StellarOne Corp

(NASDAQ Global Select Market: STEL)

Industry: Banks
On the web: http://www.vfgi.net
Employees: 846

StellarOne Corporation is a Virginia bank holding company. The company's sole banking subsidiary is StellarOne Bank. The company's subsidiary bank is community-oriented and offers services customarily provided by full-service banks, including individual and commercial demand and time deposit accounts, commercial and consumer loans, residential mortgages, credit card services and deposit services. In addition, the company's subsidiary bank offers internet banking access for banking services, and online bill payment for both consumers and commercial customers. Lending is focused on individuals and small and middle-market businesses in the local market of the company's subsidiary bank. The bank, through its trust division, provides a variety of wealth management and personal trust services including estate administration, employee benefit plan administration and planning specifically addressing the investment and financial management needs of its customers. Utilizing a ‘super-community' banking strategy, the subsidiary is run autonomously as a community bank, with the holding company providing common services such as corporate finance, information technology, marketing, human resources, compliance, audit and loan review. The company's growth strategies include new branch expansion, acquisitions and the development of new products and services. New products and services are designed to build on existing businesses and expand into complementary products and services through strategic initiatives. The company's lending strategy is to originate high credit quality, mainly secured, loans. The company's largest core lending business is its commercial and residential real estate loan operation, which offers variable-rate loans and lines of credit secured by real estate properties. These loans are generally made on local properties or to local customers within its markets.