(T-G Photo by John I. Carney) [Click to enlarge]

First Community Bank of Bedford County celebrates its 20th birthday this month, as employees and customers look back at its growth and development over the past two decades.

The bank was chartered April 1, 1988, and opened for business at its Elm Street location on April 28, so bank officials decided to celebrate the anniversary during the entire month of April, according to CEO Donna Stone.

Other key dates in the early history include a letter of intent to organize in November 1987, the sale of stock starting on Jan. 11, 1988, and an organizational meeting on March 22, 1998, at Duck River Electric Membership Corp.

The April anniversary is bittersweet in some ways, coming just weeks after the death of the bank's founder, Sydney "Bud" McGrew. McGrew is memorialized in a display in the lobby of the main office on Elm Street.

"He's still here," said Stone.

Prior to McGrew's death, six of the nine original full-time employees were still associated with the bank.

The bank started in 1988 with a single, 4,000-square-foot office, 10 employees -- one of them part-time -- and $2.5 million in capital.

Today, the main office is 25,000 square feet and there are three other branches (including Moore County Bank), with a fourth under construction next to Airport Industrial Park. The bank has 74 full-time and part-time employees, over $30 million in capital, and over $250 million in assets.

It also has a subsidiary, First Community Mortgage.

According to the Federal Deposit Insurance Corp., it is the market share leader in Bedford County, and Stone said she plans to hold onto that lead going forward.

The banking industry has changed dramatically over the past two decades. The bank now has 12 automatic teller machines. Customers are more likely to use check cards, to manage their accounts online and to have their paycheck or other income direct-deposited. That means some customers don't need to actually visit the bank as often. But FCB still strives for a customer-friendly atmosphere.

Stone said the benefit of a locally-owned bank is in relationships and in quick decisions on matters like loan applications. She said FCB plans to remain locally-based and independent.

In celebration of the anniversary, the bank is giving away $20 bills for 20 business days, from now through April 28. It will also have a customer appreciation day on April 25, from 11 a.m. until 4 p.m.

The bank can be reached at 684-5800 or online at www.firstcommunitybanker.com.