Movement Bank, Virginia's Last Black-Owned Bank is Leaving Downtown Danville

In January, Movement Bank, a financial institution based in Danville that was founded in 1919 by nearly two dozen Black community leaders, will be leaving its downtown location.

The bank is moving its main office to 1296 Piney Forest Road from 201 N. Union St. The new site is set to open on January 22.

Photo byDanville Register & Bee

Michael Whitehead, president of Movement Bank, stated in a news release that “This strategic relocation allows us to optimize our operations, embrace new opportunities and continue our mission of positively impacting the lives of the people we serve. We are excited about the possibilities that lie ahead and remain dedicated to the purpose that has driven Movement Bank for over a century.”

Originally named Savings Bank of Danville, it subsequently changed its name to First State Bank, which was the last bank in Virginia owned by black people.

The bank was established with the intention of offering financial services to people who would not be accepted by other banks, such as members of the African American community or people with low credit scores.

After Casey Crawford acquired a majority stake in 2017, the bank changed its name to Movement Bank.

When the bank celebrated its 100th anniversary in 2019, Crawford noted, “The fact that a bank has survived for a century with that vision … is an honor and a testament to the weight of that vision."

According to Movement Bank's website, First State Bank “powered Danville’s Black economy, becoming a launchpad for entrepreneurs needing startup capital for their businesses." The website includes an extensive portion devoted to the bank's early history and development over time.

According to the website, in 1963, “it played a pivotal role in the civil rights movement when it paid the bonds for nearly two dozen demonstrators jailed for protesting segregation."

Branch manager Jackie Barksdale stated, “Having been an integral part of the bank’s legacy over three decades, I view this relocation as a pivotal moment in our journey. While bidding farewell to downtown Danville brings a mix of reminiscence and anticipation, I am confident that this strategic move will benefit the bank and position us to continue our legacy of community, service and love.”

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