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Freedom First credit union CEO to retire in 2026
Freedom First CEO Paul Phillips will retire in 2026. CFO Linda Johnson will succeed him at the Roanoke-headquartered credit union.
United Bank hires Charlottesville market president
Stuart Macfarlane is United Bank’s new Charlottesville market president. The Fairfax-based bank announced his role in late September.
Hampton Roads Business 2025: Executive Insights
Virginia Business asked six Hampton Roads leaders to discuss how their organizations are contributing to the region’s success and meeting challenges such as changing trade policy, regional cooperation and workforce training. PAT DAVIS-HAGENS Market president, Bon Secours Hampton Roads, Suffolk How does Bon Secours assess where to open new facilities, like the hospital in Suffolk […]
TowneBank grows market share via M&A
TowneBank is once again the leader in the Hampton Roads banking market, holding a nearly 30% share as of June 2024. That’s set to grow quickly. Towne’s $203 million acquisition of Norfolk-based Old Point National Bank of Phoebus and its parent company closed in September. In August, TowneBank announced it plans to acquire North Carolina’s […]
TowneBank completes $203M acquisition of Old Point
TowneBank has closed its $203 million acquisition of Hampton-based Old Point National Bank of Phoebus and its parent company.
Banking | Finance 2025: BRANCH, VICTOR K.
With more than 40 years of service at Bank of America, Branch has been president of the bank’s Richmond market since 2015. Bank of America reported $27.1 billion in net income in 2024 and employs 213,000 people globally. The immediate past chairman of the Virginia Bankers Association board and a William & Mary alum, Branch […]
Banking | Finance 2025: FAW, GWEN
Faw, who has worked at Wells Fargo for three decades, was named regional executive for the bank‘s greater Virginia market, a territory that spans from Virginia Beach to Bristol, in 2024. A Bedford County resident, she is responsible for 93 branches and oversees more than 700 employees. Starting out as a bank teller in Bedford, Faw became […]
Banking | Finance 2025: BARKIN, THOMAS I.
Barkin has served as head of one of 12 regional Fed banks since 2018. Previously a voting member on the Fed’s powerful interest- setting Federal Open Market Committee in 2024, he rotated off in 2025. In May, Barkin told attendees at the Investing in Rural America Conference in Roanoke that the key to population and […]
Banking | Finance 2025: FOSTER III, WILLIAM I. ‘BILLY’
At TowneBank’s helm since 2023, Foster is steering the regional community bank through a financial growth period. On April 3, TowneBank announced plans to acquire Old Point Financial, parent company of Old Point National Bank of Phoebus, in a deal valued at $203 million. The merger is expected to enhance TowneBank’s position as the bank with […]
Banking | Finance 2025: DI RITA, LAWRENCE ‘LARRY’
Di Rita has led the greater D.C. market for Bank of America since 2019. He’s also the bank’s head of global public policy. Bank of America posted $27.1 billion in net income in 2024, a 2.33% increase from 2023, and had $3.26 trillion in total assets, a 2.56% increase compared to 2023. Di Rita joined […]
Banking | Finance 2025: BERNERT III, LAWRENCE ‘LARRY’
After Clearstead Advisors, an Ohio-based financial advisory firm, acquired the assets of Norfolk-based Wilbanks Smith & Thomas Asset Management last year, Bernert’s job evolved from WST’s principal to senior managing director for Clearstead Advisory Solutions. Prior to the acquisition, WST boasted more than $5 billion of assets under management, which it added to Clearstead’s[...]
Banking | Finance 2025: FAIRBANK, RICHARD
After earning an economics degree and an MBA from Stanford University, Fairbank landed at Virginia’s Signet Bank, where he co-created the business that became Capital One, the Fortune Global 500 credit card giant. Fairbank became CEO in 1994 during Capital One’s initial public offering. In 2024, the bank reported $39.1 billion in revenue, a 6.3% […]
