First Virginia Banks (now Truist Financial) Stock Certificate with Thomas Jeffer
$ 10.56
Description
This red stock certificate from First Virginia Banks, Inc., issued in 1992, features a vignette of Thomas Jefferson on the Lawn of the University of Virginia with the Rotunda in the background. The certificate includes cancellation stamps and was incorporated in Virginia. First Virginia Banks, Inc. was a registered bank holding company headquartered in Virginia, overseeing 23 separately-chartered member banks across Virginia, Maryland, and Tennessee. In addition to over 350 branch banking offices, the holding company had subsidiaries in insurance, advertising, and mortgage operations spread across seven states. The institution had a strong presence in the affluent metropolitan corridor from Baltimore to Washington, D.C., and south to Norfolk, an area known for its high average household income and economic resilience. The company’s history dates back to Edwin T. Holland, who became the director and shareholder of Old Dominion Bank in 1944. Holland transformed the bank into a retail, consumer-oriented institution through extended banking hours, promotional incentives, and aggressive advertising campaigns. In 1949, Holland established the Mt. Vernon Insurance Agency to insure car loans, which later acquired controlling interests in other banks and was reorganized as First Virginia Corporation following the passage of the Bank Holding Act in the mid-1950s. By 1960, First Virginia had grown to include four banks with eight branches and $68 million in assets. The company continued to expand through acquisitions in the 1960s, 1970s, and 1980s, adding numerous banks and increasing its assets significantly. In 1986, First Virginia acquired The Commercial Bank in Bel Air, Maryland, and in 1987, it purchased Tri-City Bancorp, Inc. in Tennessee. This steady growth strategy led to the company being acquired by BB&T (now Truist Financial Corporation) in 2003, marking the end of its independent operations. This stock certificate not only signifies ownership in a historically significant banking institution but also serves as a collectible piece reflecting the rich history and expansion of First Virginia Banks, Inc.
