April 11, 2018
BB&T closing Main St. branch in Warrenton
BB&T’s office at 21 Main St. has far less business since the bank opened a modern branch on Lee Highway in 2004.
While branches are still an important part of BB&T’s business model, we’re constantly evaluating all of our locations in terms of client-use patterns and convenience within the markets we serve.
— David R. White, BB&T
After operating an Old Town Warrenton bank branch for 16 years, BB&T will shut its Main Street office July 27.
A bank has operated at that location for 108 years, since the founding of the former Peoples National Bank of Warrenton.
“More and more, our clients are choosing to conduct their banking business digitally both here at BB&T and in the financial industry as a whole,” Corporate Communications Vice President David R. White said of the closure.
“While branches are still an important part of BB&T’s business model, we’re constantly evaluating all of our locations in terms of client-use patterns and convenience within the markets we serve.”
Mr. White had no specific information about why the bank decided to close the 21 Main St. branch.
But, the bank undertakes “a very rigorous” review process before it shuts branches, he said.
That process considers a branch’s “viability,” building condition and customer “patterns,” Mr. White explained.
BB&T owns the 28,000-square-foot building and approximately half-acre site at Main and First streets. For tax purposes, the county values the property at $4.2 million.
“It’s premature to say” whether the bank will sell or lease the property, Mr. White said. “We will explore our options.”
No Main Street branch employees will lose their jobs and most will move to the BB&T office at 236 W. Lee Highway, he said. BB&T opened that modern branch in 2004.
While he didn’t know how many the Main Street office employs, most branches “typically” have two to five workers, Mr. White said.
Besides the two Warrenton offices, BB&T has branches in Marshall, Bealeton and Remington.
About three years ago, the Winston Salem, N.C.-based bank limited the Remington branch to drive-through services.
But BB&T has notified customers the Remington branch will close May 18, according to Town Clerk Kim Bowrin.
Mr. White could not confirm that.
BB&T closed its Catlett branch about two years ago.
The Peoples National Bank of Warrenton opened on Main Street in 1910. The bank replaced that structure in 1929 and expanded it 26 years later. A 1987 addition roughly doubled the building’s size.
In 1984, Peoples merged with Winchester-based F&M Bank. Eight years later BB&T acquired F&M.
The bank last year closed 140 branches and expects to shut that many in 2018, Mr. White said.
The company operates 2,000 branches in 15 states and Washington, D.C. It has about 350 branches in Virginia.
BB&T last summer still had about 20 percent of the banking market share in Fauquier. At that time, it had slightly more than $348 million in deposits here, according to the Federal Deposit Insurance Corp.’s annual market share report.
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Vickie · April 12, 2018 at 7:09 pm
What an absolutely wonderful place for the new Fauquier Warrenton Library!!! and parking! and book drops and everything! Yea! Wake up, that's a great reuse of the building!!!!!!!!! I use BB & T and use the branch, if I must go in. It's not as swanky, nor am I enamored by BB & T in general, but there is no need for 2. I feel worse for Catlett and Remington. They had more need. In general, I don't find the company has much care for their customers, and I'd welcome knowing who makes up the 80% in the county. I might be able to be persuaded to move.
BJ · April 11, 2018 at 5:35 pm
Let us know when to pick up our things in our rented safe deposit box before you close OK?! And will we get a refund for rent not used for a whole year? Will they have safe deposit boxes at the Lee Highway location?
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