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VIRGINIAvabankers.org2025VIRGINIA BANKERS ASSOCIATION | Serving Virginia’s Financial Community Since 18932024-2025 VBA ChairmanVICTOR K. BRANCH BANK OF AMERICABankingANNUAL Message
3TABLE of CONTENTSMARSHALL JETTVice Presidentmarshall.jett@pwcampbell.com412.737.2508pwcampbell.com/team/marshall-jettMeeting growth and retention goals is increasingly difcult. A partner that can help you analyze your current and potential markets is essential. Starting with your strategic goals, we will develop a data-driven facility plan to determine network optimization, protability, and expansion opportunities.We’re not just about data, we also are experiential designers, branding, and technology experts that will deliver environments to delight your customers and staff while providing the functionality and exibility to meet future demands.MEET YOUR OBJECTIVES THROUGH DATA DRIVEN PLANNING AND INNOVATIVE DESIGN.BUILDINGCONFIDENCEVIRGINIA BANKING ANNUAL | 2024-2025 | TABLE OF CONTENTSDavid P. Boyle Burke & Herbert BankJohn J. Brough Chain Bridge Bank, NAJohn R. CaldwellThe Farmers Bank of AppomattoxSteven A. DeLucaCapital One Financial CorporationDennis A. DysartFirst Bank, VirginiaAubrey H. Hall, III First National BankG. Lyn Hayth, IIIBank of BotetourtBrandon C. Lorey Bank of ClarkeShane McLaughlinWells Fargo Bank, N.A.W. Mark NelsonFirst Bank & Trust CompanyThomas L. Ransom Truist BankSherri A. SackettSelect BankGary R. ShookCommunity Bankers' BankRobert F. Shuford, Jr. Old Point Financial CorporationBrian K. Skinner TowneBankMaria P. Tedesco Atlantic Union BankJoseph J. Thomas Freedom Bank of VirginiaRobert C. Wood, Jr. United BankVictor K. Branch CHAIRMANBank of America, NAThomas F. Cherry C&F BankLITZ H. VAN DYKEIMMEDIATE PAST CHAIRMAN Carter Bank4INSIGHTS& 2024-2025 TIMELINE6CHAIRMAN’S REFLECTIONS16VBA BENEFITS CORPORATION82025 MBA|VBA JOINT CONVENTION10GOVERNMENT RELATIONS18EDUCATION & TRAINING13D.C. BANKERS ASSOCIATION26EMERGINGBANK LEADERS28VBA EDUCATION FOUNDATION30TITLE AGENCIES, VMBA & VBA STAFF 2024-2025 | VBA BOARD 14LEGAL & REGULATORY
3TABLE of CONTENTSMARSHALL JETTVice Presidentmarshall.jett@pwcampbell.com412.737.2508pwcampbell.com/team/marshall-jettMeeting growth and retention goals is increasingly difcult. A partner that can help you analyze your current and potential markets is essential. Starting with your strategic goals, we will develop a data-driven facility plan to determine network optimization, protability, and expansion opportunities.We’re not just about data, we also are experiential designers, branding, and technology experts that will deliver environments to delight your customers and staff while providing the functionality and exibility to meet future demands.MEET YOUR OBJECTIVES THROUGH DATA DRIVEN PLANNING AND INNOVATIVE DESIGN.BUILDINGCONFIDENCEVIRGINIA BANKING ANNUAL | 2024-2025 | TABLE OF CONTENTSDavid P. Boyle Burke & Herbert BankJohn J. Brough Chain Bridge Bank, NAJohn R. CaldwellThe Farmers Bank of AppomattoxSteven A. DeLucaCapital One Financial CorporationDennis A. DysartFirst Bank, VirginiaAubrey H. Hall, III First National BankG. Lyn Hayth, IIIBank of BotetourtBrandon C. Lorey Bank of ClarkeShane McLaughlinWells Fargo Bank, N.A.W. Mark NelsonFirst Bank & Trust CompanyThomas L. Ransom Truist BankSherri A. SackettSelect BankGary R. ShookCommunity Bankers' BankRobert F. Shuford, Jr. Old Point Financial CorporationBrian K. Skinner TowneBankMaria P. Tedesco Atlantic Union BankJoseph J. Thomas Freedom Bank of VirginiaRobert C. Wood, Jr. United BankVictor K. Branch CHAIRMANBank of America, NAThomas F. Cherry C&F BankLITZ H. VAN DYKEIMMEDIATE PAST CHAIRMAN Carter Bank4INSIGHTS& 2024-2025 TIMELINE6CHAIRMAN’S REFLECTIONS16VBA BENEFITS CORPORATION82025 MBA|VBA JOINT CONVENTION10GOVERNMENT RELATIONS18EDUCATION & TRAINING13D.C. BANKERS ASSOCIATION26EMERGINGBANK LEADERS28VBA EDUCATION FOUNDATION30TITLE AGENCIES, VMBA & VBA STAFF 2024-2025 | VBA BOARD 14LEGAL & REGULATORY
4 5CHANGE AND CONTINUITYBruce WhitehurstPRESIDENT & CEOMID-ATLANTIC BANKERS ASSOCIATION & VIRGINIA BANKERS ASSOCIATIONINSIGHTS | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | INSIGHTSWhen I became the VBA’s President & CEO in 2007, after serving on staff for 13 years, I wrote a column for Virginia Banking entitled Change and Continuity. I wrote about the staff leadership change from my 23-year predecessor and mentor, Walter Ayers, to me, and the continuity of the VBA as a longstanding organization with a clear mission since day one.As we complete the rst year with our new holding company, the Mid-Atlantic Bankers Association – the vehicle that enabled our combination with the Maryland Bankers Association – we also remain the 132-year-old Virginia Bankers Association. So here we are at another point of change as well as continuity. The merger with the MBA reects two very important elements: the need to evolve our business model as the banking industry continues to consolidate, and the need to continue the core mission of advocating for the banking industry in Richmond and Washington D.C. The former element is directly intended to add even more strength to the latter.As all who have experienced mergers know well, the merger effective date is just the beginning of an integration process that will not always be a smooth, straight path. At the VBA and MBA, we haven’t been the exception to the rule, yet overall, year one has gone well and we denitely see the benets we anticipated coming to fruition. We also see a lot of work ahead as we continue to strive for excellence in all that we do.At the VBA, we have had another eventful and productive year, as 2024-2025 VBA Chairman Victor Branch outlines in his column later in this Annual. The outstanding VBA team has maintained our active engagement on all fronts, while also supporting our new two-state enterprise in various ways. I am very grateful to the many bankers who have provided leadership, advocacy and engagement in our broad array of products and services for banks. There are many well-known quotes centered around the idea that change is the only constant in life. This concept rings true, and I think it’s also accurate to say that an organization that has stood the test of time for 132 years is one that has learned to evolve with the ever-changing times. Here’s to year 133 and all the change it will bring!NUMBER OF VBA Member Banks:NUMBER OF Associate Members (includes Financial Services Members):NUMBER OF Endorsed Providers:8816523Member board of directors, representing banks from across the state; 6-member executive committeeBankers serving on MSI, Benets and Education Foundation boardsVBA committees with 287 bankers serving, representing 69 banks or 78% of VBA member banks21VBA MEMBER DATAas of June 2025VBA MEMBERENGAGEMENT SNAPSHOT4115An organization that has stood the test of time for 132 years is one that has learned to evolve with the ever-changing times.IN MEMORIAMRichard OwenCARTER BANK EXECUTIVE VICE PRESIDENT Former VBA teammate Richard Owen, Carter Bank executive vice president of mortgage banking and corporate sales director, passed away unexpectedly on January 25, 2025. Richard spent the better part of his career working with or adjacent to the VBA. He was a member of the VBA member relations team from 2006-2013, when he managed the bank-owned title agencies and the Virginia Mortgage Bankers Association. Richard will be missed by all who knew him. 20252024Due to water issues in the city of Richmond, VBA Banker Day was canceled and the VBA/VA Chamber Financial Forecast was held virtually featuring speakers Tom Barkin, Federal Reserve Bank of Richmond, and Melina Duggal, CoStar Group. Bank of Charles Town President & CEO and ICBA Vice Chair Alice Frazier testied on behalf of the banking industry at the rst House Small Business Committee hearing of the 119th Congress. During her testimony, Alice called on lawmakers to advance regulatory and tax relief that will further enhance lending to the nation’s small businesses. She also advocated for policies to spur economic growth and job creation in local communities.The Maryland Bankers Association named Tisha Edwards, MSW, JD, as president and CEO. In this role, Tisha also serves as the executive vice president of the Mid-Atlantic Bankers Association.Nearly 100 Virginia bankers attended the VBA/ABA Washington Summit and heard from public ofcials and issue experts on the status of the nation’s economy and banking system.Nearly 175 bankers gathered for the Burgers with Bruce series, where they enjoyed an industry update from VBA President and CEO Bruce Whitehurst followed by a “Leadership Dialogues” panel that consisted of three bankers from each Emerging Bank Leaders region.Nearly 460 bankers and industry partners gathered for the second annual MBA|VBA Joint Convention in Naples, FL, where Tom Cherry, C&F Bank, was elected as the 2025-2026 VBA Chairman.January 9, 2025February 5, 2025February 28, 2025April 7-9, 2025April-May, 2025June 22-25, 2025Victor Branch, Bank of America, was elected as 2024-2025 VBA Chairman at the rst annual MBA|VBA Joint Convention in Amelia Island, Florida.The Maryland Bankers Association and Virginia Bankers Association combine through the formation of the Mid-Atlantic Bankers Association with the goal of enhancing industry advocacy and member services in both states.Eighty-seven Virginia bankers graduated from the 86th session of the Virginia Bankers School of Bank Management.The VBA and banks across Virginia step up to support recovery efforts and those impacted by Hurricane Helene in southwest Virginia, North Carolina and Tennessee. Members of the VBA Executive Women in Banking Peer Group met with Fed Governor Miki Bowman, sharing information and perspectives on current issues affecting Virginia banks, including relationships with regulators, deposits, regulatory burden, and fraud.John Asbury, Atlantic Union Bank, was installed as 2024-2025 American Bankers Association Chairman at the ABA Annual Convention in New York City.The MBA and VBA Board of Directors approved the 2025-2027 MBA/VBA Strategic Plan, a joint two-state effort to strategically align services and structure, leverage best practices, and enhance our membership experience - both as individual associations and together. The plan is built around two strategic pillars - Elevate and Evolve – that support a forward-leaning posture.June 4, 2024July 1, 2024July 26, 2024October 2024October 28, 2024October 29, 2024December 2024TIMELINEMembers of the MBA and VBA team gathered in Richmond for a staff mini-retreat in October 2024.
