BCT – Community Bank opens loan production office in Fredericksburg, Virginia
CHARLES TOWN, W.Va., May 20, 2021 / PRNewswire / – (OTC: PTBS) – BCT-Bank of Charles Town, also known as The Community’s Bank, recently announced the opening of a Loan Production Office (LPO) at 1125 Jefferson Davis Highway, Suite 400, Fredericksburg, Virginia, 22401. This office is located on the same premises as the University of Mary Washington Center for Economic Development and the Rappahannock Economic Development Corporation (REDCO). The BCT office will be managed by Teri Tosti, Senior Vice President and Commercial Lender, providing commercial lending services through both SBA programs and traditional business options.
“Opening of our last LPO in Fredericksburg is an excellent opportunity and fits perfectly into our strategic initiatives, ”said Alice P. Frazier, President and CEO. “Having Teri located so close to the UMW Economic Development Center and REDCO lends itself to a unique synergy that will benefit local businesses when they need it most.
Ms. Tosti will oversee the operations of the office. She recently joined BCT with a team of SBAs and commercial lenders including Michelle douglas, Senior Vice President, SBA Program Manager, and Kate ryan, Assistant Vice-President and Director of Commercial Relations. Douglas and Ryan will work primarily in other BCT offices, but will also support the Fredericksburg LPO. Prior to joining BCT, Ms. Tosti worked in a similar capacity with Sonabank in Fredericksburg. She has over 23 years of banking experience, primarily in traditional commercial lending and SBA.
In addition to providing businesses with financing options, Ms. Tosti offers educational workshops on business capital needs and sound financing principles. These workshops are offered in partnership with the UMW Economic Development Center and EDC as well as other local business support organizations like Boots2Business for retiring veterans. A useful aspect of the workshop is to explain the federal SBA 7 (a) and 504 programs and to provide personal assistance during the process of applying for and funding these programs.
The Fredericksburg LPO is open Monday through Friday, 9:00 a.m. to 5:00 p.m.
About the company
Founded in 1871 and celebrating their 150e year of service, BCT – Bank of Charles Town, also known as The Community’s Bank, is a wholly-owned subsidiary of Potomac Bancshares, Inc. (OTC: PTBS). With about $ 661 million assets from March 31, 2020, the company operates through its main office, eight additional branches and two loan production offices. BCT offices are located at Jefferson and Berkeley Counties (WV), Washington County (MD) and Loudoun and Stafford Counties (VA). The Bank offers a variety of banking products and services, including free access to over 55,000 ATMs through the Allpoint® network, as well as online and mobile banking services for individuals, businesses and local governments. The Bank also offers commercial lines and term loans, residential and commercial construction, commercial real estate loans and agricultural loans. The Residential Loans Division offers secondary and portfolio mortgages, short-term construction one-off loans to permanent loans, as well as home equity loans and lines of credit. For over 60 years, BCT Wealth Advisors has provided financial management, investment, trust and estate services to its clients. In 2019 and 2020, the Bank was named “Best Bank to Work For” by American banker. In 2018, Forbes named BCT “Best In State Bank” for Maryland.
The Company’s shares are listed on the OTC Pink Sheet market under the symbol “PTBS”. For more information on Potomac Bancshares, Inc. and the Bank, please visit our website at www.mybct.bank.
SOURCE BCT – The Community Bank