|
Warner Dalhouse, Chairman of the Board of Directors of HomeTown Bank, announced to
the shareholders at the Bank's annual meeting held today at the Jefferson Center that the Board
has elected a new President and CEO and a new Chairman of the Board of Directors.
Susan K. Still will succeed William S. Clark as President and CEO, and William R. Rakes
will succeed Dalhouse as Chairman of the Board. Dalhouse has completed his three-year term as
Chairman but will remain a member of the Board.
Clark resigned effective May 22 and Still was named President and CEO effective that date.
Still was employed as Executive Vice President and Chief Lending Officer by HomeTown
Bank months before it opened for business in November 2005. She has had 32 years of banking
experience, including 26 years at Wachovia Bank and its predecessor bank, Dominion Bank, and
more recently, at SunTrust Bank. Dalhouse stated: "I have known Susan and her work as a
banker for a long time and have the highest regard for her capability."
Still stated, "I appreciate the Board's confidence in me, and I am both honored and
delighted to have the opportunity to serve HomeTown Bank as its new President and CEO."
Dalhouse read from Clark's letter of resignation, "I have been a hands-on CEO, but one
who utilizes a team approach. Although there have been some differences of opinion, I have
always had the best interest of the bank at heart. I now understand that there has to be a change in
the focus and direction of the CEO." Clark went on to state in his letter, "To the staff of
HomeTown Bank I offer my heartfelt thanks for the extraordinary opportunity I have had to work
with you, lead you, and observe your incredible progress and dedication to the bank. I have
enormous faith that HomeTown Bank is in good hands."
Rakes is a co-founder of HomeTown Bank and is a partner in the Roanoke law firm of
Gentry Locke Rakes & Moore. He stated, "I am proud to be a part of HomeTown Bank. We have
constructed a solid foundation for future success and I have every confidence that Susan Still is the
right person to lead us there."
It was announced at the meeting that regulatory approvals have been received to open
NewRiver Bank, a branch of HomeTown Bank, in Chrstiansburg. HomeTown Bank is working
with the NewRiver Bank Development Committee to establish the branch and a loan production
office, also under the name NewRiver Bank. The loan production office is open for business and
the branch will open in mid-June.
HomeTown Bank commenced business in November 2005 with $25,000,000 of capital and
has grown its assets to over $175,000,000 in just thirty months.
HomeTown Bank's main office is in downtown Roanoke; it also has offices on Franklin
Road in South Roanoke, at the intersection of Route 419 and Colonial Avenue in Roanoke
County, and at Westlake on Smith Mountain Lake. Its fifth office, NewRiver Bank, will open in
Christiansburg in mid-June.
|