4 5CHANGE AND CONTINUITYBruce WhitehurstPRESIDENT & CEOMID-ATLANTIC BANKERS ASSOCIATION & VIRGINIA BANKERS ASSOCIATIONINSIGHTS | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | INSIGHTSWhen I became the VBA’s President & CEO in 2007, after serving on staff for 13 years, I wrote a column for Virginia Banking entitled Change and Continuity. I wrote about the staff leadership change from my 23-year predecessor and mentor, Walter Ayers, to me, and the continuity of the VBA as a longstanding organization with a clear mission since day one.As we complete the rst year with our new holding company, the Mid-Atlantic Bankers Association – the vehicle that enabled our combination with the Maryland Bankers Association – we also remain the 132-year-old Virginia Bankers Association. So here we are at another point of change as well as continuity. The merger with the MBA reects two very important elements: the need to evolve our business model as the banking industry continues to consolidate, and the need to continue the core mission of advocating for the banking industry in Richmond and Washington D.C. The former element is directly intended to add even more strength to the latter.As all who have experienced mergers know well, the merger effective date is just the beginning of an integration process that will not always be a smooth, straight path. At the VBA and MBA, we haven’t been the exception to the rule, yet overall, year one has gone well and we denitely see the benets we anticipated coming to fruition. We also see a lot of work ahead as we continue to strive for excellence in all that we do.At the VBA, we have had another eventful and productive year, as 2024-2025 VBA Chairman Victor Branch outlines in his column later in this Annual. The outstanding VBA team has maintained our active engagement on all fronts, while also supporting our new two-state enterprise in various ways. I am very grateful to the many bankers who have provided leadership, advocacy and engagement in our broad array of products and services for banks. There are many well-known quotes centered around the idea that change is the only constant in life. This concept rings true, and I think it’s also accurate to say that an organization that has stood the test of time for 132 years is one that has learned to evolve with the ever-changing times. Here’s to year 133 and all the change it will bring!NUMBER OF VBA Member Banks:NUMBER OF Associate Members (includes Financial Services Members):NUMBER OF Endorsed Providers:8816523Member board of directors, representing banks from across the state; 6-member executive committeeBankers serving on MSI, Benets and Education Foundation boardsVBA committees with 287 bankers serving, representing 69 banks or 78% of VBA member banks21VBA MEMBER DATAas of June 2025VBA MEMBERENGAGEMENT SNAPSHOT4115An organization that has stood the test of time for 132 years is one that has learned to evolve with the ever-changing times.IN MEMORIAMRichard OwenCARTER BANK EXECUTIVE VICE PRESIDENT Former VBA teammate Richard Owen, Carter Bank executive vice president of mortgage banking and corporate sales director, passed away unexpectedly on January 25, 2025. Richard spent the better part of his career working with or adjacent to the VBA. He was a member of the VBA member relations team from 2006-2013, when he managed the bank-owned title agencies and the Virginia Mortgage Bankers Association. Richard will be missed by all who knew him. 20252024Due to water issues in the city of Richmond, VBA Banker Day was canceled and the VBA/VA Chamber Financial Forecast was held virtually featuring speakers Tom Barkin, Federal Reserve Bank of Richmond, and Melina Duggal, CoStar Group. Bank of Charles Town President & CEO and ICBA Vice Chair Alice Frazier testied on behalf of the banking industry at the rst House Small Business Committee hearing of the 119th Congress. During her testimony, Alice called on lawmakers to advance regulatory and tax relief that will further enhance lending to the nation’s small businesses. She also advocated for policies to spur economic growth and job creation in local communities.The Maryland Bankers Association named Tisha Edwards, MSW, JD, as president and CEO. In this role, Tisha also serves as the executive vice president of the Mid-Atlantic Bankers Association.Nearly 100 Virginia bankers attended the VBA/ABA Washington Summit and heard from public ofcials and issue experts on the status of the nation’s economy and banking system.Nearly 175 bankers gathered for the Burgers with Bruce series, where they enjoyed an industry update from VBA President and CEO Bruce Whitehurst followed by a “Leadership Dialogues” panel that consisted of three bankers from each Emerging Bank Leaders region.Nearly 460 bankers and industry partners gathered for the second annual MBA|VBA Joint Convention in Naples, FL, where Tom Cherry, C&F Bank, was elected as the 2025-2026 VBA Chairman.January 9, 2025February 5, 2025February 28, 2025April 7-9, 2025April-May, 2025June 22-25, 2025Victor Branch, Bank of America, was elected as 2024-2025 VBA Chairman at the rst annual MBA|VBA Joint Convention in Amelia Island, Florida.The Maryland Bankers Association and Virginia Bankers Association combine through the formation of the Mid-Atlantic Bankers Association with the goal of enhancing industry advocacy and member services in both states.Eighty-seven Virginia bankers graduated from the 86th session of the Virginia Bankers School of Bank Management.The VBA and banks across Virginia step up to support recovery efforts and those impacted by Hurricane Helene in southwest Virginia, North Carolina and Tennessee. Members of the VBA Executive Women in Banking Peer Group met with Fed Governor Miki Bowman, sharing information and perspectives on current issues affecting Virginia banks, including relationships with regulators, deposits, regulatory burden, and fraud.John Asbury, Atlantic Union Bank, was installed as 2024-2025 American Bankers Association Chairman at the ABA Annual Convention in New York City.The MBA and VBA Board of Directors approved the 2025-2027 MBA/VBA Strategic Plan, a joint two-state effort to strategically align services and structure, leverage best practices, and enhance our membership experience - both as individual associations and together. The plan is built around two strategic pillars - Elevate and Evolve – that support a forward-leaning posture.June 4, 2024July 1, 2024July 26, 2024October 2024October 28, 2024October 29, 2024December 2024TIMELINEMembers of the MBA and VBA team gathered in Richmond for a staff mini-retreat in October 2024.
6 7Victor K. BranchRICHMOND MARKET PRESIDENT, BANK OF AMERICA2024-2025 VBA CHAIRMANCHAIRMAN’S REFLECTIONS | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | CHAIRMAN’S REFLECTIONSIt’s a true honor to reect on an incredible year for the Virginia Bankers Association. I’m lled with gratitude, pride, and optimism - not only for what we’ve accomplished together, but for the path we’re paving together for the future of banking.We were celebrating the pending merger of the MBA and VBA at our rst annual Joint Convention in Amelia Island in June 2024. On July 1, 2024 the Mid-Atlantic Bankers Association was ofcially formed, merging the MBA and VBA into a two-state enterprise through the Holding Company that enhances industry advocacy and member services in both states and with the D.C. Bankers Association we partnered to form in 2023. Over the last year, the benets of our merger have already become evident, and it has reinforced the strength of the broader banking community. It has been a powerful reminder that when we open our doors wider, we all benet.As with any merger – and while the integration has gone well – we did encounter some unexpected challenges, and I’m pleased to report that the leadership team stepped up in a meaningful way to address them head on. One particular challenge related to the departure of the former MBA President & CEO, which led to a CEO search and the hiring of Tisha Edwards as the new MBA president and CEO. We're pleased to have her on board as a key member of the leadership team.This past fall, key stakeholders took part in developing the 2025-2027 MBA/VBA Strategic plan, rening our vision and aligning our efforts to ensure that the new two-state enterprise remains a forward-thinking, member-driven organization. We focused on how to better serve our members, how to adapt to a rapidly changing nancial landscape, and how to ensure that our advocacy, education, and leadership development programs remain second to none. As VBA Chairman, I was honored to co-host an Unbanked Symposium with Delegate Mike Jones in August 2024 to discuss access to credit, capital and general banking services and products in a LMI neighborhood in south Richmond. Again, the VBA brought great support to this event, and it stands as a model for what we can accomplish collectively through our outstanding association.This year tested our ability to be exible and nimble - and I’m proud of how we rose to the occasion. We successfully redeployed the VBA/VA Chamber Financial Forecast, as a virtual event, in January following a water crisis in Richmond. This event is a cornerstone of our calendar, and thanks to your support and the exibility of the VBA team, we were able to “pivot” and deliver the content in an effective way. This adaptability is a testament to the strength of our association and the commitment of our members.We saw record-breaking participation at the VBA/ABA Washington Summit this spring. Your presence and advocacy made a real impact and sent a clear message to our elected ofcials: Virginia bankers are informed, engaged, and united in our mission to support our communities and economy.I am so thankful for the incredible support I’ve been shown throughout my time as Chairman. From our interactions at VBA events to the warm welcomes I received at regional legislative meetings and bank visits with Bruce, I’ve been continually inspired by Virginia bankers’ passion and dedication. These visits gave me the opportunity to hear directly from you - about your challenges, your successes, and your hopes for the future of banking in Virginia. As we look ahead, I’m condent that the VBA and banking in Virginia is stronger than ever. Together, we’ve built momentum, deepened our connections, and reafrmed our shared commitment to excellence. Thank you for your trust, your engagement, and your unwavering support. Let’s continue to lead with purpose, adapt with courage, and serve with heart. Here’s to another outstanding year ahead.CHAIRMAN’S REFLECTIONS Victor was installed as the 2024-2025 VBA Chairman on June 4, 2024 at the MBA|VBA Joint Convention in Amelia Island, Florida.Victor attended the 2024 State Legislative Meetings in Richmond and Roanoke.Victor joined nearly 100 Virginia bankers at the 2025 VBA/ABA Washington Summit and led discussions with legislators and legislative staff. Victor joined the VBA staff for breakfast in August 2024 at the VBA ofce in Glen Allen.Victor introduced Tom Barkin, Federal Reserve Bank of Richmond President & CEO, during the virtual VBA/VA Chamber Financial Forecast in January 2025.Victor co-hosted an Unbanked Symposium with Delegate Mike Jones in August 2024 to discuss access to credit, capital and general banking services and products in a LMI neighborhood in south Richmond.Victor joined bankers at the VBA ofce in Glen Allen in October for a conversation with Congressman Rob Wittman ahead of the 2024 elections.Victor presided alongside Janet Currie, Bank of America, at the MBA|VBA Joint Convention at The Ritz-Carlton, Naples, Florida in June 2025.
