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Bank Donates
Books
John R. Conry Jr., Chief Executive Officer of Rappahannock Na-' tional Bank, said the bank had, recently placed copies of a newly' written history book entitled Banking in Virginia in the Rappahannock County Public and Rappahannock County High School libraries.
According to Mr. Conry, banking in the Commonwealth traces its roots back at least 200 years. “The state legislature chartered the first bank in Virginia on Nov. 23, 1792, and it was located in Alexandria. The interesting part is that one of its stockholders was George Washington." he said.
Mr. Conry explained that other banks followed, but all were closed during the Civil War. “Many banks were quick to reopen after the war,” he said, “because bank owners and officers and frequently hidden the bank's assets before the bank closed.”
Today, there are 108 banks in Virginia with total assets of more than $<> billion. Rappahannock National Bank was founded in 1902 by six local residents and remains independent and locally owned to this day.
"We hope many people will look through Banking in Virginia and even check it out of the library,” Mr. Conry said.
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