|Middleburg Bank is turning 90 years old this July. - File Photo|
Pop the corks and pour the champagne, Middleburg bank will be 90 years old this July.
Started in 1924, just before the stock market crash of 1929, the bank has gone through major regulatory changes and laws, some of which came from the Crash of 1929.
Middleburg Bank was started by Daniel C. Sands, a Wall Street financier who had a local farm in Middleburg and Charlotte Noland, who was also founder and headmistress of Foxcroft School.
In a prepared statement from Middleburg Bank, the origins are described this way: Middleburg National Bank, as it was originally called, was created for convenience, allowing residents of Middleburg to conduct their banking business locally without having to travel to Leesburg or Warrenton.
“Our founding philosophy of keeping a high touch connection with the community and establishing trust with our clients is still one of our greatest strengths,” said President and CEO Gary R. Shook. “We survived the Great Depression just a few years after opening our doors."
Today, the bank is one of the top 20 Washington D.C. metro banks based on 2013 metro-area deposits.
Middleburg trades on the NASDAQ exchange under the ticker symbol MBRG.
According to the Washington Business Journal Book of Lists, it is one of the top five publicly traded companies in Loudoun based on revenue from 2012.
To kick off its 90th anniversary the bank will be having Client Appreciation Week from July 8-12.
During Client Appreciation Week each financial service center will be handing out ice cream and gifts.
Middleburg has financial service centers in Ashburn, Gainesville, Leesburg, Marshall, Middleburg, Purcellville, Reston, Richmond, Warrenton and Williamsburg, managing more than $1.2 billion in assets.
The Middleburg Investment Group and Middleburg Trust company manage another $1.6 billion in assets.