First Bank & Trust Company, a diversified financial services firm, today announced a partnership initiative with Virginia Tech to promote the banking curriculum in the Pamplin College of Business’s finance department.
The undergraduate program in finance is one of the largest programs in the Pamplin College. Coursework includes finance, accounting, and analytics, in addition to hands-on training through several initiatives. One of these is the Credit Corps, which First Bank & Trust Company is helping to support.
“Credit Corps is excited to include a bank of the stature of First Bank & Trust Company in our partnership program. The partners bring substantial value, ensuring that our students are presented experiential learning opportunities and guidance from industry experts like those at First Bank & Trust,” said Professor Fred Hood, faculty advisor to Credit Corps.
Credit Corps focuses on the enhancement of students’ credit risk and business analysis skills. It is modeled after two existing programs in the finance department: BASIS (Bond And Securities Investing by Students) and SEED (Student-managed Endowment for Educational Development). It allows students the opportunity to receive hands-on training by loaning real money to commercial borrowers through participation with banks. Students will also gain access to case studies and workshops, as well as to C-level executives and other senior managers at borrowing companies that agree to participate. As a partner bank, First Bank and Trust Company provides the opportunity for Credit Corps to consider participating in a portion of the loan.
Professor George Morgan, faculty lead for the risk management and banking option, said that “such workplace experiential learning opportunities give our students a substantial advantage in the job market where credit knowledge and analysis skills are highly valued.” The Virginia Tech Foundation committed $2 million over four years to establish Credit Corps in 2019. Students can join Credit Corps in their senior year, following certification from the Risk Management Association.
“In return for giving students real-life examples to enhance their credit skills, this partnership will expose us to a credit-savvy pool of candidates for First Bank & Trust Company’s Internship and Management Associate Program,” stated Raleigh E. Hayter, Chief Credit Officer and Senior Vice President of First Bank & Trust Company. “It is a partnership in its truest form, and an example of the many benefits of bringing the education and business sectors together.”
About Credit Corps
The Credit Corps program is a capstone in the finance major’s risk management and banking option. Students must take core courses in investments, corporate finance, fixed-income securities, credit-risk analysis, and advanced modeling and business analytics, in addition to elective courses during their junior and senior years. Before they can be considered for Credit Corps in their senior year, students must earn certification from the Risk Management Association. Read more about Credit Corps here.
About First Bank & Trust Company
First Bank & Trust Company, one of the top community banks in the United States, is a diversified financial services firm with office locations in southwest Virginia, northeast Tennessee, and New River and Shenandoah Valleys. Financial objectives are addressed by offering free checking products for personal and business accounts, and assessing lending solutions managed by mortgage, agricultural and commercial lending divisions. Comprehensive financial solutions are available through trust and brokerage service representatives.
For more information, visit www.firstbank.com
