American National Bankshares is the holding company for American National Bank and Trust. Founded in 1909, the bank operates about 30 locations serving southern and central Virginia and north central North Carolina. It offers checking and savings accounts, CDs, IRAs, and insurance. Its lending activities primarily consist of real estate loans: Commercial mortgages account for about one-third of the company's loan portfolio; residential mortgages are about, another quarter. The bank's trust and investment services division manages some $475 million in assets. American National Bankshares acquired bank holding company MidCarolina Financial in 2011. The deal expanded its presence in North Carolina.