6 7Victor K. BranchRICHMOND MARKET PRESIDENT, BANK OF AMERICA2024-2025 VBA CHAIRMANCHAIRMAN’S REFLECTIONS | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | CHAIRMAN’S REFLECTIONSIt’s a true honor to reect on an incredible year for the Virginia Bankers Association. I’m lled with gratitude, pride, and optimism - not only for what we’ve accomplished together, but for the path we’re paving together for the future of banking.We were celebrating the pending merger of the MBA and VBA at our rst annual Joint Convention in Amelia Island in June 2024. On July 1, 2024 the Mid-Atlantic Bankers Association was ofcially formed, merging the MBA and VBA into a two-state enterprise through the Holding Company that enhances industry advocacy and member services in both states and with the D.C. Bankers Association we partnered to form in 2023. Over the last year, the benets of our merger have already become evident, and it has reinforced the strength of the broader banking community. It has been a powerful reminder that when we open our doors wider, we all benet.As with any merger – and while the integration has gone well – we did encounter some unexpected challenges, and I’m pleased to report that the leadership team stepped up in a meaningful way to address them head on. One particular challenge related to the departure of the former MBA President & CEO, which led to a CEO search and the hiring of Tisha Edwards as the new MBA president and CEO. We're pleased to have her on board as a key member of the leadership team.This past fall, key stakeholders took part in developing the 2025-2027 MBA/VBA Strategic plan, rening our vision and aligning our efforts to ensure that the new two-state enterprise remains a forward-thinking, member-driven organization. We focused on how to better serve our members, how to adapt to a rapidly changing nancial landscape, and how to ensure that our advocacy, education, and leadership development programs remain second to none. As VBA Chairman, I was honored to co-host an Unbanked Symposium with Delegate Mike Jones in August 2024 to discuss access to credit, capital and general banking services and products in a LMI neighborhood in south Richmond. Again, the VBA brought great support to this event, and it stands as a model for what we can accomplish collectively through our outstanding association.This year tested our ability to be exible and nimble - and I’m proud of how we rose to the occasion. We successfully redeployed the VBA/VA Chamber Financial Forecast, as a virtual event, in January following a water crisis in Richmond. This event is a cornerstone of our calendar, and thanks to your support and the exibility of the VBA team, we were able to “pivot” and deliver the content in an effective way. This adaptability is a testament to the strength of our association and the commitment of our members.We saw record-breaking participation at the VBA/ABA Washington Summit this spring. Your presence and advocacy made a real impact and sent a clear message to our elected ofcials: Virginia bankers are informed, engaged, and united in our mission to support our communities and economy.I am so thankful for the incredible support I’ve been shown throughout my time as Chairman. From our interactions at VBA events to the warm welcomes I received at regional legislative meetings and bank visits with Bruce, I’ve been continually inspired by Virginia bankers’ passion and dedication. These visits gave me the opportunity to hear directly from you - about your challenges, your successes, and your hopes for the future of banking in Virginia. As we look ahead, I’m condent that the VBA and banking in Virginia is stronger than ever. Together, we’ve built momentum, deepened our connections, and reafrmed our shared commitment to excellence. Thank you for your trust, your engagement, and your unwavering support. Let’s continue to lead with purpose, adapt with courage, and serve with heart. Here’s to another outstanding year ahead.CHAIRMAN’S REFLECTIONS Victor was installed as the 2024-2025 VBA Chairman on June 4, 2024 at the MBA|VBA Joint Convention in Amelia Island, Florida.Victor attended the 2024 State Legislative Meetings in Richmond and Roanoke.Victor joined nearly 100 Virginia bankers at the 2025 VBA/ABA Washington Summit and led discussions with legislators and legislative staff. Victor joined the VBA staff for breakfast in August 2024 at the VBA ofce in Glen Allen.Victor introduced Tom Barkin, Federal Reserve Bank of Richmond President & CEO, during the virtual VBA/VA Chamber Financial Forecast in January 2025.Victor co-hosted an Unbanked Symposium with Delegate Mike Jones in August 2024 to discuss access to credit, capital and general banking services and products in a LMI neighborhood in south Richmond.Victor joined bankers at the VBA ofce in Glen Allen in October for a conversation with Congressman Rob Wittman ahead of the 2024 elections.Victor presided alongside Janet Currie, Bank of America, at the MBA|VBA Joint Convention at The Ritz-Carlton, Naples, Florida in June 2025.
8 92025 MBA|VBA JOINT CONVENTION | vabankers.orgJOINTCONVENTIONMBA/VBA2025 MBA|VBA JOINT CONVENTION We Are Invested in Your SuccessExpert CPAs providing audit & advisory solutions for financial institutions.YHBcpa.comOur Expertise:Internal AuditExternal AuditCompliance AuditIT Controls & GovernanceTax Services• • • • •Nearly 460 bankers and industry partners joined us June 22-25 at The Ritz-Carlton, Naples, Florida, for the second annual MBA|VBA Joint Convention. Attendees enjoyed business sessions as well as social and networking events during their time in Naples. The event began Sunday with a Welcome Reception sponsored by Investors Title Insurance Company. During Monday’s General Session, attendees enjoyed a breakfast session on the U.S. macro economy, sponsored by FHN Financial. John Asbury, Atlantic Union Bankshares and 2024-2025 ABA Chair, and Rob Nichols, American Bankers Association, joined DeMarion Johnston, VBA, for a conversation on Inside Washington: ABA’s Advocacy in Action. Monday’s breakout sessions included: • Acquisition vs. Retention: Balancing Growth and Loyalty Sponsored by Rivel Banking Research • Winning Combination: Strategy, Culture, and Process Improvement Sponsored by Prot Resources, Inc. • Thrive in ’25: Becoming a Smarter Bank by Leveraging AI and Technology in a Competitive Climate Sponsored by Cornerstone Advisors • The Bank M&A Marketplace: What’s Changed… and What Hasn’t Sponsored by Olsen Palmer LLC This year’s Spouse/Guest Program: Explore the Shore was sponsored by Virginia Housing. The Golf Tournament, sponsored by KlariVis, was held Monday afternoon at the Tiburón Golf Club and a dessert reception was held Monday evening, sponsored by Piper Sandler.Tuesday’s General Session featured Anton Korinek and his session, The AI Take-off: Implications for Business, the Economy, and the Future of Society. The General Session wrapped up with Green Beret Commander Mark Nutsch and his session, 12 Strong: An Extraordinary Mission of Commitment, Purpose, Heroism and Hope, sponsored by Bearing Insurance.The Convention came to an end with Tuesday evening’s closing reception, sponsored by Marsh & McLennan Agency LLC, SageView, VBA Benets Corp., VOYA and Williams Mullen, and dinner and entertainment, sponsored by FHLBank Atlanta.A special thank you to 2024-2025 VBA Chairman Victor Branch, Bank of America, for presiding over the event alongside Janet Currie, Bank of America and 2024-2025 MBA Chair.The VBA Past Chairmen & Presidents’ Dinner was held on Sunday night during Convention. VIRGINIA BANKING ANNUAL | 2024-2025 | 2025 MBA|VBA JOINT CONVENTION2024-2025 VBA Chairman Victor Branch, 2025-2026 VBA Chairman Tom Cherry and 2025-2026 Chairman-Elect Sherri Sackett after Tuesday morning’s VBA Annual Business Meeting.Jen Wagner and Stacey Bryant, breakout session speakers with VBA Endorsed Provider Cornerstone Advisors, with VBA VP of Industry Partnerships Amy Binns.The MBA and VBA staff during Tuesday evening’s closing reception and dinner. 2024-2025 MBA Chair Janet Currie presided over the event with 2024-2025 VBA Chairman Victor Branch.Sophia Kearney-Lederman, FHN Financial, presented on U.S. macro economy during Monday morning’s General Session.2024-2025 VBA Chairman Victor Branch reected on his time as chairman during Tuesday morning’s VBA Annual Business Meeting.Tom Cherry, C&F Bank, was installed as 2025-2026 VBA Chairman during Tuesday morning’s VBA Annual Business Meeting.Nearly 460 attendees joined us for the 2025 MBA|VBA Joint Convention and lled the General Session rooms on Monday and Tuesday mornings. Anton Korinek, Darden School of Business at the University of Virginia, during his session, The AI Take-off: Implications for Business, the Economy, and the Future of Society.This year’s Golf Tournament featured a golf air cannon, sponsored by Banc Card of America.Mark Nutsch, Green Beret Commander, provided a powerful keynote session, 12 Strong: An Extraordinary Mission of Commitment, Purpose, Heroism and Hope to wrap up Tuesday’s General Session.VBA General Counsel DeMarion Johnston (center) was joined by ABA President & CEO Rob Nichols (left) and 2024-2025 ABA Chairman John Asbury (right), Atlantic Union Bankshares, on Monday morning for a conversation on Inside Washington: ABA’s Advocacy in Action.Attendees enjoyed a photo booth, sponsored by College Ave, during the Tuesday night dinner.
8 92025 MBA|VBA JOINT CONVENTION | vabankers.orgJOINTCONVENTIONMBA/VBA2025 MBA|VBA JOINT CONVENTION We Are Invested in Your SuccessExpert CPAs providing audit & advisory solutions for financial institutions.YHBcpa.comOur Expertise:Internal AuditExternal AuditCompliance AuditIT Controls & GovernanceTax Services• • • • •Nearly 460 bankers and industry partners joined us June 22-25 at The Ritz-Carlton, Naples, Florida, for the second annual MBA|VBA Joint Convention. Attendees enjoyed business sessions as well as social and networking events during their time in Naples. The event began Sunday with a Welcome Reception sponsored by Investors Title Insurance Company. During Monday’s General Session, attendees enjoyed a breakfast session on the U.S. macro economy, sponsored by FHN Financial. John Asbury, Atlantic Union Bankshares and 2024-2025 ABA Chair, and Rob Nichols, American Bankers Association, joined DeMarion Johnston, VBA, for a conversation on Inside Washington: ABA’s Advocacy in Action. Monday’s breakout sessions included: • Acquisition vs. Retention: Balancing Growth and Loyalty Sponsored by Rivel Banking Research • Winning Combination: Strategy, Culture, and Process Improvement Sponsored by Prot Resources, Inc. • Thrive in ’25: Becoming a Smarter Bank by Leveraging AI and Technology in a Competitive Climate Sponsored by Cornerstone Advisors • The Bank M&A Marketplace: What’s Changed… and What Hasn’t Sponsored by Olsen Palmer LLC This year’s Spouse/Guest Program: Explore the Shore was sponsored by Virginia Housing. The Golf Tournament, sponsored by KlariVis, was held Monday afternoon at the Tiburón Golf Club and a dessert reception was held Monday evening, sponsored by Piper Sandler.Tuesday’s General Session featured Anton Korinek and his session, The AI Take-off: Implications for Business, the Economy, and the Future of Society. The General Session wrapped up with Green Beret Commander Mark Nutsch and his session, 12 Strong: An Extraordinary Mission of Commitment, Purpose, Heroism and Hope, sponsored by Bearing Insurance.The Convention came to an end with Tuesday evening’s closing reception, sponsored by Marsh & McLennan Agency LLC, SageView, VBA Benets Corp., VOYA and Williams Mullen, and dinner and entertainment, sponsored by FHLBank Atlanta.A special thank you to 2024-2025 VBA Chairman Victor Branch, Bank of America, for presiding over the event alongside Janet Currie, Bank of America and 2024-2025 MBA Chair.The VBA Past Chairmen & Presidents’ Dinner was held on Sunday night during Convention. VIRGINIA BANKING ANNUAL | 2024-2025 | 2025 MBA|VBA JOINT CONVENTION2024-2025 VBA Chairman Victor Branch, 2025-2026 VBA Chairman Tom Cherry and 2025-2026 Chairman-Elect Sherri Sackett after Tuesday morning’s VBA Annual Business Meeting.Jen Wagner and Stacey Bryant, breakout session speakers with VBA Endorsed Provider Cornerstone Advisors, with VBA VP of Industry Partnerships Amy Binns.The MBA and VBA staff during Tuesday evening’s closing reception and dinner. 2024-2025 MBA Chair Janet Currie presided over the event with 2024-2025 VBA Chairman Victor Branch.Sophia Kearney-Lederman, FHN Financial, presented on U.S. macro economy during Monday morning’s General Session.2024-2025 VBA Chairman Victor Branch reected on his time as chairman during Tuesday morning’s VBA Annual Business Meeting.Tom Cherry, C&F Bank, was installed as 2025-2026 VBA Chairman during Tuesday morning’s VBA Annual Business Meeting.Nearly 460 attendees joined us for the 2025 MBA|VBA Joint Convention and lled the General Session rooms on Monday and Tuesday mornings. Anton Korinek, Darden School of Business at the University of Virginia, during his session, The AI Take-off: Implications for Business, the Economy, and the Future of Society.This year’s Golf Tournament featured a golf air cannon, sponsored by Banc Card of America.Mark Nutsch, Green Beret Commander, provided a powerful keynote session, 12 Strong: An Extraordinary Mission of Commitment, Purpose, Heroism and Hope to wrap up Tuesday’s General Session.VBA General Counsel DeMarion Johnston (center) was joined by ABA President & CEO Rob Nichols (left) and 2024-2025 ABA Chairman John Asbury (right), Atlantic Union Bankshares, on Monday morning for a conversation on Inside Washington: ABA’s Advocacy in Action.Attendees enjoyed a photo booth, sponsored by College Ave, during the Tuesday night dinner.
