offices across Southwest Virginia and Northeast Tennessee, with a new 2025 loan production office in Chesapeake, VA marking its first expansion outside the historical core. Its customer base is primarily individual consumers, local small and medium businesses, and regional farmers served through a relationship-led, local-decision-making model; it holds the #1 deposit market share in Lee, Scott, and Wise counties per FDIC data and has maintained a BauerFinancial 5-star rating for 47 consecutive quarters.

The core technology stack is built on a traditional core banking platform extended by Fiserv-powered mobile and online banking, with a feature set including Visa instant-issue debit cards with Tap to Pay, contactless card controls, Notifi SecureAlerts transaction monitoring, Zelle peer-to-peer payments, and Clover merchant POS systems. Lending products span fixed and adjustable-rate mortgages, home equity, construction, consumer, commercial, agricultural, and credit card lending (Platinum MasterCard consumer and business). Treasury management includes ACH, Remote Deposit Capture, Positive Pay, RemitPlus Express, and merchant services, while investment products are delivered through Powell Valley Investment Services, a wholly-owned affiliate offering securities and advisory services in partnership with Osaic Institutions, Inc.

The revenue model is a standard community-bank mix: primary income from net interest on mortgage, consumer, commercial, agricultural, and credit-card lending, supplemented by deposit account fees, stop-payment and wire fees, interchange on Visa debit and MasterCard credit cards, Clover merchant processing fees, and securities/advisory fees from the investment affiliate. Distribution is a hybrid of physical branch network and digital self-serve channels (online, mobile iOS/Android, text banking), supported by community marketing, social media, and the President/CEO's "Letters From Leton" blog.

Name

Powell Valley National Bank

Legal name

Powell Valley National Bank

Website

https://powellvalleybank.com

Company type

Private

Founded year

1888

Operating status

Operating

Headcount range

11–50 employees

Short description

Powell Valley National Bank is a privately held, federally chartered community bank founded in 1888, serving individual consumers, small-to-medium businesses, and agricultural borrowers across Southwest Virginia and Northeast Tennessee through 7 full-service branches and 3 loan production offices.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI), Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)

Keywords

• Community banking
• Retail banking services
• Commercial lending
• Consumer lending
• Treasury management

Headquarters

HQ city

Jonesville

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income from Lending: Primary revenue from interest earned on mortgage loans, personal loans, commercial loans, agricultural loans, and credit card balances
2. Deposit Account Fees and Charges: Monthly service fees on certain accounts when minimum balance requirements are not met, stop payment fees, wire transfer fees, and other ancillary charges
3. Credit Card Revenue: Interchange fees and interest charges on Platinum Collection MasterCard consumer and business credit cards
4. Merchant Services: Transaction processing fees from Clover POS systems provided to business merchants
5. Investment Services: Securities, advisory fees, and financial planning services offered through Powell Valley Investment Services partnership with Osaic Institutions, Inc.
6. Treasury Management Fees: ACH processing fees, remote deposit capture fees, Positive Pay fees, and other business banking service charges

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Powell Valley National Bank is a privately held community bank founded in 1888 that provides deposit accounts, consumer and commercial loans, payment cards, digital banking, treasury management, and investment services to individuals, small-to-medium businesses, and agricultural customers across Southwest Virginia and Northeast Tennessee. Operates through 7 full-service branches, multiple loan production offices, online and mobile banking channels, and a merchant services partnership with Clover.

Product overview

Powell Valley National Bank operates as a traditional community bank offering a unified platform of financial products and services organized around personal banking, business banking, digital banking, and investment services. The core product portfolio spans deposit accounts (checking, savings, CDs, IRAs), lending products (mortgages, personal loans, commercial lending, agriculture loans), payment cards (Visa debit and MasterCard credit), and treasury management services (ACH, merchant services, Positive Pay, Remote Deposit Capture). Digital banking is delivered through online, mobile (iOS/Android), and text banking channels with features including Bill Pay, Zelle, and Card Controls. Investment services are offered through Powell Valley Investment Services in partnership with Osaic Institutions. Additional services include safe deposit boxes, wire transfers, and notary services across physical branch locations in Virginia and Tennessee.

Differentiator

Problem solved

Functional benefit

Brands

• Powell Valley Investment Services: Investment services and securities offered through Osaic Institutions, Inc. A trade name of Powell Valley National Bank.

