STRASBURG, Va., Nov. 27, 2018 (GLOBE NEWSWIRE) — First National Corporation (the “Company” or “First National”) (OTC: FXNC) is pleased to announce that Robert G. Watts, Jr. has joined its wholly-owned banking subsidiary, First Bank (the “Bank”), as Senior Vice President for the Richmond, Virginia market. Bob brings over 31 years of banking experience, most recently as the President and CEO of First Capital Bank in Richmond. He is a graduate of the University of Virginia, where he earned his bachelor’s degree in economics, and a graduate of the Virginia Bankers Association School of Bank Management at the University of Virginia.
As a lifelong resident of Richmond, Virginia, Bob is very active in the community. He is a former Director of the Ronald McDonald House, the former Vice Chairman of the Salvation Army Boys and Girls Club, former Chairman of the Virginia Association of Community Banks and is a current member of the Board of Trustees for St. Joseph’s Villa.
“We are excited to have a banker of Bob Watts’ caliber join our team at First Bank in Richmond. He is a proven committed community leader, as well as a trusted advisor to his customers and clients,” said Scott Harvard, President and Chief Executive Officer of First National. Harvard added, “Bob’s experience and success building First Capital into one of the top banks in Richmond will enhance First Bank’s efforts to continue as a top performing bank in Virginia. At First Bank we believe banking is a people business, which is why we are so pleased to have Bob join our team.”
During Bob’s tenure as President and CEO of First Capital Bank, his bank grew from $30 million in assets to over $650 million and 9 branches prior to being sold in 2015. Bob has joined Andy McLean and his First Bank Richmond team based in the Westhampton Office at 5601 Patterson Avenue. Watts and McLean worked together at First Capital Bank in the early days of their careers.
Andy McLean, Richmond Market President for First Bank, added, “Bob’s desire to join the First Bank team, with his banking expertise and long-term Richmond community knowledge, is a tremendous win for First Bank/Westhampton, as we spread our brand throughout the Richmond market. We are truly fortunate and honored to have my good friend and fellow banker, Bob, as a part of our outstanding team.”
Certain information contained in this discussion may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to the Company’s future operations and are generally identified by phrases such as “the Company expects,” “the Company believes” or words of similar import. Although the Company believes that its expectations with respect to the forward-looking statements are based upon reliable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results, performance or achievements of the Company will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. For details on factors that could affect expectations, see the risk factors and other cautionary language included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, and other filings with the Securities and Exchange Commission.
ABOUT FIRST NATIONAL CORPORATION
First National Corporation (OTC: FXNC) is the parent company and bank holding company of First Bank, a community bank that first opened for business in 1907 in Strasburg, Virginia. The Bank offers loan and deposit products and services through its website, www.fbvirginia.com, its mobile banking platform, a network of ATMs located throughout its market area, a loan production office, a customer service center in a retirement community, and 15 bank branch office locations located throughout the Shenandoah Valley and central regions of Virginia. In addition to providing traditional banking services, the Bank operates a wealth management division under the name First Bank Wealth Management. First Bank also owns First Bank Financial Services, Inc., which invests in entities that provide investment services and title insurance.
Scott C. Harvard
President and CEO
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