10 11UNITY AMID UNCERTAINTYMatt BruningEXECUTIVE VICE PRESIDENT, GOVERNMENT & MEMBER RELATIONSVIRGINIA BANKERS ASSOCIATIONThe past year has been busy for government relations on the policy and political fronts, as VBA continues to serve as the unied voice for the Virginia banking industry. Through lobbying and grassroots efforts, the association and our members have collectively advocated for policies that support the banking industry, while adapting to state and federal changes.New President & Virginia Congressional Representatives – Opportunities & Challenges AwaitImmediately upon taking ofce, President Donald J. Trump went to work on reversing the Biden Administration’s regulatory overreach – working with Congress and signing Executive Orders to rescind pending rulemaking by former CFPB Director Rohit Chopra, restructuring regulatory agencies with new leaders committed to rational and tailored oversight, and shaping broader economic issues from taxes to tariffs.The evolving and complex regulatory and economic landscape requires balancing growth opportunities with ongoing regulatory and economic uncertainty.The election also ushered in three new Virginia congressional members – Representatives McGuire, Vindman and Subramanyam. Our annual VBA/ABA Washington Summit provided a platform for industry leaders to engage directly with Virginia’s federal policymakers, discuss pressing banking issues, and advocate for regulatory relief – like, fair competition with non-bank organizations and capital investment in rural and underserved communities.Speaking of opportunities, we are grateful to the bankers who participated in our grassroots efforts on behalf of the industry – which played a key role in reversing the CFPB’s overdraft rule and preventing additional restrictions to the payments space. Virginia General Assembly – Water Crisis Doesn’t Stop Flow of VBA AdvocacyVBA’s pre-session state legislative meetings facilitated valuable dialogue between bankers and elected ofcials, strengthened relationships and provided industry insights. While our January VBA Banker Day was canceled – along with the start of the 2025 Virginia General Assembly Session – due to water system failures in Richmond, hundreds of bankers mobilized through our advocacy campaign, urging their state legislators to support VBA’s key legislative positions. Your advocacy, especially in opposing the latest misguided efforts by the credit unions to expand their powers – proved instrumental in securing favorable legislative outcomes. These connections are vital, especially with the recent inux of dozens of new Delegates and Senators, and the divided government under Republican Governor Glenn Youngkin and the Democratic-controlled legislature – as it has created uncertainty on how banking legislation would fare. Despite these challenges, this year VBA secured new state-level penalties for mail theft, a crucial step in combating the proliferation of check fraud, blocked credit unions from holding public deposits and prevented government interference in the bank-customer relationship under the guise of “debanking”. Additionally, we advocated for a $2.5 million injection to the Virginia Community Development Financial Institution Fund. Many of these priorities were introduced during our fall regional meetings with legislators, underscoring the value of early and repeated legislative engagement. VBA BankPAC – Fundraising Goal Surpassed, Showcasing Strength of Industry’s VoiceThe 2024 VBA BankPAC campaign surpassed its fundraising goal, collecting more than $437,000 through individual, director, and corporate contributions. Thanks to the strong efforts of VBA members, we have access to the resources we need to support pro-banking candidates and ensure our voice is heard!These resources will be especially important as Virginia prepares for the November 2025 election, as all 100 House of Delegates seats and three statewide ofces are up for election. This is likely to lead to new Delegate-Elects and statewide-elects that VBA will need to build relationships with and educate about the banking industry. The grassroots engagement of the industry underpins our success over the last year, and we know bankers will continue to actively support those efforts going forward.LEGISLATIVE UPDATE | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | GOVERNMENT RELATIONS2024 VBA BankPACCAMPAIGNRESULTS• Atlantic Union Bank• Bank of America, NA• Bank of Botetourt• Bank of Clarke• Bank of the James• Benchmark Community Bank • Blue Ridge Bank• Burke & Herbert Bank• C&F Bank• Capital One, NA• Carter Bank• Chain Bridge Bank• Chesapeake Bank• Citizens Bank & Trust Company• City National Bank• Community Bankers’ Bank• CornerStone Bank• Dollar Bank• First Bank & Trust Co.• First Bank, Virginia• First Carolina Bank• First Community Bank• First National Bank • Freedom Bank of Virginia • Fulton Bank• John Marshall Bank• Lee Bank & Trust • MainStreet Bank• M&T Bank• National Bank• National Capital Bank• New Peoples Bank• Old Point National Bank• PNC Bank• Powell Valley National Bank• Primis Bank• Shore United Bank• Skyline National Bank• SouthState Bank• Southern Bank and Trust Company• The Bank of Charlotte County• The Bank of Marion• The Bank of Southside Virginia• The Farmers Bank of Appomattox • Touchstone Bank• TowneBank• Truist Bank• TruPoint Bank• United Bank• Village Bank• Virginia Bankers Association• Virginia National Bank• Wells Fargo Bank, NATHANK YOU TO THE FOLLOWING BANKS FOR THEIR SUPPORT OF THE 2024 VBA BANKPAC CAMPAIGN: The banking industry’s role in maintaining a steady economic environment for communities and businesses highlights the importance of strong continued advocacy efforts at both the state and federal level. As the unied voice of the industry in the political arena, VBA BankPAC is crucial to facilitating those advocacy efforts. As a result of your generous contributions, our industry has a seat at the table at the Capitol in both Washington D.C. and Richmond when important policy decisions impacting the daily operations and nancial results of your institutions are being made.Total Amount Raised: $437,00093452Total Number of Bank Contributors Total Number of Individual and Director Contributors 2024 VBA BankPAC by the Numbers:For a full series recap, please visit www.vabankers.org/post/2024-state-legislative-meetings-recap. These included messages to block credit union expansion, nullify the CFPB’s overreach on overdraft, and oppose the 10 Percent Credit Card Interest Rate Cap Act. BANKERS515MESSAGES926 SENT to their state and federal elected representatives on VBA priorities.Calls to ActionRICHMOND65VIRGINIA BEACH 41MCLEAN69ABINGDON18ROANOKE25HARRISONBURG32TOTAL STATEWIDE ATTENDANCE250VBA StateLegislative Meetings2024 ATTENDANCE
10 11UNITY AMID UNCERTAINTYMatt BruningEXECUTIVE VICE PRESIDENT, GOVERNMENT & MEMBER RELATIONSVIRGINIA BANKERS ASSOCIATIONThe past year has been busy for government relations on the policy and political fronts, as VBA continues to serve as the unied voice for the Virginia banking industry. Through lobbying and grassroots efforts, the association and our members have collectively advocated for policies that support the banking industry, while adapting to state and federal changes.New President & Virginia Congressional Representatives – Opportunities & Challenges AwaitImmediately upon taking ofce, President Donald J. Trump went to work on reversing the Biden Administration’s regulatory overreach – working with Congress and signing Executive Orders to rescind pending rulemaking by former CFPB Director Rohit Chopra, restructuring regulatory agencies with new leaders committed to rational and tailored oversight, and shaping broader economic issues from taxes to tariffs.The evolving and complex regulatory and economic landscape requires balancing growth opportunities with ongoing regulatory and economic uncertainty.The election also ushered in three new Virginia congressional members – Representatives McGuire, Vindman and Subramanyam. Our annual VBA/ABA Washington Summit provided a platform for industry leaders to engage directly with Virginia’s federal policymakers, discuss pressing banking issues, and advocate for regulatory relief – like, fair competition with non-bank organizations and capital investment in rural and underserved communities.Speaking of opportunities, we are grateful to the bankers who participated in our grassroots efforts on behalf of the industry – which played a key role in reversing the CFPB’s overdraft rule and preventing additional restrictions to the payments space. Virginia General Assembly – Water Crisis Doesn’t Stop Flow of VBA AdvocacyVBA’s pre-session state legislative meetings facilitated valuable dialogue between bankers and elected ofcials, strengthened relationships and provided industry insights. While our January VBA Banker Day was canceled – along with the start of the 2025 Virginia General Assembly Session – due to water system failures in Richmond, hundreds of bankers mobilized through our advocacy campaign, urging their state legislators to support VBA’s key legislative positions. Your advocacy, especially in opposing the latest misguided efforts by the credit unions to expand their powers – proved instrumental in securing favorable legislative outcomes. These connections are vital, especially with the recent inux of dozens of new Delegates and Senators, and the divided government under Republican Governor Glenn Youngkin and the Democratic-controlled legislature – as it has created uncertainty on how banking legislation would fare. Despite these challenges, this year VBA secured new state-level penalties for mail theft, a crucial step in combating the proliferation of check fraud, blocked credit unions from holding public deposits and prevented government interference in the bank-customer relationship under the guise of “debanking”. Additionally, we advocated for a $2.5 million injection to the Virginia Community Development Financial Institution Fund. Many of these priorities were introduced during our fall regional meetings with legislators, underscoring the value of early and repeated legislative engagement. VBA BankPAC – Fundraising Goal Surpassed, Showcasing Strength of Industry’s VoiceThe 2024 VBA BankPAC campaign surpassed its fundraising goal, collecting more than $437,000 through individual, director, and corporate contributions. Thanks to the strong efforts of VBA members, we have access to the resources we need to support pro-banking candidates and ensure our voice is heard!These resources will be especially important as Virginia prepares for the November 2025 election, as all 100 House of Delegates seats and three statewide ofces are up for election. This is likely to lead to new Delegate-Elects and statewide-elects that VBA will need to build relationships with and educate about the banking industry. The grassroots engagement of the industry underpins our success over the last year, and we know bankers will continue to actively support those efforts going forward.LEGISLATIVE UPDATE | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | GOVERNMENT RELATIONS2024 VBA BankPACCAMPAIGNRESULTS• Atlantic Union Bank• Bank of America, NA• Bank of Botetourt• Bank of Clarke• Bank of the James• Benchmark Community Bank • Blue Ridge Bank• Burke & Herbert Bank• C&F Bank• Capital One, NA• Carter Bank• Chain Bridge Bank• Chesapeake Bank• Citizens Bank & Trust Company• City National Bank• Community Bankers’ Bank• CornerStone Bank• Dollar Bank• First Bank & Trust Co.• First Bank, Virginia• First Carolina Bank• First Community Bank• First National Bank • Freedom Bank of Virginia • Fulton Bank• John Marshall Bank• Lee Bank & Trust • MainStreet Bank• M&T Bank• National Bank• National Capital Bank• New Peoples Bank• Old Point National Bank• PNC Bank• Powell Valley National Bank• Primis Bank• Shore United Bank• Skyline National Bank• SouthState Bank• Southern Bank and Trust Company• The Bank of Charlotte County• The Bank of Marion• The Bank of Southside Virginia• The Farmers Bank of Appomattox • Touchstone Bank• TowneBank• Truist Bank• TruPoint Bank• United Bank• Village Bank• Virginia Bankers Association• Virginia National Bank• Wells Fargo Bank, NATHANK YOU TO THE FOLLOWING BANKS FOR THEIR SUPPORT OF THE 2024 VBA BANKPAC CAMPAIGN: The banking industry’s role in maintaining a steady economic environment for communities and businesses highlights the importance of strong continued advocacy efforts at both the state and federal level. As the unied voice of the industry in the political arena, VBA BankPAC is crucial to facilitating those advocacy efforts. As a result of your generous contributions, our industry has a seat at the table at the Capitol in both Washington D.C. and Richmond when important policy decisions impacting the daily operations and nancial results of your institutions are being made.Total Amount Raised: $437,00093452Total Number of Bank Contributors Total Number of Individual and Director Contributors 2024 VBA BankPAC by the Numbers:For a full series recap, please visit www.vabankers.org/post/2024-state-legislative-meetings-recap. These included messages to block credit union expansion, nullify the CFPB’s overreach on overdraft, and oppose the 10 Percent Credit Card Interest Rate Cap Act. BANKERS515MESSAGES926 SENT to their state and federal elected representatives on VBA priorities.Calls to ActionRICHMOND65VIRGINIA BEACH 41MCLEAN69ABINGDON18ROANOKE25HARRISONBURG32TOTAL STATEWIDE ATTENDANCE250VBA StateLegislative Meetings2024 ATTENDANCE