Products and services

• Free Personal Checking Account Free personal checking account with no minimum balance requirements, no monthly service charges, unlimited check writing, free Visa Debit Card, free online banking, free online bill pay, free Zelle, and free mobile banking with debit card controls. Requires $100 opening deposit.
• Interest-Bearing Checking Accounts Interest-earning checking account options including NOW Account ($1,000 minimum), Super NOW Account ($2,500 minimum), and Money Market Checking ($2,500 minimum opening). Includes a $5 monthly service fee if average daily balance falls below $1,000. Money Market accounts are limited to 6 transfers per statement cycle.
• Health Savings Accounts (HSAs) Tax-advantaged savings account for individuals with high deductible health plans, offering tax-preferred treatment of medical expense savings, preferred interest rates, and FDIC insurance.
• Statement Savings Account Basic savings account with no minimum balance requirements and no monthly fees, offering variable interest earnings compounded semiannually with unlimited teller deposits. Limited to 6 automatic/internet/telephone transfers per month.
• Young Savers Account Tiered savings account for individuals under 18, earning 5.00% APY on balances from $0.01 to $500 and 0.40% APY on balances over $500. APY effective February 12, 2025.
• Christmas Club Savings Account Seasonal savings account requiring a $10 minimum opening deposit, with interest accruing for the deposit duration and credited at maturity. Includes automatic transfer option. Early withdrawal closes the account.
• Certificates of Deposit FDIC-insured CD investments requiring a $500 minimum, available in terms from 6 months to 5 years with early withdrawal penalties potentially applying.
• Traditional IRA Tax-deferred retirement account where contributions may be tax deductible and earnings are not taxed until withdrawal.
• Roth IRA Retirement account with non-deductible contributions but tax-free earnings and qualified distributions, with no mandatory withdrawal age.
• Mortgage Loans Comprehensive mortgage products including fixed rate mortgages, adjustable-rate mortgages (ARMs), home equity loans, home equity lines of credit, construction loans, land loans, manufactured housing loans, and investment property loans. Supported by Virginia Housing Qualified Trainers on staff.
• Personal Loans Fixed-rate personal loans for various purposes including new and used car loans, unsecured loans, camper/boat/ATV/motorcycle loans, farm equipment loans, home improvement loans, and collateral loans using CDs and savings.
• Visa Debit Cards Visa debit cards available as instant issue at all PVB offices, featuring Tap to Pay contactless technology, acceptance at any Visa-accepting merchant worldwide, and integration with Apple Pay, Google Pay, and Samsung Pay digital wallets.
• Platinum Collection MasterCard Credit Cards (Consumer) Three consumer Platinum credit card options (Platinum Classic, Platinum Payback, Platinum Preferred) offering cash back or points rewards, with automatic enrollment upon first purchase.
• Business Checking Account Business checking account requiring a $100 minimum opening deposit, offering unlimited check writing and deposits, a free Visa Business Debit Card, and free Web Bill Pay.
• Business Platinum Credit Cards Three business Platinum credit card options including Platinum Payback (cash back) and Platinum Preferred (points), with automatic enrollment in the rewards program.
• Commercial Lending Business loan products including acquisition and development financing, commercial real estate loans, equipment and inventory financing, lines of credit, land loans, working capital loans, construction lending, letters of credit, and long/short-term notes.
• Agriculture Loans Specialized lending for farmers including livestock loans, crop financing, equipment loans, and farmland mortgages, offered by lenders with agricultural industry experience.
• Merchant Services (Clover POS) Clover-powered point-of-sale systems including Clover Go, Compact, Flex, Mini, Station Solo, Station Duo, and Kiosk, with comprehensive business management solutions including inventory management, employee scheduling, payroll integration, mobile loyalty programs, and Clover Capital working capital financing.
• ACH Services Automated Clearing House file processing enabling direct deposit payroll, customer auto drafts, and electronic vendor payments for improved cash flow and reduced paper check processing.
• Positive Pay Check fraud protection service that monitors checks presented for payment against an issued check register, reporting mismatches via early morning email alerts to business customers.
• RemitPlus Express Hosted remittance solution for scanning checks and payment coupons with same-day credit for deposits received by 4 pm ET, creating files for automatic Accounts Receivable posting.
• Business Online Banking Customizable online banking platform allowing business owners to set employee access permissions for account viewing, internal transfers, and account activity monitoring.
• Online Banking Free online banking platform providing account balance and transaction viewing, statement access, two-year transaction history, check images, fund transfers, loan payments, and export to financial management software.
• Online Bill Pay Free online bill payment service integrated with Online Banking, enabling payments to anyone from utility bills to mortgage payments with next-day delivery option, recurring payments, and eBill delivery.
• Zelle P2P Payments Fast, free peer-to-peer payment service integrated within online and mobile banking, enabling money transfers to friends and family using U.S. mobile numbers or email addresses, typically delivered within minutes.
• PVB Mobile Banking Mobile banking accessible via native iPhone and Android apps or text banking for non-smartphone users, offering account access, transfers, loan payments, bill payments, and mobile deposit on web-enabled devices.
• Notifi SecureAlerts Real-time account monitoring and notification system delivering instant alerts via text, email, or online banking message center for debit card purchases, ATM withdrawals, direct deposits, check clearances, and loan payment due dates.
• Card Controls Card management platform enabling users to turn debit or credit cards on/off, view where cards are stored online, set spending limits by location/merchant type/amount, create travel notifications, and dispute transactions.
• Powell Valley Investment Services Investment services division offering 401(k) rollovers, IRA accounts, mutual funds, fixed and variable annuities, indexed annuities, 529 college savings plans, stock and bond trading, life insurance, long-term care insurance, and REITs through partnership with Osaic Institutions, Inc.
• Safe Deposit Boxes Secure storage boxes available at all office locations in sizes ranging from 2x5 to 12x16 inches for safeguarding valuables and important documents.
• Wire Transfer Services Domestic and international wire transfer services initiated and completed at local branches, with same-day processing available for requests meeting daily cutoff times.
• STAMP Guaranty Services Securities Transfer Agents Medallion Program (STAMP) qualified signature guarantee service for securities transfers, guaranteeing signature authenticity and financial institution liability for forgery.
• Remote Deposit Capture Electronic check deposit service allowing businesses to scan paper checks for deposit from their desk, eliminating trips to the bank.

