Appalachian Community Capital announces new CEO

Appalachian Community Capital, a Christiansburg-based financial institution that supports small-business and community development across the Appalachian region, has named Daniel Wallace its next president and CEO.

He will take over on Jan. 2, 2026, succeeding Donna Gambrell, who is retiring at the end of the year after nearly a decade of leading the organization’s growth.

“I’m honored to step into this role at such a pivotal moment for Appalachian Community Capital,” said Daniel Wallace in a statement. “Across the region, there is a powerful opportunity to strengthen the economic backbone of our communities, expand flexible capital for underserved entrepreneurs and build the long-term capacity that makes resilience possible.”

Wallace, who has almost 30 years of experience in rural business development and nonprofit leadership, joins ACC from the Green Bank for Rural America, an ACC subsidiary he has led since its launch last year.

The Green Bank was established to accelerate investment in rural enterprises, community projects and energy-resilient infrastructure. It was launched with a $500 million award from the Environmental Protection Agency. Under Wallace’s leadership, the subsidiary identified more than $328 million in energy-related businesses and projects.

Before joining Green Bank, Wallace was chief investment officer at Coastal Enterprises, Inc. (CEI), where he led efforts to develop new financing tools to expand access to capital for low-income communities and entrepreneurs often overlooked by traditional financial markets. CEI’s loan and investment portfolio grew to a record $78 million during that period.

In a statement, Interim ACC Board Chair Marten Jenkins said the institution was “thrilled” to welcome Wallace as its president and CEO.

“His catalytic leadership in development finance — and his deep commitment to building pathways to durable prosperity — align perfectly with ACC’s vision and the momentum we are building for the future,” Jenkins said.

Wallace said he’s excited to work alongside the organization’s community development financial institution members and partners “to advance a more prosperous future for Appalachia and rural America.”

Based in Christiansburg, ACC is a CDFI lending intermediary created to raise capital for its 43 members. The members then use ACC’s capital to fund small businesses in underserved areas in Appalachia. The members and their affiliates manage $4.5 billion in assets.