April 18, 2011
FOR MORE INFORMATION CONTACT DAVID GRIST, 540-463-2222 or
BETH MOORE, 804-763-9031
FOR IMMEDIATE RELEASE
Lexington, Virginia ---- CornerStone Bank opened the doors of its new landmark headquarters building on Monday, April 11, 2011. The opening came after a weekend spent relocating all aspects of the bank’s operations from its banking cottage at 457 East Nelson Street, where it has conducted business since opening in February of 2009. The new headquarters at 54 South Main Street, at the corner of Main and Nelson Streets in downtown Lexington, Virginia is located in Lot # 1 of the historic district. The building is one of only a few newly constructed structures to be built in downtown Lexington in the last 100 years.
After settling into the new location on Monday and Tuesday, CornerStone Bank held a small Ribbon Cutting Ceremony on Wednesday morning, April 13, 2011. Those participating were CorrnerStone’s Board of Director members, bank staff and those directly involved in the building’s design and construction. The Ribbon Cutting kicked off a three-day Open House that was attended by hundreds who came to see the new building.
“We are so grateful to the Lexington community for their support and patience during the construction phase of our new building,” said T. David Grist, Chief Executive Officer and President. “It was a pleasure to be able to tour individuals throughout the headquarters and showcase the beautiful interior to those who have watched it emerge over the past year,” Grist continued.
“This is more than just a headquarters for CornerStone Bank,” added Grist. “It is a tribute to those who have provided community banking in the past and a symbol of a return to that kind of caring and dedicated service to customers. It is also a building that we hope will represent the exciting potential for this area’s financial, economic and civic prosperity.”
Designed by Baskervill, the new building’s exterior architecture blends the historical character of the downtown area’s corridor with contemporary components. Wood, glass and stone elements are used throughout the three floors of the building and the lobby features a striking circular soffit. Martha Lou Derrick coordinated the interior furnishings and fixtures.
Construction of the building was managed by Coleman-Adams. Housed within the 9,384 square feet are the retail, lending and operational areas for the current staff of 18 employees, with space enough to accommodate up to 40 employees in the future. There are two drive-thru areas and an ATM machine is located at the front of the building on Main Street. Tom Higgins served as CornerStone Bank’s Project Manager for the building.
The only locally owned and managed bank in the market, CornerStone initially made history as the first new bank in Virginia to open in 2009, at the height of the nation’s economic crisis. The opening came after the Board of Directors raised over $9,000,000 in start-up capital, with approximately 180 individual stock purchases.
Since opening, CornerStone Bank has created a solid position within the
Lexington/Buena Vista/Rockbridge County financial landscape, with total assets of $63,470,000 at year-end 2010, and a market share of over 7%. In addition to opening the new headquarters building, CornerStone recently announced that, effective May 1, 2011, it will lease the banking office at the College Square Shopping Center in Lexington, and open an ATM at the location.
“Since we have opened, this community has embraced the CornerStone Cares philosophy,” continued Grist. “Individuals and businesses have demonstrated their support by becoming shareholders, customers and advocates for a new kind of banking. We are grateful to be able to share our new headquarters building with those who have joined with us in this journey, and those to whom we can provide banking services to in the future.”
Board members for CornerStone Bank are: Jay Melvin, Chairman, Thomas Beebe, Ugo Benincasa, Bradley Claeys, Robert Dahl, J. Steven Grist, David Grist, David J. Hansen, Keith W. Holland, Rick Mast, Eric Spencer, Danny Thornton, and Wesley Woods. For more information, visit www.cornerstonebankva.com.
# # # |