12 13DISTRICT MATTERS: ELEVATING THE VOICE OF D.C. BANKSJanene D. JacksonPRESIDENT D.C. BANKERS ASSOCIATIONGOVERNMENT RELATIONS | vabankers.org2025 Washington Summit EMERGING BANK LEADERS SCHOLARSHIP RECIPIENTS Congratulations to the 2025 VBA/ABA Washington Summit Emerging Leaders Scholarship Recipients (pictured left to right): Kevin Hill, Chesapeake Bank; Tyler Carter, Carter Bank; Jennifer Grant, TowneBank; Kate Belcher, Skyline National Bank; Eboni Lee, Benchmark Community Bank; and Tracey Jenkins, First Bank, Virginia.Get to know the 2025 scholarship recipients by visiting www.vabankers.org/internal-links/get-know-2025-washington-summit-ebl- scholarship-recipients. VIRGINIA BANKING ANNUAL | 2024-2025 | D.C. BANKERS ASSOCIATIONA little less than two years ago, the D.C. Bankers Association (DCBA) hit the ground running toward its goal of being the voice of the District of Columbia banking community. As president of the DCBA, it has been a wonderful year leading the association alongside DCBA Chair Jonathan (Jon) Higgins, co-founder, president and chief banking ofcer of Founders Bank, a Washington, D.C. based community bank. On the members’ behalf, the DCBA focuses on legislative and regulatory efforts, especially with the Council of the District of Columbia (Council), Executive Ofce of the Mayor (EOM), Deputy Mayor for Economic Development (DMPED), and the Department of Insurance, Securities and Banking (DISB).It is my pleasure to work closely with the DCBA Advisory Board, which provides general oversight of DCBA, and the DCBA Advocacy Committee, which meets monthly and works closely with me on all issues in D.C. government that affect banking. Frequent topics of discussion include the state of the District’s budget, agency oversight hearings, election updates, and other legislative updates on topics of interest to D.C. banks. Many of the DCBA meetings have included guest speakers, such as Banking Commissioner Karima Woods and At- Large Councilmember Kenyan McDufe. This year, Patrick “Buzz” Guida from the DC Uniform Law Commission also joined the Advocacy Committee for an overview of his organization and provided background and an update on “Bill 26-32, Uniform Special Deposits Act of 2025”.A special meeting of the Advisory Board and Advocacy Committee was held in January, at a pivotal point in DC before the inauguration, when we welcomed ABA President & CEO Rob Nichols for a reside chat with Bruce Whitehurst. Rob shared his thoughts on what the change in administration would do for business, operations, and the regulatory environment for banks. He also discussed President Trump’s appointments for nancial positions, tax legislation and opportunities for use of the Congressional Review Act. During that same meeting, the group heard an update from the Federal Reserve Bank of Richmond’s president and CEO, Tom Barkin, and Andy Bauer, vice president & regional executive, research. Tom and Andy also engaged in a roundtable dialogue with the DCBA members.We have shared our expertise and knowledge with DISB as it worked on draft legislation that would prevent the nancial exploitation of senior citizens. Our advocacy has included opposing the Fair Swipes Act of 2025 (Interchange Fee bill) and supporting the Rebalancing Expectations for Neighbors, Tenants, and Landlords (RENTAL) Act of 2025. And with Bill 25-225, Uniform Directed Trust Act of 2023, we were able to help successfully put into law a third option for terminating trusts. One of my favorite moments of the year was representing DCBA on a panel discussion for an event DISB hosted to celebrate Women’s History Month, which they organized for their employees and partners from the District of Columbia Department of Licensing and Consumer Protection. The conversation, moderated by Commissioner Karima Woods, shed light on the important contributions of women in nancial regulation, enforcement, and consumer protection, while also tackling the evolving challenges and opportunities in these industries. I appreciated this opportunity to share my thoughts alongside the other panelists including Tiffany Crowe, Director, DLCP, and Kristen Hutchens, Director of Policy and Government Affairs, NASAA. It has been an interesting time in the District over the last year, with no shortage of things to discuss with our DCBA members!2025 VBA/ABA WASHINGTON SUMMITMore than 1,200 bankers from across the country attended the VBA/ABA Washington Summit April 7-9, with nearly 100 attendees from Virginia. Summit attendees heard from public ofcials and issue experts on the status of the nation’s economy and banking system. Virginia bankers met with Senators Mark Warner and Tim Kaine as well as Congressmen John McGuire, Ben Cline and Don Beyer and House of Representatives staff members to discuss issues including overdraft, section 1071, ACRE and credit union oversight. A special thank you to FHLBank Atlanta for hosting our joint reception with the Maryland Bankers Association and D.C. Bankers Association on Tuesday night during the Summit.For a full event recap, please visit www.vabankers.org/post/2025-vbaaba-washington-summit-recap.
12 13DISTRICT MATTERS: ELEVATING THE VOICE OF D.C. BANKSJanene D. JacksonPRESIDENT D.C. BANKERS ASSOCIATIONGOVERNMENT RELATIONS | vabankers.org2025 Washington Summit EMERGING BANK LEADERS SCHOLARSHIP RECIPIENTS Congratulations to the 2025 VBA/ABA Washington Summit Emerging Leaders Scholarship Recipients (pictured left to right): Kevin Hill, Chesapeake Bank; Tyler Carter, Carter Bank; Jennifer Grant, TowneBank; Kate Belcher, Skyline National Bank; Eboni Lee, Benchmark Community Bank; and Tracey Jenkins, First Bank, Virginia.Get to know the 2025 scholarship recipients by visiting www.vabankers.org/internal-links/get-know-2025-washington-summit-ebl- scholarship-recipients. VIRGINIA BANKING ANNUAL | 2024-2025 | D.C. BANKERS ASSOCIATIONA little less than two years ago, the D.C. Bankers Association (DCBA) hit the ground running toward its goal of being the voice of the District of Columbia banking community. As president of the DCBA, it has been a wonderful year leading the association alongside DCBA Chair Jonathan (Jon) Higgins, co-founder, president and chief banking ofcer of Founders Bank, a Washington, D.C. based community bank. On the members’ behalf, the DCBA focuses on legislative and regulatory efforts, especially with the Council of the District of Columbia (Council), Executive Ofce of the Mayor (EOM), Deputy Mayor for Economic Development (DMPED), and the Department of Insurance, Securities and Banking (DISB).It is my pleasure to work closely with the DCBA Advisory Board, which provides general oversight of DCBA, and the DCBA Advocacy Committee, which meets monthly and works closely with me on all issues in D.C. government that affect banking. Frequent topics of discussion include the state of the District’s budget, agency oversight hearings, election updates, and other legislative updates on topics of interest to D.C. banks. Many of the DCBA meetings have included guest speakers, such as Banking Commissioner Karima Woods and At- Large Councilmember Kenyan McDufe. This year, Patrick “Buzz” Guida from the DC Uniform Law Commission also joined the Advocacy Committee for an overview of his organization and provided background and an update on “Bill 26-32, Uniform Special Deposits Act of 2025”.A special meeting of the Advisory Board and Advocacy Committee was held in January, at a pivotal point in DC before the inauguration, when we welcomed ABA President & CEO Rob Nichols for a reside chat with Bruce Whitehurst. Rob shared his thoughts on what the change in administration would do for business, operations, and the regulatory environment for banks. He also discussed President Trump’s appointments for nancial positions, tax legislation and opportunities for use of the Congressional Review Act. During that same meeting, the group heard an update from the Federal Reserve Bank of Richmond’s president and CEO, Tom Barkin, and Andy Bauer, vice president & regional executive, research. Tom and Andy also engaged in a roundtable dialogue with the DCBA members.We have shared our expertise and knowledge with DISB as it worked on draft legislation that would prevent the nancial exploitation of senior citizens. Our advocacy has included opposing the Fair Swipes Act of 2025 (Interchange Fee bill) and supporting the Rebalancing Expectations for Neighbors, Tenants, and Landlords (RENTAL) Act of 2025. And with Bill 25-225, Uniform Directed Trust Act of 2023, we were able to help successfully put into law a third option for terminating trusts. One of my favorite moments of the year was representing DCBA on a panel discussion for an event DISB hosted to celebrate Women’s History Month, which they organized for their employees and partners from the District of Columbia Department of Licensing and Consumer Protection. The conversation, moderated by Commissioner Karima Woods, shed light on the important contributions of women in nancial regulation, enforcement, and consumer protection, while also tackling the evolving challenges and opportunities in these industries. I appreciated this opportunity to share my thoughts alongside the other panelists including Tiffany Crowe, Director, DLCP, and Kristen Hutchens, Director of Policy and Government Affairs, NASAA. It has been an interesting time in the District over the last year, with no shortage of things to discuss with our DCBA members!2025 VBA/ABA WASHINGTON SUMMITMore than 1,200 bankers from across the country attended the VBA/ABA Washington Summit April 7-9, with nearly 100 attendees from Virginia. Summit attendees heard from public ofcials and issue experts on the status of the nation’s economy and banking system. Virginia bankers met with Senators Mark Warner and Tim Kaine as well as Congressmen John McGuire, Ben Cline and Don Beyer and House of Representatives staff members to discuss issues including overdraft, section 1071, ACRE and credit union oversight. A special thank you to FHLBank Atlanta for hosting our joint reception with the Maryland Bankers Association and D.C. Bankers Association on Tuesday night during the Summit.For a full event recap, please visit www.vabankers.org/post/2025-vbaaba-washington-summit-recap.
