REGIONAL VIEW southern virginia


Investor brings new life to historic Danville bank by Joan Tupponce


First State Bank in Danville he immediately wanted to become involved in the project.


W Casey Crawford, a co-


founder of Fort Mill, S.C.- based Movement Mortgage, made a $10 million personal investment in the bank in June, making him the majority stockholder. “This is a startup


with history, and the histo ry of the bank appealed to Casey,” says Smith, who is now president and CEO of the bank under its new name, Movement Bank. Smith formerly was the founding president of a community bank in North Carolina.


The bank was founded in


1919 as Savings Bank of Dan- ville by African-Americans wanting to provide financial services to people denied credit by mainstream banks.


FOR THE RECORD


Danville and its emerging craft beer market were featured in the August issue of BeerAdvocate magazine. The article highlights communities such as Danville that are using the popularity of craft beer to reinvent themselves. The River District’s newly opened Ballad Brewing and 2 Witches Winery and Brewing Co. are featured in the article, as well as craft-beer retailer Vintages by the Dan on Main Street. A third brewery, Preservation Ale and Smokehouse, is scheduled to open near Ballad Brewing next year. (Danville Register & Bee)


Mecklenburg County will be the jumping-off point for a new pro- gram being introduced in South- ern Virginia, CodeVA. Starting with the elementary schools,


Photo by Steven Mantilla


hen Tom Smith heard about plans to recapitalize


Tom Smith is the president and CEO of Movement Bank in Danville, formerly known as First State Bank.


2008, Movement Mortgage has grown to more than 650 locations in 47 states with 4,000 employees. The com- pany ranked No. 1,295 in this year’s listing of the nation’s fastest-growing companies by Inc. magazine. Movement Mortgage had revenue of $579.9 million last year. Its three-year revenue growth rate was 316 percent. As part of its relaunch,


In recent years, however, the bank has struggled. In 2011 the Federal Deposit Insur- ance Corp. and the Virginia Bureau of Financial Institu- tions issued a consent order in an attempt to improve its financial performance. The bank’s condition “got more critical in 2016 and 2017,” Smith says. Since Crawford’s invest-


ment, the bank’s assets have


teachers will learn how to teach computer science and cod- ing to the students. On Aug. 16, U.S. Sen. Mark Warner joined Chris Dovi, the executive direc- tor of CodeVA, and Tim Pfohl of the Virginia Tobacco Commission to announce a $361,625 grant to train teachers in computer sci- ence and coding to serve in rural Southside and Southwest Vir- ginia public schools. (Mecklen- burg Sun)


Oran Safety Glass will expand its manufacturing business in Greensville County, creating 55 jobs and retaining 75 existing positions. The company makes specialty glass for buses, military vehicles and trains. The company will spend $4.45 million in expanding its Greensville facility. OSG, an Israel-based glass man- ufacturer, develops a wide range


grown from $28 million to $39.5 million. A native of Falls Church


and a graduate of the Uni- versity of Virginia, Crawford played in the NFL for three seasons. His stint included winning a Super Bowl ring as a member of the 2002 Tampa Bay Buccaneers. He previ- ously played for the Carolina Panthers from 2000 to 2001. Since its founding in


of products, including armored safety glass, such as bullet- resistant windows. Gov. Terry McAuliffe approved a $150,000 grant from the Commonwealth’s Opportunity Fund. The Virginia Tobacco Region Revitalization Commission approved $235,000 in Tobacco Region Opportunity Funds. (VirginiaBusiness.com)


Two companies announced plans in early September that are expected to create a total of 50 jobs in the Danville-Pittsylvania County area. Unison Ltd., a Brit- ish tube-bending machine com- pany, will invest $5.2 million and create 35 jobs in establishing its first U.S. manufacturing operation in the Cane Creek Centre Indus- trial Park, jointly owned by the city and the county. Meanwhile, Intertape Polymer Group, a packaging products and systems


www.VirginiaBusiness.com


Movement Bank is enhanc- ing its existing products. In addition to banking services, it provides mortgages as well as commercial and consumer loans. “We are a full-service bank,” Smith says. The bank’s plans include opening loan production offices in Richmond, Virginia Beach and Roanoke over a period of time. Smith hopes that customers feel the new change to Movement Bank “was seamless,” he says. “We still have the same hours, the same people and the same service.”


company, will invest $7 million and add 15 jobs in expanding its manufacturing and distribution capacity at its Pittsylvania facility. (VirginiaBusiness.com)


PEOPLE


Tammy K. Brown has joined Martinsville-based Carter Bank & Trust as a vice president and commercial relationship man- ager. She will be based at the Bank’s Graves Mill Road office in Lynchburg. (News release)


Robert Mills Jr. of Briar View Farm in Pittsylvania County has been named the 2017 Virginia Farmer of the Year. Mills is one of 10 finalists for the Swisher Sweets/Sunbelt Expo award that will be announced in October at the Sunbelt Expo farm show in Moultrie, Ga. (VirginiaBusiness.com)


Connie Nyholm, the owner and CEO of Virginia International Race- way in Alton, has been appointed to a three-year term


on the Institute for Advanced Learning and Re search board of trustees. Nyholm also serves on the board of the Virginia Chamber of Commerce and the Roadracing Industry Council. (VirginiaBusi- ness.com)


Diana Schwartz is the new exec- utive director of Danville’s River District Association. She was director of business retention for the Ocala/Marion Chamber and Economic Partnership in Florida. She also served as director of the Ocala Main Street Program. (Danville Register & Bee)


VIRGINIA BUSINESS 11


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