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability4 records

Feature7 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Osaic Institutions, Inc.coreStrategic or Co-development Partner · 1 January 2014In 2014, Powell Valley Bankshares, Inc. created an affiliate, Powell Valley Investment Services, offering securities through Osaic Institutions, Inc. The partnership provides customers access to investment products, financial planning, and securities services with local relationship managers.
• Clover (Clover Network, LLC)coreTechnology or IntegrationStrategic partnership to provide Clover point-of-sale systems to business customers. Clover helps simplify merchant operations with payment processing and business management solutions for restaurants, retailers, and service businesses.
• Zelle (Early Warning Services, LLC)coreTechnology or IntegrationPartnership to offer Zelle fast, safe money transfer service within PVB's online and mobile banking platforms. Enables peer-to-peer payments between bank accounts at different institutions.
• Apple PaycoreTechnology or IntegrationDigital wallet integration allowing customers to add PVB debit cards to Apple Pay for contactless payments
• Google PaycoreTechnology or IntegrationDigital wallet integration allowing customers to add PVB debit cards to Google Pay for contactless payments
• Samsung PaycoreTechnology or IntegrationDigital wallet integration allowing customers to add PVB debit cards to Samsung Pay for contactless payments
• FiservcoreTechnology or IntegrationTechnology provider powering PVB's mobile banking app, enabling real-time balances, account management, mobile deposits, transfers, and bill payments
• Virginia HousingminorOthersPVB has two Virginia Housing Qualified Trainers on staff (Mary Beth Baker and Sarah Moore) to assist customers with first-time homebuyer programs and special loan products
• WCYBminorGTM or Marketing PartnerFriday Night Rivals partnership with local TV station WCYB for community advertising and sponsorship of high school sports coverage
• Lunchbox276minorOthersCommunity support partnership with Lunchbox276 food program serving children in the region

Scale indicators7 records

Recent moves13 records

Expansion highlights5 records

Direct peers

• New Peoples Bankshares: Southwest Virginia community bank holding company headquartered in Honaker, VA, operating in the same regional market as PVB. Directly comparable in geographic footprint, customer base, and community banking model.
• F&M Bank: Farmers & Merchants Bank is a Virginia community bank headquartered in Timberville, VA operating in the Shenandoah Valley. Comparable community banking model with similar product offerings and scale to PVB.
• Bank of Botetourt: Virginia community bank headquartered in Buchanan, VA that offers similar deposit, lending, and small business banking services. Comparable community banking model serving small Virginia markets.
• Carter Bank & Trust: Virginia-based community bank headquartered in Martinsville, VA that provides comparable retail and commercial banking services across Virginia and North Carolina. Similar in scale, branch-based distribution, and community banking focus as PVB.
• Blue Ridge Bank: Virginia-chartered community bank headquartered in Luray, VA providing retail and commercial banking services. Comparable in scale, regional Virginia focus, and traditional community banking product suite to PVB.

Regional players

• First Bank: North Carolina-based community bank with select Virginia presence. Operates a similar community banking model in the Carolinas/Virginia region but is not directly competing in PVB's Southwest Virginia core markets.

Broad incumbents

• Pinnacle Financial Partners: Tennessee-headquartered regional bank with significant presence in Nashville, Knoxville, and surrounding markets including Northeast Tennessee. Competes for similar commercial and small business relationships in PVB's Kingsport/Bristol Tennessee footprint.
• Atlantic Union Bankshares: Large Virginia-based regional bank holding company headquartered in Richmond, VA with statewide branch network. Overlaps with PVB in Virginia geography but operates at significantly larger scale with broader product portfolio.
• First Citizens BancShares: North Carolina-headquartered regional bank with Virginia and Tennessee presence through acquired CIT franchise. Larger regional player competing for the same commercial and consumer banking relationships that PVB serves.
• Truist Financial Corporation: Major regional bank holding company with extensive branch presence across Virginia, Tennessee, and the Carolinas. Overlaps with PVB's Southwest Virginia and Northeast Tennessee geography but offers broader capabilities as a top-10 US bank.

Market position

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/PowellValleyNationalBank
• LinkedInlinkedin.com/company/powell-valley-national-bank
• Instagraminstagram.com/powellvalleynationalbank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Powell Valley National Bank