14 15The VBA year is not a calendar year but runs from our Annual Meeting in June to the following June. Thus, the year is two, one-half years. If the legal and regulatory climate for banking in the 2024-2025 VBA year were an animal, it would be the ancient Greek Chimera, an amalgamation that to even the casual eye, doesn’t quite go together. We know the lack of harmony from 2024 to 2025 was caused by the legal and regulatory shift that occurred as the priorities and objectives of President Biden were replaced by those of President Trump. Virginia was much more consistent. I will discuss the federal sea change and what’s new in Virginia.WHAT'S OUT The regulatory spigot has been turned off by the new administration and its newly appointed regulatory agency heads. Most notably, the Consumer Financial Protection Bureau’s (“CFPB”) activist and aggressive regulatory posture has been reversed by Acting Director Russell Vought. Nearly all CFPB activities have been suspended, including pending investigations, supervision, and examinations. Effective dates have been delayed for rules that have been issued but have not yet gone into effect, and regulating through guidance has ended. The agency has announced upcoming revisions or retractions of previously issued interpretations, bulletins, circulars, and other guidance that imposed obligations outside of the Administrative Procedure Act’s (“APA”) required notice and comment process. The CFPB settled its lawsuit with plaintiffs American Bankers Association, U.S. Chamber of Commerce, and others, agreeing to vacate its $8 credit card late fee rule, and the federal judge presiding over the case entered a nal judgment vacating the same. The CFPB has also stated that it intends to revisit the onerous Dodd-Frank section 1071 small business loan data collection and reporting rule. The rule is currently paused for many banks, thanks to the U.S. Court of Appeals for the Fifth Circuit, and the CFPB is declining to enforce the rule against those who are similarly situated but not covered by the court’s stay. It is anticipated that the new rulemaking on 1071 will resolve many of the objections that the banking industry raised in its court challenge to the burdensome rule. Additionally, the CFPB has announced it will initiate a new rulemaking to pull back and reconsider its Dodd-Frank section 1033 “open banking” rule on data sharing and access.Other regulators have also reversed course. The U.S. Treasury’s Financial Crimes Enforcement Network (“FinCEN”) has issued an interim nal rule exempting U.S. companies and persons from having to report benecial ownership information under the Corporate Transparency Act (“CTA”). Foreign entities must continue to comply with the existing reporting requirements, and FinCEN anticipates it will issue a nal rule later this year.The Federal Reserve Board (“Board”), Federal Deposit Insurance Corporation (“FDIC”), and Ofce of the Comptroller of the Currency (“OCC”), have jointly announced their intention to rescind the 2023 Community Reinvestment Act (“CRA”) rule due to the ongoing litigation opposing the rule, and will reinstate the previous CRA framework in an effort to promote a consistent regulatory approach.WHAT’S INThe Board, OCC and FDIC have eased restrictions to enable banks to participate in crypto-asset activities to encourage innovation. The Board withdrew its 2022 and 2023 supervisory letters that warned banks about issuing or holding crypto-assets, imposed risk management obligations, and required formal Board preapproval before engaging in crypto activities. The Board and FDIC also announced withdrawal from two 2023 interagency statements on crypto-asset risks. In his policy priorities for the agency, FDIC Vice Chairman Travis Hill communicated that the agency will take an open-minded approach to technology and bank-ntech partnerships. Vice Chairman Hill also stated that the FDIC will foster innovation by encouraging the formation of de novo banks, which have been nearly non-existent since the nancial crisis. VIRGINIAThe General Assembly passed two laws in the 2025 Session that will directly impact banking. Virginia now has a state-level crime of mail theft, punishable as a Class 6 felony, which carries the penalty of possible imprisonment for up to ve years and/or a ne not to exceed $2,500. Previously, there was only a federal-level crime for any person who knowingly or willfully takes, destroys, hides, embezzles, obtains by fraud or deception any mail or any mailbox key; or possesses a counterfeit device or key designed to provide mailbox access; or damages, opens, removes, injures, vandalizes, or destroys any mail receptacle. This legislation will serve as a deterrent to would-be mail thieves, will give power to the local police to make arrests, and should meaningfully reduce the number of checks stolen through mail theft.Another new piece of legislation establishes a procedure for the seizure of property, including funds in a bank account, used in connection with or derived from the nancial exploitation of vulnerable adults, which includes older adults. The seizure action may be commenced by a Commonwealth’s attorney or by a guardian, adult protective agent, or representative of the vulnerable adult. The purpose of this law is to enable prosecutors or other interested persons to seize funds that have been taken from a vulnerable adult via nancial abuse, and to return those funds to the victim. Property seized in the course of the investigation or prosecution for an adult nancial abuse offense will be returned to the vulnerable adult upon a plea of guilty or a nding of facts sufcient for guilt for a violation of abuse.The heavy-handed regulatory environment that previously preoccupied much industry attention and efforts has subsided. The recent rhetoric and actions of banking regulators, which indicate a return to focusing on bank safety and soundness, regulatory tailoring, transparency in rulemaking, and encouraging innovation, are very positive for the banking industry. These changes, combined with the new Virginia laws to ght check fraud and adult nancial abuse create space for banks to focus energy on enhancing operations, products and services, and support a positive outlook for Virginia banking in the year ahead. LEGAL LINE:TURN OF THE TIDEDeMarion Johnston GENERAL COUNSEL & CORPORATE SECRETARYMID-ATLANTIC BANKERS ASSOCIATION & VIRGINIA BANKERS ASSOCIATIONLEGAL LINE | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | LEGAL & REGULATORYSOURCES: American Bankers Association. “Court Vacates CFPB Credit Card Late Fee Rule.” April 2025.https://bankingjournal.aba.com/2025/04/court-vacates-cfpb-credit-card-late-fee-rule/Federal Register. “Benecial Ownership Information Reporting Requirement; Revision and Deadline Extension.” March 26, 2025.https://www.federalregister.gov/documents/2025/03/26/2025-05199/benecial-ownership-information-reporting-requirement-revision-and-deadline-extension Ofce of the Comptroller of the Currency. “Community Reinvestment Act: Final Rule.” Bulletin 2025-5. https://www.occ.gov/news-issuances/bulletins/2025/bulletin-2025-5.html Board of Governors of the Federal Reserve System. Press Release on Banking Regulation Changes. April 24, 2025.(PDF access may require internal viewing)https://www.federalreserve.gov/newsevents/pressreleases/les/bcreg20250424a1.pdf Code of Virginia:§ 18.2-110.1 – Computer destruction of property §§ 19.2-386.5 and 19.2-386.36 – Asset forfeiture proceduresThe regulatory spigot has been turned off by the new administration and its newly appointed regulatory agency heads.
14 15The VBA year is not a calendar year but runs from our Annual Meeting in June to the following June. Thus, the year is two, one-half years. If the legal and regulatory climate for banking in the 2024-2025 VBA year were an animal, it would be the ancient Greek Chimera, an amalgamation that to even the casual eye, doesn’t quite go together. We know the lack of harmony from 2024 to 2025 was caused by the legal and regulatory shift that occurred as the priorities and objectives of President Biden were replaced by those of President Trump. Virginia was much more consistent. I will discuss the federal sea change and what’s new in Virginia.WHAT'S OUT The regulatory spigot has been turned off by the new administration and its newly appointed regulatory agency heads. Most notably, the Consumer Financial Protection Bureau’s (“CFPB”) activist and aggressive regulatory posture has been reversed by Acting Director Russell Vought. Nearly all CFPB activities have been suspended, including pending investigations, supervision, and examinations. Effective dates have been delayed for rules that have been issued but have not yet gone into effect, and regulating through guidance has ended. The agency has announced upcoming revisions or retractions of previously issued interpretations, bulletins, circulars, and other guidance that imposed obligations outside of the Administrative Procedure Act’s (“APA”) required notice and comment process. The CFPB settled its lawsuit with plaintiffs American Bankers Association, U.S. Chamber of Commerce, and others, agreeing to vacate its $8 credit card late fee rule, and the federal judge presiding over the case entered a nal judgment vacating the same. The CFPB has also stated that it intends to revisit the onerous Dodd-Frank section 1071 small business loan data collection and reporting rule. The rule is currently paused for many banks, thanks to the U.S. Court of Appeals for the Fifth Circuit, and the CFPB is declining to enforce the rule against those who are similarly situated but not covered by the court’s stay. It is anticipated that the new rulemaking on 1071 will resolve many of the objections that the banking industry raised in its court challenge to the burdensome rule. Additionally, the CFPB has announced it will initiate a new rulemaking to pull back and reconsider its Dodd-Frank section 1033 “open banking” rule on data sharing and access.Other regulators have also reversed course. The U.S. Treasury’s Financial Crimes Enforcement Network (“FinCEN”) has issued an interim nal rule exempting U.S. companies and persons from having to report benecial ownership information under the Corporate Transparency Act (“CTA”). Foreign entities must continue to comply with the existing reporting requirements, and FinCEN anticipates it will issue a nal rule later this year.The Federal Reserve Board (“Board”), Federal Deposit Insurance Corporation (“FDIC”), and Ofce of the Comptroller of the Currency (“OCC”), have jointly announced their intention to rescind the 2023 Community Reinvestment Act (“CRA”) rule due to the ongoing litigation opposing the rule, and will reinstate the previous CRA framework in an effort to promote a consistent regulatory approach.WHAT’S INThe Board, OCC and FDIC have eased restrictions to enable banks to participate in crypto-asset activities to encourage innovation. The Board withdrew its 2022 and 2023 supervisory letters that warned banks about issuing or holding crypto-assets, imposed risk management obligations, and required formal Board preapproval before engaging in crypto activities. The Board and FDIC also announced withdrawal from two 2023 interagency statements on crypto-asset risks. In his policy priorities for the agency, FDIC Vice Chairman Travis Hill communicated that the agency will take an open-minded approach to technology and bank-ntech partnerships. Vice Chairman Hill also stated that the FDIC will foster innovation by encouraging the formation of de novo banks, which have been nearly non-existent since the nancial crisis. VIRGINIAThe General Assembly passed two laws in the 2025 Session that will directly impact banking. Virginia now has a state-level crime of mail theft, punishable as a Class 6 felony, which carries the penalty of possible imprisonment for up to ve years and/or a ne not to exceed $2,500. Previously, there was only a federal-level crime for any person who knowingly or willfully takes, destroys, hides, embezzles, obtains by fraud or deception any mail or any mailbox key; or possesses a counterfeit device or key designed to provide mailbox access; or damages, opens, removes, injures, vandalizes, or destroys any mail receptacle. This legislation will serve as a deterrent to would-be mail thieves, will give power to the local police to make arrests, and should meaningfully reduce the number of checks stolen through mail theft.Another new piece of legislation establishes a procedure for the seizure of property, including funds in a bank account, used in connection with or derived from the nancial exploitation of vulnerable adults, which includes older adults. The seizure action may be commenced by a Commonwealth’s attorney or by a guardian, adult protective agent, or representative of the vulnerable adult. The purpose of this law is to enable prosecutors or other interested persons to seize funds that have been taken from a vulnerable adult via nancial abuse, and to return those funds to the victim. Property seized in the course of the investigation or prosecution for an adult nancial abuse offense will be returned to the vulnerable adult upon a plea of guilty or a nding of facts sufcient for guilt for a violation of abuse.The heavy-handed regulatory environment that previously preoccupied much industry attention and efforts has subsided. The recent rhetoric and actions of banking regulators, which indicate a return to focusing on bank safety and soundness, regulatory tailoring, transparency in rulemaking, and encouraging innovation, are very positive for the banking industry. These changes, combined with the new Virginia laws to ght check fraud and adult nancial abuse create space for banks to focus energy on enhancing operations, products and services, and support a positive outlook for Virginia banking in the year ahead. LEGAL LINE:TURN OF THE TIDEDeMarion Johnston GENERAL COUNSEL & CORPORATE SECRETARYMID-ATLANTIC BANKERS ASSOCIATION & VIRGINIA BANKERS ASSOCIATIONLEGAL LINE | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | LEGAL & REGULATORYSOURCES: American Bankers Association. “Court Vacates CFPB Credit Card Late Fee Rule.” April 2025.https://bankingjournal.aba.com/2025/04/court-vacates-cfpb-credit-card-late-fee-rule/Federal Register. “Benecial Ownership Information Reporting Requirement; Revision and Deadline Extension.” March 26, 2025.https://www.federalregister.gov/documents/2025/03/26/2025-05199/benecial-ownership-information-reporting-requirement-revision-and-deadline-extension Ofce of the Comptroller of the Currency. “Community Reinvestment Act: Final Rule.” Bulletin 2025-5. https://www.occ.gov/news-issuances/bulletins/2025/bulletin-2025-5.html Board of Governors of the Federal Reserve System. Press Release on Banking Regulation Changes. April 24, 2025.(PDF access may require internal viewing)https://www.federalreserve.gov/newsevents/pressreleases/les/bcreg20250424a1.pdf Code of Virginia:§ 18.2-110.1 – Computer destruction of property §§ 19.2-386.5 and 19.2-386.36 – Asset forfeiture proceduresThe regulatory spigot has been turned off by the new administration and its newly appointed regulatory agency heads.
