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member of Union Bankshares.
Growth spurt
Founded in 1902 in the Town of Washington, RNB remained a one-location bank for the first 104 years of its existence. But in the last year it has opened its first branch and now is set to acquire five more.
Leake said a key to RNB’s recent growth has been moving the bank’s headquarters to U.S. 211 from Gay Street in Washington. The bank moved into its new building on the highway in September 2003 after more than 100 years in the town.
“Our Rappahannock County growth has been tremendous,” Leake said. “We didn’t have a facility there in Washington that could accommodate our growth.”
Even with its moves into surrounding counties, RNB’s headquarters will remain in Rappahannock, Leake said.
“We are very happy to be growing in Rappahannock County” he said. “It’s the perfect place for a headquarters.”
Leake said the employees from the acquired branches will come with the transaction, which will double the size of RNB’s staff to more than 40 people.
Keeping the former Provident employees means the new RNB branches will be staffed with people who know the local markets and customers there.
90.1%