Since 1971, Benchmark Community Bank has grown to 12 locations spread across 6 Southside Virginia counties.  The headquarters remains in Kenbridge, Virginia.  Benchmark Community Bank is locally owned and operated bank.  Benchmark Community Bank is the largest bank focused exclusively on serving Southside Virginia.  It is a full service bank that is integrally involved with the communities it serves.

Benchmark Community Bank is chartered as a Federal Reserve Member.  Therefore the primary regulator is the Federal Reserve Board (FRB).  The bank has been FDIC insured since September 8, 1971.  The bank’s assets stand at approximately $373,447,000.  For 2008, the bank had net income of $3,956,000.  The bank president has a message on the web site regarding the banks strength as he states,  “As the customer of a community bank like Benchmark, you can take comfort in knowing that we did not follow the big banks in making loans that were high risk and/or depended on the continuing rise of home prices.  We were conservative and therefore do not have the default rate that the bigger banks are experiencing”.

Supporting these comments, Benchmark Community Bank has the following performance ratios:  noncurrent loans to loans stood at 0.45%, core capital or the leverage ratio was 8.45%, tier 1 risk-based capital ratio was 11.06% and total risk-based capital ratio was 11.97%.

To help grow your assets, reach your goals and build financial security, Benchmark offers many consumer products and services.  Some of these bank producst and services include: traditional savings accounts, certificates of deposit, money market accounts, Individual Retirement Accounts, both Traditional and Roth and a variety of checking accounts.

Bank CDs currently being offered:

32 – 181 day CD rate1.25% APY
182 – 364 day CD rate 1.65% APY
1 year CD rate 2.10% APY
2 year CD rate 2.35% APY
3 year CD rate 2.60% APY
4 year CD rate 2.85% APY
5 year CD rate 3.10% APY

Benchmark Community Bank also offers some special rate CDs.

11 month CD rate is 2.50% APY
36 month CD rate is 3.15% APY

The bank standard CDs have a minimum deposit amount of $500.00 and the special CDs have a minimum deposit amount of $10,000.  Bank CD rates are subject to change and additional conditions may apply to open these accounts.  For current CD rates and CD account information, contact a bank representative at 434-676-8444.  Benchmark Community Bank also posts bank rates including CD rates, savings rates and money market account rates on their website which is located at www.bcbonline.com.

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