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Bank of the James Financial Group, headquartered in Lynchburg, is celebrating its 25th anniversary as a community bank in Virginia.
Bank of the James opened its doors in July 1999. 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.
The bank opened a branch office in Lexington in August 2019 and moved to its current location in downtown Lexington June 1, 2021. Four people staff the Lexington branch, which also offers access to a mortgage lender, a merchant card services representative and an investment adviser.
As its service area continues to grow, Bank of the James currently operates 26 regional offices, with its newest locations in Buchanan and Nellysford.
“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!”
In December 2021, Bank of the James acquired Pettyjohn, Wood, & White Inc., a SEC-registered investment adviser based in Lynchburg. This acquisition positioned the bank to further enhance its capacity to deliver premier financial services.
In June, American Banker ranked Bank of the James Financial Group as No. 56 in the Top 100 banks in the country with assets under $2 billion. A dditionally, this identified the bank as the second-highest ranked bank in this category in the state of Virginia.
