Lamanna sees growth opportunities in Lynchburg, Danville as he begins new banking chapter

After more than 25 years in banking, former Truist market president Steve Lamanna discusses his move to Atlantic Union Bank, the region's economic prospects and the changing expectations of business customers.

LYNCHBURG, Va. — After spending much of his banking career with BB&T and its successor, Truist, Steve Lamanna saw an opportunity to make a change — one that would allow him to continue working with businesses in the region he has called home for more than two decades.

Lamanna, who recently joined Atlantic Union Bank as market president for Lynchburg and Danville, said the decision was driven by the opportunity to take the next step in his career with an institution whose approach to banking aligns with his own.

"After more than 25 years in banking, I felt this was the right opportunity to take the next step in my career and join an organization that is deeply committed to the communities it serves," Lamanna told Lynchburg Agenda.

"Atlantic Union Bank has a strong reputation, a clear vision for growth, and a culture that aligns well with my relationship-focused approach to banking."

Lamanna's move follows a 27-year banking career that included serving as Lynchburg market president for Truist following the 2019 merger of BB&T and SunTrust.

His new position places him in charge of commercial banking efforts in two Virginia markets with different economic characteristics but, in his view, significant opportunities for continued growth.

Opportunities across two markets

Lamanna sees Lynchburg and Danville as markets supported by a combination of established businesses, economic development initiatives and major institutions.

"I believe Lynchburg and Danville continue to present tremendous opportunities for growth," he said.

"Both markets benefit from strong business leadership, economic development efforts, higher education institutions, healthcare systems, and a diverse mix of industries."

Those economic foundations, he believes, create opportunities for Atlantic Union to expand its relationships with businesses and other organizations throughout the region.

Lamanna said he was particularly attracted to the bank's combination of community banking traditions and the resources available to serve a broad range of customers.

He sees opportunities to work not only with commercial clients but also with municipalities, nonprofit organizations and individuals.

Banking has changed, but relationships still matter

Having worked in banking through mergers, economic cycles and significant technological changes, Lamanna has witnessed an industry that operates differently from when he began his career.

Commercial banking, he said, has become more sophisticated and increasingly dependent on technology.

Yet one important element has remained largely unchanged.

"Business owners still value trusted advisors who understand their goals, challenges, and opportunities," Lamanna said.

He noted that businesses now expect banks to provide both personal service and increasingly sophisticated financial tools.

"The pace of business has accelerated, and clients expect both high-touch service and innovative banking solutions," he said.

For financial institutions competing for commercial customers, Lamanna believes success requires balancing local relationships with the capabilities of a larger organization.

"The institutions that succeed are those that can combine strong local decision-making and relationship management with the products, expertise, and technology clients need to compete and grow."

A familiar community, a new opportunity

An Amherst native who returned to the Lynchburg area in 2003 after beginning his banking career in Northern Virginia, Lamanna has spent much of his professional life developing relationships with businesses and community leaders throughout Central Virginia.

Although his employer has changed, he says his commitment to the region has not.

"This market has been my home for many years, and I am grateful for the opportunity to continue supporting the people and organizations that make it such a special place to live and work," Lamanna said.

For Lamanna, the next chapter of his career will be focused on strengthening those relationships while helping Atlantic Union Bank expand its commercial banking presence in Lynchburg, Danville and the surrounding communities.

Previously: Lynchburg Agenda reported on Lamanna's appointment as Atlantic Union Bank's market president for Lynchburg and Danville.