16 17FOR YOUR BENEFIT: BENEFITS BY DESIGN PRESIDENT & COO VBA BENEFITS CORPORATIONFOR YOUR BENEFIT | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | VBA BENEFITS CORPORATIONThe VBA Benets Corporation (VBABC) team has been diligently working over the past year to develop strategic initiatives and growth opportunities in both the retirement and health & welfare sectors. We take pride in our proactive approach to monitoring the employee benet marketplace, ensuring that we deliver premier programs to our members. These efforts are designed to help our clients attract and retain top talent by providing them with exceptional employee benets.RetirementOur Master Dened Contribution Trust has maintained strong momentum, evidenced by signicant growth in assets, enrollment and participant average balances (see below). We were also excited to announce the endorsement from the Maryland Bankers Association (MBA) Solutions Board, and we have initiated marketing efforts to reach MBA members. We continue to focus on enhancing our participant education efforts specic to our retirement plans, particularly highlighting our dedicated nancial advisor who is available to assist participants at no cost on topics that include retirement planning, Social Security, asset allocation and distribution options. In 2025, we introduced retirement success campaigns, providing personalized guidance to help participants understand their own retirement options and assist in developing effective retirement planning strategies.Health & Welfare Our primary goals with the Medical & Prescription Drug plan have been to introduce point solutions and wellness programs to curb the high ination that the healthcare industry has been experiencing over the past few years. Point solutions are specialized programs designed to address specic health issues, improve health outcomes, and reduce long-term healthcare costs. In 2025, we introduced two new point solutions:In 2025, we also introduced a new wellness platform partnership with Wellworks For You. Participating employers have access to a customized wellness program that provides health and tness tracking, biometric tracking, and incentives for their medical subscribers. The Wellworks For You platform assists members in creating a healthier workplace by motivating employees to adopt healthier lifestyles, thereby reducing healthcare claims and improving productivity. We were also pleased to introduce two new voluntary benets to allow our members to continue to provide “best in class” benet packages and saw great adoption from members: • Norton LifeLock provides comprehensive identity theft protection, credit monitoring services, and cybersecurity benets. • Total Pet Plan allows participants access to discounted pet food, products, and prescriptions.John R. CaldwellCHAIRMAN The Farmers Bank of AppomattoxMichelle R. AustinBank of BotetourtElizabeth T. BealeBenchmark Community BankThomas F. Cherry C&F BankJeffrey H. CulverCommunity Bankers' BankBarry C. Elswick TruPoint BankMelody D. EmswilerFarmers & Merchants BankJames E. Hendricks, Jr.TowneBankBrandon C. Lorey Bank of ClarkeW. Mark Nelson First Bank & Trust CompanyC. Taylor QuickeCitizens Bank & Trust Co.Lara E. RamseyNational Bank2024-2025VBA BENEFITS CORPORATION BOARD of DIRECTORSMedical & Dental Plan Trust (self-funded medical & dental coverages): • Approximately 4,800 covered employees • Approximately $59 million in premium • PPO $3500 (35% of total enrollment) and PPO $5000 (25% of total enrollment) were most popular medical plan options Group Insurance Trust (fully-insured coverages): • Approximately 5,500 covered employees • $5,134,200 million in premium2025 SnapshotA snapshot of the scope, breadth and depth of VBABC offerings.A Look Back andA LOOK AHEAD2024 End of Year StatisticsRetirement Plans:Master Dened Contribution 401(k) Trust: 40 plans and $453,000,000 in assetsMaster Dened Benet Pension Trust: 9 plans and $87,000,000 in assetsNon-Qualied Deferred Compensation: 22 plans and $92,000,000 in assetsCardiovascular health solution that monitors blood pressure and provides personalized health insightsDigital weight management and personalized coaching solution that empowers individuals to take control of their heathMEMBER BANKS ADDED NORTON LIFELOCK (389 PARTICIPANTS)MEMBER BANKS ADDED TOTALPET PLAN (198 PARTICIPANTS)42 39$50M INCREASE2% INCREASEEnrollment increased from 5,213 TO 5,317Total assets under management increased from $403 MILLION TO $453 MILLIONIMPLEMENTEDAverage participant balance ($66k in 2023)3 NEW PLANS$86KThe VBA hosted their annual Retirement Plan Conference in May for 401(k) plan sponsors and covered topics that included litigation trends, duciary training, market trends, SECURE Act, and benchmarking data.The VBA Benets Corp. held the Wellbeing Summit 2.0 in February 2025. The Summit provided information on creating a multi-year wellbeing strategy, designing an incentive plan to motivate participation among employees, new trends in the area of wellbeing, and a deep dive into the new Wellworks For You platform. Attendees also participated in a sourdough bread making workshop with Hobby Hill Farm. The VBA Benets Corp. won an Activation Award at the bswift Idea Exchange conference in April 2025. This award was presented to organizations that had the best product activation among all their clients for 2025.
16 17FOR YOUR BENEFIT: BENEFITS BY DESIGN PRESIDENT & COO VBA BENEFITS CORPORATIONFOR YOUR BENEFIT | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | VBA BENEFITS CORPORATIONThe VBA Benets Corporation (VBABC) team has been diligently working over the past year to develop strategic initiatives and growth opportunities in both the retirement and health & welfare sectors. We take pride in our proactive approach to monitoring the employee benet marketplace, ensuring that we deliver premier programs to our members. These efforts are designed to help our clients attract and retain top talent by providing them with exceptional employee benets.RetirementOur Master Dened Contribution Trust has maintained strong momentum, evidenced by signicant growth in assets, enrollment and participant average balances (see below). We were also excited to announce the endorsement from the Maryland Bankers Association (MBA) Solutions Board, and we have initiated marketing efforts to reach MBA members. We continue to focus on enhancing our participant education efforts specic to our retirement plans, particularly highlighting our dedicated nancial advisor who is available to assist participants at no cost on topics that include retirement planning, Social Security, asset allocation and distribution options. In 2025, we introduced retirement success campaigns, providing personalized guidance to help participants understand their own retirement options and assist in developing effective retirement planning strategies.Health & Welfare Our primary goals with the Medical & Prescription Drug plan have been to introduce point solutions and wellness programs to curb the high ination that the healthcare industry has been experiencing over the past few years. Point solutions are specialized programs designed to address specic health issues, improve health outcomes, and reduce long-term healthcare costs. In 2025, we introduced two new point solutions:In 2025, we also introduced a new wellness platform partnership with Wellworks For You. Participating employers have access to a customized wellness program that provides health and tness tracking, biometric tracking, and incentives for their medical subscribers. The Wellworks For You platform assists members in creating a healthier workplace by motivating employees to adopt healthier lifestyles, thereby reducing healthcare claims and improving productivity. We were also pleased to introduce two new voluntary benets to allow our members to continue to provide “best in class” benet packages and saw great adoption from members: • Norton LifeLock provides comprehensive identity theft protection, credit monitoring services, and cybersecurity benets. • Total Pet Plan allows participants access to discounted pet food, products, and prescriptions.John R. CaldwellCHAIRMAN The Farmers Bank of AppomattoxMichelle R. AustinBank of BotetourtElizabeth T. BealeBenchmark Community BankThomas F. Cherry C&F BankJeffrey H. CulverCommunity Bankers' BankBarry C. Elswick TruPoint BankMelody D. EmswilerFarmers & Merchants BankJames E. Hendricks, Jr.TowneBankBrandon C. Lorey Bank of ClarkeW. Mark Nelson First Bank & Trust CompanyC. Taylor QuickeCitizens Bank & Trust Co.Lara E. RamseyNational Bank2024-2025VBA BENEFITS CORPORATION BOARD of DIRECTORSMedical & Dental Plan Trust (self-funded medical & dental coverages): • Approximately 4,800 covered employees • Approximately $59 million in premium • PPO $3500 (35% of total enrollment) and PPO $5000 (25% of total enrollment) were most popular medical plan options Group Insurance Trust (fully-insured coverages): • Approximately 5,500 covered employees • $5,134,200 million in premium2025 SnapshotA snapshot of the scope, breadth and depth of VBABC offerings.A Look Back andA LOOK AHEAD2024 End of Year StatisticsRetirement Plans:Master Dened Contribution 401(k) Trust: 40 plans and $453,000,000 in assetsMaster Dened Benet Pension Trust: 9 plans and $87,000,000 in assetsNon-Qualied Deferred Compensation: 22 plans and $92,000,000 in assetsCardiovascular health solution that monitors blood pressure and provides personalized health insightsDigital weight management and personalized coaching solution that empowers individuals to take control of their heathMEMBER BANKS ADDED NORTON LIFELOCK (389 PARTICIPANTS)MEMBER BANKS ADDED TOTALPET PLAN (198 PARTICIPANTS)42 39$50M INCREASE2% INCREASEEnrollment increased from 5,213 TO 5,317Total assets under management increased from $403 MILLION TO $453 MILLIONIMPLEMENTEDAverage participant balance ($66k in 2023)3 NEW PLANS$86KThe VBA hosted their annual Retirement Plan Conference in May for 401(k) plan sponsors and covered topics that included litigation trends, duciary training, market trends, SECURE Act, and benchmarking data.The VBA Benets Corp. held the Wellbeing Summit 2.0 in February 2025. The Summit provided information on creating a multi-year wellbeing strategy, designing an incentive plan to motivate participation among employees, new trends in the area of wellbeing, and a deep dive into the new Wellworks For You platform. Attendees also participated in a sourdough bread making workshop with Hobby Hill Farm. The VBA Benets Corp. won an Activation Award at the bswift Idea Exchange conference in April 2025. This award was presented to organizations that had the best product activation among all their clients for 2025.
