University of Virginia Library

THE NATIONAL EXCHANGE BANK

The National Exchange Bank of Roanoke was incorporated
May 7th, 1889, with a capital stock of
$100,000. T. T. Fishburne
conceived the plan for
founding the institution
and prominently
identified with him in
the work of organization
were J. B. Fishburn
and J. B. Andrews
of Roanoke,
with J. P. Bell of
Lynchburg, and D.
Armstrong of Frostburg,
Maryland.

T. T. Fishburne
was the first President
of the institution,
being succeeded after
twelve years' service
by J. B. Fishburn,
the first cashier, who
has occupied the
position of president
since 1901. J. B.
Andrews served as one

NATIONAL EXCHANGE BANK
BUILDING (Present Quarters)

of the vice presidents
of the bank, and
Messrs. Bell and Armstrong were members of the
first board of directors.

The bank first had its quarters on West Salem
Avenue, near its juncture with Jefferson Street, afterwards
removing to the Exchange Building, located
on the southeast corner of Salem Avenue and Jefferson
Street, and again to the present National Exchange
Bank Building, at the intersection of Jefferson Street
and Campbell Avenue, one of the most prominent
corners in the city.

These several changes of location were necessitated
by the growing requirements for space, as the business
of the bank continued to increase to an extent that
the quarters occupied in the first two instances were
found entirely inadequate for its needs.

On its organization, the National Exchange Bank
at once sprang into prominence and favor, as the
conduct of its affairs was marked by a carefulness and
convervatism that inspired the confidence of the
public.

The policy of safeguarding the interests of both
depositor and stockholder in the placing of loans,
proved of incalculable benefit, for when the panic of
1893 occurred, so well had the affairs of the bank been
managed, that while deposits fell from over $200,000
to less than $50,000, the bank was able to pay currency
for every check presented, and never resorted to the
use of scrip a