
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SUNDAY, May 14, 1995                   TAG: 9505120009
SECTION: BUSINESS                    PAGE: F-4   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

WHY THEY INVEST IN VALLEY BANK

People who have invested money in Valley Bank - buying stock at $10 a share - say they compare the enterprise with the Renew Roanoke drive to restore Hotel Roanoke. Here's how some of them answered when asked why they risked their money to open a community bank:

William D. Elliott, a Valley Bank organizer and owner of 45,000 shares:

"I think there's a market in the Roanoke Valley for a locally owned community bank. I think it was a good investment for me - not immediately, but in 10 to 15 years, it will be good.

"There's a perception in the valley that everyone's [banking] needs were not being met. Larger banks do not provide adequate services to smaller businesses in the Roanoke Valley. Service is the issue. It's important to know your customers."

W. Jackson Burrows, an organizer and owner of 38,000 shares:

"People like personal contact and quick decisions. I have confidence in Guy Byrd and Wayne Lewis, and I was impressed by the organizers.

"I believe in trying to keep my money in a Roanoke business. I think many Roanokers feel that way and will support it."

Lawrence H. Hamlar, an organizer and owner of 12,600 shares:

"It's important to have a local bank in Roanoke to serve the needs of their friends who are their customers. It was a risk worth taking.

"I also think it will be successful. Some banks are so large they can't get an understanding of the needs of their local customers. A local bank will help to finance their ventures."

Abney S. Boxley III, an organizer and owner of 30,000 shares:

"I think there's a big need in the market for a community bank right here in Roanoke. The more we looked at it - if we could get the capital and management - the need was there. I believe we got the capital. I know we've got the management."

Anna L. Lawson, an organizer and owner of 32,000 shares:

"First of all, this is a good investment. It's low risk if you've got good management. It seemed to be a really good investment. Why put your money in Omaha or New York or elsewhere? It's pretty important to have institutions of our own in the valley.

"I listened to what David Goode [president of Norfolk Southern Corp. and a former Roanoke Valley resident] said at the chamber of commerce dinner. He said not to look to the railroad for everything; it's not going to be Big Daddy anymore. If that's the case, what do we do now? How do we have institutions in the valley? That was in the fall of 1993 when the bank was being organized.

"It's interesting to be involved in starting a business with personnel policies oriented toward making employees partners, such as hooking up with the Y for day care. If we can be a model, be a leader, that would be wonderful."

Maury L. Strauss, an organizer and owner of 20,100 shares:

"Financially, I think it will be of benefit to me personally and to all stockholders.

"I think Roanoke deserved a community bank. It's one of the few cities on the East Coast that no longer had a local bank. Roanoke deserved one, and I wanted to be a part of it. But I wouldn't have gone into it unless I thought it would be successful."

Richard F. Pence, a stockholder:

"I was enthusiastic about having a local bank in the Roanoke Valley. I think they have a sound management team and will do very well."

Barbara M. Dickinson, a stockholder:

"I believe very firmly in the Roanoke Valley. I wanted to put a small part of myself into it to show that good belief and that faith."

by CNB