The boards of directors of MainStreet BankShares, Inc. in Martinsville, Virginia and Franklin Community Bank, N.A. (“Franklin Community Bank”), in Rocky Mount, Virginia are saddened to announce the tragic death of our President and CEO, Larry A. Heaton.  Our prayers and thoughts go out to his wife and sons and his entire family.

             Larry was founding President, CEO and Director of Franklin Community Bank which opened in 2002 and became the President and CEO of MainStreet BankShares, Inc. in 2006.  Prior to that, he was Senior Vice President/Regional Retail Banking Manager with BB&T from July 1999 through April 2000.  He served as President and CEO and Director of the Bank of Ferrum from June 1991 to July 1999.  Larry served as Senior Commercial Loan Officer at Piedmont Trust Bank (affiliate bank of Bank of Ferrum) from 1983 to 1991, and prior to that, in various capacities with Piedmont Trust Bank.  Mr. Heaton has served as a director of the Franklin County YMCA and the Blue Ridge Foundation.  He has been a Board member of Franklin Carillion Memorial Hospital, a Board member of the Virginia Bankers Association, and a former Board member of the Virginia Association of Community Banks and has served on the Franklin County Economic Development Advisory Committee.   He was also a member of the Rocky Mount Rotary Club.  Larry’s contributions to the communities where he lived, worked and served will be deeply missed.           

             At a joint meeting of the boards of directors on Monday, December 10, 2012, the boards named Brenda H. Smith as Acting President and CEO.  Brenda has served as chief financial officer of the Company for thirteen years and has over twenty years of banking experience.  In addition, Joel R. Shepherd was elected as Chairman of the Board of Franklin Community Bank, N.A.  Joel is a founding director of Franklin Community Bank, N.A. and serves as Chairman of the Board of MainStreet BankShares, Inc.  A search committee has been formed to seek candidates for a permanent President and CEO.

             While the boards of directors are saddened by the loss of a valued friend and colleague, we are committed to our shareholders, employees and the communities we serve for the continued growth and soundness of the Company. 

Contact:  MainStreet BankShares, Inc. (276) 632-8054

                  Franklin Community Bank, N.A.  (540) 489-3413

On June 10, 2012 we will enhance the ZashPay^® personal payments service. We are combining the best features of ZashPay with the Popmoney^® person-to-person payment service to bring you even more features than you have today.

To help you easily upgrade to the service, which will be called Popmoney, your existing ZashPay profile will be upgraded automatically. Popmoney, the industry leading person-to-person payment service, will feature an even larger national payments network and be even easier to use than your current service. You’ll also be able to enjoy new features such as eGreetings, which make sending money to friends and family fun.

In addition, you will be able to import contacts from popular email services, access your profile information from a centralized “To Do List,” set up future-dated and recurring payments, add multiple email addresses for a contact, and more.

What you should know about the Upgrade

1.     What is Popmoney?

Use Popmoney to pay anyone you know, or owe – it’s the easy way to send and receive money directly from your Franklin Community Bank, N.A. account. Pay your rent or send money to your kids away at college – it’s safe and secure and all you need is an email address or mobile phone number.

2.     What’s the most important thing I should know about the new Popmoney?

The upgraded Popmoney will be even easier for you AND your friends and family to use. You’ll enjoy a better, more powerful user experience, as will your friends and family who use the upgraded popmoney.com. Most exciting of all, your person-to-person payment network just got significantly bigger – now the combined ZashPay^® and Popmoney^® personal-payment network includes 1,400 U.S. financial institutions. It’s easier for you and easier for your friends and family to send and receive money safely and securely in just a few simple steps.

3.     When will the upgrade happen?

On June 10, 2012 Franklin Community Bank, N.A. will upgrade its person-to-person payment service. This upgrade will combine the best features of ZashPay and Popmoney.

4.     What do I have to do?

Nothing! As a current ZashPay user, you will be automatically upgraded. You may continue to use the service with no interruptions. After the upgrade, you will access Popmoney within your online bill payment center as you access ZashPay today. However, the tab name will change from Pay People to Popmoney.

5.     How will I get to the upgraded service?

Your existing ZashPay profile will be automatically upgraded. You will access Popmoney where you access ZashPay today, through online bill pay here at Franklin Community Bank, N.A.. Please note that the tab name will change from Pay People to Popmoney.

