More than 100 people attended a meeting hosted by the Meadows of Dan Community Association on Saturday to support Skyline National Bank, which is looking into the feasibility of establishing a branch in Meadows of Dan.
Truist bank recently announced that it is closing its Meadows of Dan branch.
Grayson National Bank bought out the Bank of Floyd and rebranded it as Skyline National Bank in 2016. Skyline is building a branch in Blacksburg presently that will be branch number 26, joining its 10 branches in North Carolina and 16 branches in Virginia.
Blake Edwards, president and CEO of Skyline National Bank, told those attending the community meeting that Meadows of Dan would need $25 million in deposits to make it feasible for them to create a branch. According to most recent data, there are enough deposits in the bank in Meadows of Dan to meet that amount now.
Skyline is interested, but there are other issues to work out, for instance, whether Truist would sell Skyline the building with no restrictions. Mr. Edwards hopes to let the community know whether it will be feasible for Skyline to move forward with plans for a branch within 30 days.
For more information and to be included in the community association, email Trinity Goad at firstname.lastname@example.org.