First Bank names new exec VP and CFO

Former TowneBank President and Chief Operating Officer Brad E. Schwartz will join First National and First Bank as executive vice president and chief financial officer effective March 31.

Strasburg-based First National, the bank holding company of First Bank, made the announcement Monday. Schwartz succeeds Shane Bell, who left late last year to become CFO for Potomac Bankshares, parent company of the Bank of Charles Town in West Virginia.

Schwartz brings 40 years of experience in banking in Virginia to the job. He was former CEO, CFO and COO of Monarch Bank prior to its acquisition by TowneBank in 2016.

As CFO of First National, Schwartz will oversee all aspects of financial planning, strategy, budgeting, investor relations, accounting operations and regulatory filings. He will join President and CEO Scott Harvard and COO Dennis Dysart as executive officers.

“We are truly excited to have Brad Schwartz joining the First National team at such a critical time for our banking company,” Harvard said in a statement. “Our company has completed three acquisitions in the last 10 years, which has changed the trajectory of our company and demands strong, experienced leadership across the executive team. Brad’s leadership and M&A experience, financial acumen and understanding of community banking make him a perfect fit for First Bank at this time in our 118-year history.”

Schwartz holds a bachelor’s degree in business administration and accounting from Longwood University and an MBA from the University of Richmond and is a graduate of the Stonier Graduate School of Banking at Georgetown University. He is also a board member of the Community Bankers Bank and served on the Virginia Bankers Association board.

“I am looking forward to joining First National and contributing to the company’s continued growth and success,” Schwartz said in a statement. “My entire career has been focused on high-performance community banking, and I am truly excited to be joining this team and board. I was attracted to their culture of customer and community service that has resulted in a track record of success.”

First Bank, which first opened for business in 1907 in Strasburg, has about 325 employees, assets of $2 billion and 33 branches located throughout Virginia and northern North Carolina.