Community bank sponsorship, when rooted in authentic relationships, can transform a single local event into an economic engine for an entire region. For the Bank of Botetourt in Buchanan, Virginia, sponsoring the annual Beaver Dam Farm Sunflower Festival in September is about supporting the area’s family farms, local artisans and small businesses that offer goods to visitors flocking to enjoy the farm’s flowering sunflower fields.
Indeed, the best part of the festival at the family-owned Beaver Dam Farm is that success is shared across the community, says Mary Ann Miller, senior vice president, chief marketing officer and head of business development for $939.4 million-asset Bank of Botetourt.
“The festival gives local vendors an opportunity to introduce their businesses to new customers, build lasting relationships and continue to impact our communities long after the weekend is over,” Miller says. “When local businesses succeed, our region is stronger, and that’s always something worth celebrating.”
Fostering measurable community bank economic impact
Candace Monaghan, owner of Beaver Dam Farm Sunflowers, has expanded the festival’s impact by establishing scholarships for students who are pursuing careers in agriculture.
Each year, two $500 scholarships are awarded to seniors at the local high schools, and the festival also annually awards two $250 community scholarships to local nonprofits.
On top of that, the festival organizes field trip days for kids and adults with special abilities, preschoolers and senior citizens.
“It’s inspiring to see how one family’s vision has grown into something that creates opportunities for so many others, and we’re grateful to see its positive impact continue to grow year after year,” Miller says.
In 2023, the sunflower festival generated $1.4 million in economic impact, not only from vendors selling their goods on the festival grounds but also from visitors dining in local restaurants, shopping in local stores and visiting nearby attractions. It’s not just local traffic, either: In 2025, the sunflower festival hosted visitors from 41 states.
“It’s wonderful to see the festival create opportunities that benefit our entire community,” Monaghan says. “To think that our small family farm can have that kind of positive influence on our community is truly humbling.”
A trust-based partnership
41
Number of states represented at the 2025 sunflower festival
Beaver Dam Farm Sunflower’s relationship with the Bank of Botetourt is built on years of trust, both personal and professional, Monaghan says, noting that the community bank has been “a true community partner.”
Whether it’s sponsoring the festival, assisting with ticket sales, helping with land financing or making sure the festival has volunteers to help the event operate smoothly, the Bank of Botetourt has always been there when the festival has needed them, she says.
“Having a local bank where you know the people by name and can pick up the phone to talk with someone you trust provides a level of confidence and peace of mind that’s difficult to find with a larger institution,” Monaghan says. “We’re grateful for their continued support, not only of our family and our farm but of the many community events and organizations the bank invests in throughout Botetourt County.”
The Bank of Botetourt sponsored the hospitality area in 2017, and over the years, the bank’s partnership with the festival has grown, Miller says. Today, the community bank’s support extends to personalized on-site financial solutions, employee volunteerism and ongoing collaboration.
“Our team is proud to support the festival each year through the bank’s Award PTO Program, reflecting a culture of community involvement and shared purpose,” Miller says. “As the festival has grown, we’ve remained committed to maintaining our employee volunteerism with it—not simply as a sponsor but as a trusted partner.”
Festival sponsorship is the culmination of a long relationship
Long before the sunflower festival became the renowned event that it is today, the Bank of Botetourt served the family-owned Beaver Dam Farm for many years, says Michelle R. Austin, president and CEO.
“One of the greatest joys of community banking is watching people you’ve known for years pursue something they truly believe in,” Austin says. “We’ve had the privilege of walking alongside Candace and her family, and it’s been incredibly rewarding to see their vision, innovation and hard work transform a family farm into a destination that has made such a meaningful impact on our region.”
Miller’s advice to other community banks considering similar partnerships? Start by fostering a solid relationship, and everything else will grow from there.
“The best partnerships aren’t built around an event—they’re built over years of trust, encouragement and finding meaningful ways to help people succeed,” Miller says. “Community banks have a unique opportunity to grow alongside their customers because we understand the needs of their businesses, their families, their communities and their dreams.”