STRASBURG, Va., Oct. 14, 2020 (GLOBE NEWSWIRE) -- First Bank announced today that CEO Scott C. Harvard has been re-elected to the board of directors of the Federal Home Loan Bank of Atlanta (FHLBank Atlanta) for a second consecutive four-year term, beginning January 1, 2021. Harvard previously served as a member of FHLBank Atlanta’s board from 2003 through 2012, serving as chair from 2007 through 2012.
Elizabeth Cottrell, chairman of the board of First Bank stated: “We are so pleased to have Scott represent Virginia financial institutions on the board of FHLBank Atlanta, and we are proud that he has the strong support of financial institutions across the Commonwealth.”
Harvard added, “It has been a privilege to represent Virginia financial institutions on the board of the Atlanta home loan bank, and I am thankful for the opportunity to continue to work with what I consider the finest board and management team in the FHLB system.”
FHLBank Atlanta is one of 11 cooperative banks within the Federal Home Loan Bank System. Formed in 1932 by an act of Congress, the Federal Home Loan Banks have a mission of supporting housing finance and community lending.
With assets in excess of $125 billion, including outstanding advances of over $60 billion to financial institution members as of June 30, 2020, FHLBank Atlanta fulfills its mission by offering liquidity via competitively priced financing, as well as community development grants, and other banking services that help financial institutions and their communities grow and prosper.
Over the last decade, FHLBank Atlanta has provided over $151 million in affordable housing grants in Virginia resulting in over 24,500 housing units developed across the Commonwealth.
First Bank is a community bank serving the top of Virginia, the Shenandoah Valley, south central Virginia, and Richmond. First Bank 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 14 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.
Contact info: Kirstie Svehla, Marketing Manager, ksvehla@fbvirginia.com 540-465-9121
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e9ec6f92-59d3-4269-822c-c0163524222e