6.     Some of my friends and family bank outside the “network” and have to go to zashpay.com. What will this mean for them?

People who do not use a bank or credit union in the Popmoney network can use the Popmoney service at the upgraded popmoney.com.* There, they can send and receive money just as you do here at Franklin Community Bank, N.A..

Those who have already enrolled at zashpay.com will be directed to go to popmoney.com after the upgrade. Those users will have to update their username, but their password will remain the same. All other information will carry over.

More good news – it will be easier than ever for your friends and family to get the money you send. They can use the “Quick Deposit” feature to deposit the payment without going through the full enrollment process. If they choose to enroll so they can send money as well, they will no longer be required to enter their social security number. You can even send money directly to a financial institution account, so your recipient doesn’t have to do anything. 

*Terms and conditions apply

7.     Will my existing contacts and payment history still be available?

Yes, all history and contact info will be accessible after the upgrade.

8.     What are the new features?

The upgraded Popmoney will offer several new features. You will now be able to:

1. Personalize your gift payments with an e-greeting template
2. Set up future-dated  payments and recurring payments
3. Import contacts from popular email services (such as Hotmail^®, Yahoo!^® ,Gmail^®)
4. Send money using an account number, in addition to using an email address or mobile number
5. Add multiple email addresses and mobile numbers for any contact
6. Respond to all Popmoney activity, including depositing payments and paying requests, from a central dashboard, or “To Do List”
7. Receive money by simply verifying an email address or mobile phone number (without formally enrolling)
8. Access the largest person-to-person payment network for financial institutions, with 1,400 participating banks and credit unions.

9.     How secure is Popmoney?

From the moment information is sent to Popmoney to the time it is stored and accessed again, it is encrypted using industry leading software, hardware and algorithms. Security is also utilized at specific points and actions in the product. For example, to help prevent an unauthorized person from fraudulently depositing someone else’s payment, one-time passcodes are used. For every initial payment to a new email address or mobile phone number, a one-time passcode is sent to the user. The user must provide that passcode back to Popmoney to verify his “ownership” of that mobile number or email address before he can deposit the payment.

10.  How fast can I send and receive money with Popmoney?

With Popmoney, a recipient can receive money in as little as one business day.  However, in some cases it may take longer.  For example, if you send an email or mobile payment and the recipient is not yet registered for Popmoney, he/she must sign up for the service so that we have their account information to deposit their payment. Also, if you exceed your next-day payment limits, then we will deliver payments within three business days.  Limits can and will vary and can be checked by clicking the Help icon on the Send Money screen. 

11.  How will payment limits be handled under the upgraded service?

Limits may vary by user and financial institution.  Limits apply to the amount you can send per transaction, per day and per month, as well as to total outstanding payments. You can always check your limits by going to the “Send Money” screen within the Popmoney service and clicking on the “Help” icon next to the “Amount” field.

12.  Will I be paying any fees?

Fees won’t be changed at the time of the upgrade. You will receive the upgraded features for the same fee you pay to send money today.

PRESS RELEASE

Date:  February 3, 2012

For Immediate Release:

Franklin Community Bank is celebrating its tenth year of service to Franklin County and will be celebrating throughout the year with various community-oriented events. 

Larry A. Heaton, President and CEO, commented, “We are proud of all that we have accomplished in our first decade of service to Franklin County and what better way to celebrate than to continue our track record of giving back to the community.  Our plan is to schedule regular events throughout the year to celebrate with our customers and community partners.”

The first event will be “Breakfast with the Bank” on February 25^th from 8:00 to 10:00 a.m. at Applebee’s.  All proceeds to be evenly split among Helping Hands, Lake Christian Ministry and Cool Branch Rescue Squad.  Tickets are $5.00 each and can be purchased at each of our office locations and at the agencies benefitting from this event. 

We encourage everyone to come out to support these community agencies.

Larry Heaton
Friday, December 16, 2011

By CHARLES BOOTHE – Staff Writer

Larry Heaton, president and CEO of Franklin Community Bank, posed a question last year about new bank regulations.
That question was: Did the consumers really win?

More than 16 months later, the answer is, he said: The jury is still out.

To read the entire Franklin News Post article click on link www.thefranklinnewspost.com/article.cfm?ID=20855&back=archives