TowneBank Names New Chief Financial Officer
February 16 2018 - 8:00AM
Hampton Roads based TowneBank (NASDAQ:TOWN) today announced the
promotion of William B. Littreal, CPA, to the position of Senior
Executive Vice President and Chief Financial Officer to be
effective upon the previously announced retirement of Clyde E.
McFarland, Jr., who has served in that role since the founding of
the company in 1999.
Mr. Littreal joined TowneBank in 2008 and has
served in several executive roles as the company’s Finance Director
from 2008 – 2011, Chief Operating Officer from 2011 – 2016, and in
his current role as Chief Strategy Officer and Director of Investor
Relations. Mr. Littreal will continue in his investor
relations role when he assumes his new post. Prior to joining
the company, Mr. Littreal served as Chief Financial Officer of
another publicly-held financial institution.
He is a 1992 graduate of Christopher Newport
University with a Bachelor of Science degree in Accounting, holds a
Master of Science degree in IT Management from University of
Virginia and is a Certified Public Accountant.
“In 2014, Bill and I began a journey together to
build a pathway to the future for our Towne family by expanding our
banking franchise into the Richmond, Raleigh and Charlotte
markets,” said G. Robert Aston, Jr., Chairman of the Board and
Chief Executive Officer. “He has played a major role in
numerous acquisitions in the banking, insurance and real estate
segments of our business. Most importantly, he thoroughly
understands and embraces the caring culture of our company and
lives by our values of serving others and enriching lives. No
one is better qualified to lead the continued financial development
of our company as we march into the next decade.”
Mr. Littreal has three daughters and resides in
Toano, Virginia with his wife, Maria.
About TowneBank
As one of the top community banks in Virginia
and North Carolina, TowneBank operates 40 banking offices serving
Chesapeake, Chesterfield County, Glen Allen, Hampton, James City
County, Mechanicsville, Newport News, Norfolk, Portsmouth,
Richmond, Suffolk, Virginia Beach, Williamsburg, and York County in
Virginia, along with Raleigh, Cary, Charlotte, Moyock, Grandy,
Camden County, Southern Shores, Corolla and Nags Head in North
Carolina. Towne also offers a full range of financial
services through its controlled divisions and subsidiaries that
include Towne Investment Group, Towne Wealth Management, Towne
Insurance Agency, Towne Benefits, TowneBank Mortgage, TowneBank
Commercial Mortgage, Berkshire Hathaway HomeServices Towne Realty,
Towne 1031 Exchange, LLC, and Towne Vacations. Local
decision-making is a hallmark of its hometown banking strategy that
is delivered through the leadership of each group’s President and
Board of Directors. With total assets of $8.52 billion
as of December 31, 2017, TowneBank is one of the largest banks
headquartered in Virginia. Based on financial data as of
September 30, 2017 and reflecting the recently completed merger
with Paragon Commercial Corporation, TowneBank would have total
assets of $10.5 billion, gross loans of $7.3 billion and
total deposits of $7.8 billion.
For more information contact:G.
Robert Aston, Chairman and CEO, 757-638-6780
TowneBank (NASDAQ:TOWN)
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