TowneBank appoints new CIO

Suffolk-based TowneBank has appointed Varun Chandhok as senior executive vice president and chief information officer, the bank announced this week.

He started the job on Jan. 21, succeeding Denys Diaz, who retired. According to his LinkedIn profile, Diaz held the role from 2016 until December 2025, before launching his own company, Denys Diaz Consulting, at the start of the year.

As CIO, Chandhok will have oversight of the company’s IT operations and teams, helping expand technology capabilities. He is a member of TowneBank’s corporate management team based at the Suffolk headquarters. He most recently was the CIO at WesBanco Bank and the chief information and operations officer at Premier Bank.

Before those roles, he spent 22 years at M&T Bank, where he held multiple executive positions, leading technology strategy and supporting consumer, commercial and corporate functions. He received his undergraduate degree and MBA from Carnegie Mellon University.

“Varun is exceptionally well-equipped to further advance our technology strategy and champion our continued growth,” TowneBank Chief Operating Officer Lee Clark said in a statement. “We are excited to have him lead our very talented IT team and help expand our technology capabilities so we can continue providing exquisite service to our members and the Towne family.”

In January, TowneBank completed its $476 million acquisition of North Carolina-based Dogwood State Bank, following the 2025 purchases of Old Point National Bank of Phoebus and Village Bank.

Founded in 1999, TowneBank operates over 70 banking offices throughout Hampton Roads and Central Virginia, North Carolina and South Carolina, with a projected $22 billion in assets. The company employs roughly 3,000 people.