TowneBank promotes HR chief to COO

TowneBank has promoted R. Lee Clark from chief human resources officer to chief operating officer, the Suffolk-based bank announced Thursday.

In this role, Clark will continue to oversee human resources and will be responsible for bank operations. He’ll also become a member of the corporate management team.

“Throughout his career at TowneBank, Lee has led with a steady hand and calm demeanor,” TowneBank President and CEO William I. “Billy” Foster III said in a statement. “His operational experience at TowneBank, track record of consistent follow-through and commitment to our culture of caring make him ideally suited to lead our knowledgeable and experienced operations group.”

Clark partially succeeds Brad E. Schwartz, who retired as bank president and COO on Dec. 31, 2022. Foster succeeded Schwartz as president, in addition to succeeding J. Morgan Davis as CEO.

Clark joined TowneBank in 20o6 as a senior business analyst. He held leadership positions in loan administrations and banking operations before becoming chief human resources officer in 2019. Prior to joining TowneBank, Lee held varying officer roles at Bank of Tidewater and SouthTrust Corp.

Clark has a bachelor’s of business administration degree in finance from William & Mary and an MBA from Old Dominion University’s Strome College of Business.

Founded in 1999, TowneBank now has more than 40 banking offices throughout Hampton Roads and Central Virginia and in North Carolina. TowneBank ended 2021 with a net income of $215.4 million, a 48% increase over 2020. Total assets were $15.38 billion on average for 2021. As of Sept. 30, 2022, TowneBank had total assets of $15.95 billion.