"We're one of three community banks that have come to the market since March," said Jim McAlister, a commercial lending officer at the First Bank & Trust Co. office at 1901 S. Main St. in Blacksburg. First Community Bank will be opening an office in the next few weeks at another suite at the same Blacksburg address. And the First Bank of Virginia opened its new office across Main Street from Radford University July 16.

McAlister, part of a three-person staff at the First Bank & Trust office, said he sees the interest by the community banks as a recognition that the economy of the region is growing.

He said First Bank & Trust is starting with a loan office but plans to build a full-service facility within the next year, probably somewhere in the Christiansburg area.

The company got its start in Russell County about 25 years ago. It now has offices in Lebanon, Abingdon, Bristol, Norton, Staunton, Harrisonburg, four localities in Tennessee, and now Blacksburg.

"A lot of the leadership of the bank went to Virginia Tech, and they couldn't stand not having a bank in the Blacksburg area," McAlister said.

He said the company is also looking at locating an office in Wytheville, where he grew up. "And eventually we may go up to Roanoke, if the right opportunity presents itself."

McAlister spent the last nine years with Bank of America in Richmond, having overseen its state branches, then its small business banking enterprises in Virginia, and said he is glad to get back to this part of the state. The other two employees have worked in New River Valley banks - Linda Harrison at Wachovia and Debbie Boyd with Community National Bank of Pulaski, a community bank purchased in June by the National Bank of Blacksburg.

Jeff Irby, manager of the First Bank of Virginia office in Radford, agreed that community banking interest is based on the region's economic potential and said university localities such as Radford and Blacksburg offer particularly good opportunities.

Irby has been in banking for 20 years, a Radford resident since 1968 and was recruited partly because of his ties to the locality, he said. The bank's other employees - Mike Barber, Christine Cole and Rebecca Miles - have also worked locally in banking.

That is what community banking is, Irby said, having bankers who are part of the community and have authority to give quick responses to financial transactions and personalized service, without having to do things online or get permission from a corporate office somewhere else.

"We still think there's a niche for a community bank," Irby said. "The part that's a little scary on our part is there are a bunch of them coming."