BCT-The Community's Bank Opens Loan Production Office in Fredericksburg, Virginia

May 20, 2021
Charles Town, WV, May 20, 2021 /PRNewswire/ (OTC:PTBS) – BCT-Bank of Charles Town, also known as The Community’s Bank, recently announced the opening of a Loan Production Office (LPO) at 1125 Jefferson Davis Highway, Suite 400, Fredericksburg, Virginia, 22401. This office is located in the same facility as the University of Mary Washington Center for Economic Development as well as the Rappahannock Economic Development Corporation (REDCO).

BCT’s office will be managed by Teri Tosti, Senior Vice President and Commercial Lender, offering commercial lending services both through SBA programs as well as traditional commercial options.

“Opening our newest LPO in Fredericksburg is a great opportunity and fits perfectly with our strategic initiatives,” stated Alice P. Frazier, President and CEO.  “Having Teri situated in such close proximity to UMW’s Center for Economic Development and REDCO lends itself to a unique synergy that will benefit local businesses when they need it most.”

Ms. Tosti will oversee the office’s operations.  She recently joined BCT along with a team of SBA and commercial lenders including Michelle Douglas, Senior Vice President, SBA Program Manager, and Kate Ryan, Assistant Vice President and Commercial Relationship Manager.  Douglas and Ryan will be working mostly through other BCT offices but will also support the Fredericksburg LPO.  Prior to joining BCT, Ms. Tosti worked in a similar capacity with Sonabank in Fredericksburg.  She has over 23 years of banking experience, mostly in traditional and SBA commercial lending. 

In addition to providing businesses with financing options, Ms. Tosti offers educational workshops about business capital requirements and sound financing principles.  These workshops are offered through a partnership with UMW’s Center for Economic Development and the EDC as well as other local business support organizations like Boots2Business for retiring veterans.  One helpful aspect of the workshop is explaining SBA 7(a) and 504 federal programs and providing personal assistance during the application and funding process of those programs.

The Fredericksburg LPO is open Monday through Friday, 9:00 a.m. to 5:00 p.m.  

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About the Company

Founded in 1871, BCT - Bank of Charles Town, also known as The Community's Bank, is a wholly owned subsidiary of Potomac Bancshares, Inc. (OTC:PTBS). With approximately $831 million in assets as of December 31, 2023, the Company conducts operations through its main office, an additional eight branch offices, and two loan production offices.  BCT’s offices are located in Jefferson and Berkeley Counties (WV), Washington County (MD), and Loudoun and Stafford Counties (VA). The Bank provides various banking products and services including free access to over 55,000 ATMs through the Allpoint® network plus an affiliation with Sheetz convenience stores.  The Bank provides convenient online and mobile banking for individuals, businesses, and local governments. The Bank also offers commercial lines and term loans, residential and commercial construction loans, commercial real estate loans, agricultural loans, and government contractor loans.  The Bank is also a Small Business Administration (SBA) Preferred Lender.  The Residential Lending division offers secondary market and portfolio mortgage loans, one-time close construction to perm loans, as well as home equity loans and lines of credit.  For over 70 years, BCT Wealth Advisors has provided trust services, growing into a premier financial management, investments, and estate services provider.  In 2023, American Banker selected BCT as a “Top 200 Community Bank,” an annual listing of the best performing banks in the United States with assets under $2 billion.  BCT was voted a “Best of the Best” winner in the 2023 Journal-News Readers’ Choice Awards in four  categories:  Bank, Mortgage Company, Loan Services, and Financial Planning.  In 2023, 2021, 2020, and 2019 the Bank was named a “Best Bank To Work For” by American Banker.

The Company's shares are quoted on the OTC Pink Sheet marketplace under the symbol "PTBS." For more information about Potomac Bancshares, Inc., and the Bank, please visit our website at www.mybct.bank.