88 Years Young
In July, 1924, Middleburg Bank opened its doors for the first time. On that hot summer day 88 years ago, Middleburg Bank had about $45,000 in deposits and a little over $100,000 in assets. Today, we have nearly $1 billion in deposits and over $1.2 billion in assets. From our single bank office on West Washington Street in Middleburg, we have grown to be a diversified financial services company, serving individuals, families and business across Virginia and beyond. Over the years, our Bank, our community, and our nation have weathered many challenges and seen many changes. Consider that since 1924, we have:
- Endured 14 economic recessions and/or depressions;
- Engaged in 5 wars and armed conflicts;
- Followed 15 different Presidents (8 Republican/7 Democrat).
In 1924, a gallon of gas cost about 21 cents, the average car cost about $265, a house cost under $8,000 and a worker was paid about $5 for a 10 – 12 hour workday. And at the time, the population of Loudoun County was approximately 20,000 (today it is over 310,000).
Much has changed in banking as well. Middleburg Bank’s principal type of account in 1924 was a passbook savings account and virtually all banking transactions were conducted in a bank branch (and during banker’s hours!) In the 88 years since, we have introduced a wide range of new products and services that meet the ever-changing needs of our clients. Today, you can bank with Middleburg Bank whenever and wherever it’s convenient for you, thanks to online banking and our new mobile apps for iPhones, iPads and Android smart phones.
Despite all of the changes, some things about Middleburg Bank have stayed the same. We are just as committed to helping our clients achieve their financial goals as we were the day we opened our doors. Our focus on providing exceptional, personalized service for every single client is as strong today as it has been over the past 88 years. And we remain steadfast in our determination to give back to our community by supporting local groups and organizations that make this a better place to live and work.
This month, as we do every year in July, we will be celebrating Middleburg Bank’s birthday with Client Appreciation Days. Even though it is our birthday, we want to say “thank you” with a small token of our appreciation for your continued trust in our company. Stop by any of our Financial Service Centers between July 10th and July 14th and let us treat you to ice cream and a free gift (while supplies last).
From all of us at Middleburg Bank, thank you for your business over the past 88 years. With your continued support, we look forward to a bright and successful future together.