News & Press Releases
First Sentinel Bank announces an organization-wide increase to its hourly minimum wage rate. The Board of Directors of First Region Banchares and its subsidiary, First Sentinel Bank, has announced its decision to increase its investment in staff development at First Sentinel Bank by raising the hourly minimum wage offered to employees. Effective August 6, 2018, the hourly minimum wage is increasing to $12.50 an hour.
John Thompson, President and CEO of First Sentinel Bank, stated that, “First Sentinel Bank is proud of our corporate culture and of the hard work from our staff day in and day out. This increase allows us to invest more fully in our employees and their continued development and growth with the bank. We are thankful to the Board of Directors for approving this increase and are excited to continue developing our staff and our organization as we move forward.”
Since its original charter in 1978, First Sentinel Bank has grown into one of the leading community banks in the area with seven full service branches in Tazewell, Russell, Bland and Wythe Counties, as well as loan production offices in Princeton, WV and Abingdon, VA. With a strong dedication to providing for the needs of the community, First Sentinel Bank strives to be a bank that offers a full range of financial services for personal and business needs.
Recently, news reports were released regarding an assurance of discontinuance agreement that First Sentinel Bank entered into with the West Virginia Attorney General's office in 2017. We disagree with some of the details outlined in these reports regarding the assurance agreement and would like to clarify a few material points.
As a result of a complaint by an individual in West Virginia, First Sentinel Bank entered into an assurance of discontinuance in December of 2017. While we acknowledged no wrongdoing on our part, in the interest of integrity and the dedication of serving our community with excellence, we entered into the agreement, which had a positive impact on 324 of our former West Virginia customers. The terms of the agreement are part of the public record and were approved and accepted in December 2017.
We appreciate the work of the West Virginia Attorney General's office and their assistance with this matter. We consider this chapter closed and behind us, as all terms of the agreement have been honored and it has been officially closed for several months.
First Sentinel Bank prides itself on serving our customers with integrity and dedication. We work diligently to comply with all state and federal regulations and have a strong compliance program to ensure that we follow all laws regarding our practices. We are always willing to work with state and federal agencies to make sure all customer rights are honored and protected.
We look forward to a strong future with many exciting things on the horizon. We are thankful for our communities and local agencies and their support of the services we provide to our customers.
Mr. Crumpton will be responsible for assisting with the growth and development of the Abingdon Loan Production Office. He brings 13 years of banking experience to this role.
First Sentinel Bank announces one-time Tax Cut bonuses for its employees. Changes in the Tax Cuts and Jobs Act implemented at the beginning of 2018 will benefit many organizations, including First Sentinel Bank, in the form of lower corporate tax rates. The Board of Directors of First Region Banchares and its subsidiary, First Sentinel Bank, has announced its decision to share the estimated 2018 corporate tax savings with the employees of First Sentinel Bank. All employees of the bank will receive a one-time cash bonus of $750 each in recognition of their continued hard work, dedication, and contributions to the ongoing success of the bank.
John Thompson, President and CEO of First Sentinel Bank, stated that, “First Sentinel Bank believes in sharing its success with the people who drive that success. To that end, we are happy to have the opportunity to share our 2018 corporate tax savings with our employees as a one-time bonus. We are proud of the overall compensation package we provide to our employees, and this Tax Cut Bonus is an exciting supplement to that package.”
“The Board of Directors and Executive Team appreciate the hard work our employees put in day in and day out, and we are pleased to recognize their efforts with this bonus opportunity,” said George W. McCall III, Executive Chairman of First Sentinel Bank. “The tax savings we will see this year as a result of the Tax Cuts and Jobs Act are allowing us to invest more robustly in our employees and our operations, and we are excited about the positive impact this will have on the bank.”
The employees of First Sentinel Bank will receive the one-time bonus in March 2018. Mr. Thompson commented, “First Sentinel Bank could not be a success without the contributions of our employees. We appreciate each and every employee and we look forward to a successful 2018 and beyond.”
The Board of Directors of First Region Bancshares and its subsidiary First Sentinel Bank is proud to announce the addition of Mr. John J. Breedlove to the Board of Directors.
Mr. Breedlove is the President of Heintzmann Corporation in Richlands, Virginia. He is a 1974 graduate of Richlands High School and completed his B.S. in Mining Engineering at Virginia Tech in 1979. While pursuing his degree, he worked summers and most holidays at Jewell Smokeless Coal Company. After earning his degree, Mr. Breedlove continued his career there serving as Foreman and General Inside Foreman, and later as Jewell’s Longwall Coordinator. He was promoted to Project Engineer in 1982. Mr. Breedlove started working at the Heintzmann Corporation as Sales Manager for longwall roof supports in 1984. In 1991, he was promoted to President of the company.
Mr. Breedlove is the 2013 recipient of the Virginia Tech Department of Mining and Minerals Engineering Distinguished Alumnus Award. He is involved in many professional organizations including the West Virginia Mine Institute, King Coal Club, Eastern Coal Council, and the Richlands Chamber of Commerce. He is a member of the Society for Mining, Metallurgy and Exploration (SME), serving as a board member for the Central Appalachian Section. He is also a board member for the Virginia Mine Institute and serves on the Advisory Board of Virginia Tech’s Mining Department.
Mr. Breedlove resides in Richlands with his wife, Diane. He has two children, Michael and Sarah.
“We are very excited that Mr. Breedlove has joined the board at First Sentinel Bank,” said John Thompson, President and CEO of First Sentinel Bank. “He provides a new perspective and we look forward to learning from his experiences and expertise. He will be a great asset to First Sentinel Bank in the coming years.”
“We are pleased to welcome Mr. Breedlove as a new board member,” said George McCall, Executive Chairman of First Sentinel Bank. “Mr. Breedlove brings a wealth of knowledge and experience in many fields, and will be a tremendous asset to our board as we continue to develop new markets.“
First Sentinel Bank has officially chartered its very own Toastmasters Club!
Toastmasters International is a non-profit educational organization that teaches public speaking and leadership skills through a worldwide network of clubs. As part of our club, managers and employees from various departments of the bank meet bi-weekly to participate as part of FSB’s Leadership & Development Program. The club’s mission is to provide a supportive and positive learning experience in which members are empowered to develop communication and leadership skills, resulting in greater self-confidence and personal growth.
During the first meeting, the following individuals were appointed as club officers:
President: Hilary Paisley
VP of Education: Vicki Mullins
VP of Membership: Courtney Murray
VP of Public Relations: Jera Kiser
Secretary: Serena McClanahan
Treasurer: Serena McClanahan
Sergeant-At-Arms: Fred Farley, Jr.