18 19TRAINING WHEELS: THE POWER OF PARTNERSHIPKristen ReidVICE PRESIDENT, EDUCATION & TRAININGMID-ATLANTIC BANKERS ASSOCIATION & VIRGINIA BANKERS ASSOCIATIONTRAINING WHEELS | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | EDUCATION & TRAININGA SPECIAL THANKS TO OUR ENDORSED PROVIDERS, ASSOCIATE MEMBERS AND OTHER INDUSTRY PARTNERSTo learn more about the VBA Endorsed Providers, visit www.vabankers.org/endorsed-providers. To learn more about the VBA Signature Sponsors, visit www.vabankers.org/vba-signature-sponsors.Silver Level:Platinum Level: Gold Level:E. Neil BurkeBenchmark Community BankJohn William Clements, II The Bank of Southside VirginiaJoseph F. CollumBurke & Herbert BankBlake M. Edwards, Jr.Skyline National BankPatricia A. Ferrick FVCbankBradford N. Langs Carter BankEdward C. MartinAtlantic Union BankAndrew J. PedenJohn Marshall BankSherri A. Sackett Select BankJulie K. Sturt Blue Ridge Bank, N.A.2024-2025 | VBA MANAGEMENT SERVICES, INC. BOARDVBA Endorsed Providers continued to step up and serve our member banks through their quality solutions, relevant resources and timely insights. Thanks to each of those providers for their active engagement and support over the last year. We appreciate the VBA member banks who look to those providers to meet their banks’ and, ultimately, their customers’ needs. A special thank you to our valued Associate Members and all of our industry partners for their continued engagement and sponsorship support.A Recap from the World of TrainingWhen the merger between the Virginia Bankers Association (VBA) and the Maryland Bankers Association (MBA) was announced last year, it opened the door to a wealth of new opportunities. Since then, the Education & Training team has been actively working to expand existing programs, identify unique offerings to retain for each state, and explore new areas for development. This process - both exciting and, at times, challenging - has allowed us to reimagine how we serve our members through education.New Offerings With the rise in scams targeting older adults and recent amendments to the Code of Virginia, we reintroduced a one-day seminar focused on protecting this vulnerable population. Featuring presentations from the U.S. Attorney’s Ofce, FBI, and Adult Protective Services, the seminar equipped attendees with tools to identify and respond to suspicious activity. Sam Kunjukunju of the American Bankers Association (ABA) also shared valuable training resources available to banks. In collaboration with the Mid-Atlantic Regulatory Committee, MBA, and the West Virginia Bankers Association, we launched a two-day compliance conference. The event featured regulator panels and sessions on key topics such as the Community Reinvestment Act (CRA), cannabis banking, and ntech partnerships. This virtual series, led by a seasoned bank supervisor instructor, offered banks a cost-effective way to train teams in essential leadership skills. Topics included giving and receiving feedback, supporting employees through change, and active listening. New and Extended PartnershipsOver the past year, we’ve not only introduced new training opportunities, but also strengthened our partnerships with other state banking associations:Now a 10-state collaboration led by the Louisiana Bankers Association, this conference delivers two days of in-depth sessions on state and federal legislation impacting banking and commercial law. Developed by the Washington Bankers Association, this eight-session virtual program provides new banking professionals with foundational knowledge on bank operations. Topics include credit metrics, funding and liquidity, and risk and return.In August, the CFO Conference expanded to include participants from Virginia, Maryland, and West Virginia, fostering broader regional collaboration and knowledge sharing. Looking AheadAs we look ahead, many of these programs will return - some with new formats or enhancements. We remain committed to developing innovative training opportunities and deepening our partnerships with state associations and associate members. Our goal is to ensure that bankers across our footprint are equipped with the knowledge and skills needed to thrive in an ever-evolving industry.For event and program recaps, please visit www.vabankers.org/vba-event-program-recaps. Education & Training: Noted & QuotedDennis A. DysartCHAIRMAN First Bank, VirginiaFrank Bell Chesapeake BankBarton Black F&M BankZirkle Blakey, IIICornerStone BankJohn J. Brough Chain Bridge Bank, NA2,300 BANKERS REACHED175SPONSORS/EXHIBITORS24TRAINING EVENTS(conferences, seminars and schools)
18 19TRAINING WHEELS: THE POWER OF PARTNERSHIPKristen ReidVICE PRESIDENT, EDUCATION & TRAININGMID-ATLANTIC BANKERS ASSOCIATION & VIRGINIA BANKERS ASSOCIATIONTRAINING WHEELS | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | EDUCATION & TRAININGA SPECIAL THANKS TO OUR ENDORSED PROVIDERS, ASSOCIATE MEMBERS AND OTHER INDUSTRY PARTNERSTo learn more about the VBA Endorsed Providers, visit www.vabankers.org/endorsed-providers. To learn more about the VBA Signature Sponsors, visit www.vabankers.org/vba-signature-sponsors.Silver Level:Platinum Level: Gold Level:E. Neil BurkeBenchmark Community BankJohn William Clements, II The Bank of Southside VirginiaJoseph F. CollumBurke & Herbert BankBlake M. Edwards, Jr.Skyline National BankPatricia A. Ferrick FVCbankBradford N. Langs Carter BankEdward C. MartinAtlantic Union BankAndrew J. PedenJohn Marshall BankSherri A. Sackett Select BankJulie K. Sturt Blue Ridge Bank, N.A.2024-2025 | VBA MANAGEMENT SERVICES, INC. BOARDVBA Endorsed Providers continued to step up and serve our member banks through their quality solutions, relevant resources and timely insights. Thanks to each of those providers for their active engagement and support over the last year. We appreciate the VBA member banks who look to those providers to meet their banks’ and, ultimately, their customers’ needs. A special thank you to our valued Associate Members and all of our industry partners for their continued engagement and sponsorship support.A Recap from the World of TrainingWhen the merger between the Virginia Bankers Association (VBA) and the Maryland Bankers Association (MBA) was announced last year, it opened the door to a wealth of new opportunities. Since then, the Education & Training team has been actively working to expand existing programs, identify unique offerings to retain for each state, and explore new areas for development. This process - both exciting and, at times, challenging - has allowed us to reimagine how we serve our members through education.New Offerings With the rise in scams targeting older adults and recent amendments to the Code of Virginia, we reintroduced a one-day seminar focused on protecting this vulnerable population. Featuring presentations from the U.S. Attorney’s Ofce, FBI, and Adult Protective Services, the seminar equipped attendees with tools to identify and respond to suspicious activity. Sam Kunjukunju of the American Bankers Association (ABA) also shared valuable training resources available to banks. In collaboration with the Mid-Atlantic Regulatory Committee, MBA, and the West Virginia Bankers Association, we launched a two-day compliance conference. The event featured regulator panels and sessions on key topics such as the Community Reinvestment Act (CRA), cannabis banking, and ntech partnerships. This virtual series, led by a seasoned bank supervisor instructor, offered banks a cost-effective way to train teams in essential leadership skills. Topics included giving and receiving feedback, supporting employees through change, and active listening. New and Extended PartnershipsOver the past year, we’ve not only introduced new training opportunities, but also strengthened our partnerships with other state banking associations:Now a 10-state collaboration led by the Louisiana Bankers Association, this conference delivers two days of in-depth sessions on state and federal legislation impacting banking and commercial law. Developed by the Washington Bankers Association, this eight-session virtual program provides new banking professionals with foundational knowledge on bank operations. Topics include credit metrics, funding and liquidity, and risk and return.In August, the CFO Conference expanded to include participants from Virginia, Maryland, and West Virginia, fostering broader regional collaboration and knowledge sharing. Looking AheadAs we look ahead, many of these programs will return - some with new formats or enhancements. We remain committed to developing innovative training opportunities and deepening our partnerships with state associations and associate members. Our goal is to ensure that bankers across our footprint are equipped with the knowledge and skills needed to thrive in an ever-evolving industry.For event and program recaps, please visit www.vabankers.org/vba-event-program-recaps. Education & Training: Noted & QuotedDennis A. DysartCHAIRMAN First Bank, VirginiaFrank Bell Chesapeake BankBarton Black F&M BankZirkle Blakey, IIICornerStone BankJohn J. Brough Chain Bridge Bank, NA2,300 BANKERS REACHED175SPONSORS/EXHIBITORS24TRAINING EVENTS(conferences, seminars and schools)
20 21LEADERSHIP CONTINUUM PROGRAMS | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | LEADERSHIP CONTINUUM PROGRAMSVirginia Bankers School of Bank ManagementCongratulations to the Class of 202420CLASS OF 2024 HONOR GRAD & TOP 10%2024 HONOR GRADS Katrina M. HuerthCarter BankH.B. HunterFirst Bank & Trust Co.2024 TOP 10%Nicole Fernandez Touchstone BankJennifer Grant TowneBankKatrina M. HuerthCarter BankH.B. Hunter First Bank & Trust Co.Jessica Huntington CliftonLarsonAllen LLPRobert Kelly SouthState Bank, NAAmber Marie Rice Old Point National Bank Peter Lind Taylor LocusScarlett Turman National Bank On November 7, 2024, 29bankers graduated from the Management Development Program. This program is a three-month, comprehensive training designed for newer employees who have developed a passion for banking, want to enhance their knowledge of the business of banking, and who are motivated to excel in their careers and reach their full potential. Sessions in this year’s program included: VBA Management DEVELOPMENTPROGRAM • Introduction to Banking, Strengthening a Culture Through Emotional Intelligence & Accounting & ALCO – Banking’s Universal Language • Insights Discovery: Learning Your Personal Leadership Style • From the CEO Seat – Dening Moments in Our Professional Development Journey • The Digital Consumer & Bank Marketing’s Role • Bank Compliance • CRA & Networking • Introduction to Strategic Planning & Perspectives on Career Development • Advocacy & Industry Engagement Beyond MDP2024VIRGINIA BANKERS SCHOOL OF BANK MANAGEMENT More than 200 bankers participated in the week-long session of the 2024 Virginia Bankers School of Bank Management. Bank School provides a multidimensional education experience in banking. Employing lectures from the best of the banking, professional and academic worlds, case studies, home study problems and peer study groups provides a vehicle for each student to experience comprehensive learning.The third year class chose to give back during the week and raised more than $4,200 and collected supplies to benet the Autism Sanctuary in Charlottesville.Congratulations to theCLASS OF 2024For event and program recaps, please visit www.vabankers.org/vba-event-program-recaps. On May 21, 2025, 12bankers graduated from the Executive Leadership Institute. This ve-month program is designed to actively enhance the leadership, organizational and performance skills of the highly motivated, high-potential and successful banker who is currently in or progressing toward a senior level position. During the program, participants took part in a variety of learning components including relevant pre-work, readings, podcasts and videos, hands-on experiential activities, small group activities and discussions, and simulations – all designed to ensure signicant engagement throughout the program. Sessions in this year’s program included: • Authentic Leadership & Personal Growth • Collaboration, Strategy & Change • Effective Communications for Important Outcomes • Leading Teams, Causing Results Through Others • Taking the LeadExecutive LEADERSHIP INSTITUTECongratulations to the CLASS OF 2025Neddal Mohammed Abu-Taa, Atlantic Union BankStacey P. Akers, Chesapeake BankKyle J. Andrews, First National BankDanielle S. Atwood, Carter BankAshley M. Austin, First Bank & Trust Co.Tess L. Baker, ServisFirst BankChristopher Biby, United BankJared L. Boyd, Skyline National BankTaylor L. W. Bradshaw, The Farmers Bank of AppomattoxLauren Brooke Brandt, Blue Ridge Bank, N.A.Richard S. Bullock, III, Old Point National BankJennifer Church, TowneBankWalter C. Clarke, First Citizens BankMaria E. Cole, Chain Bridge Bank, NAChristine N. Corbett, Oak View National BankShantelle Crouch, First Bank, VirginiaTim Davis, John Marshall BankDanielle Elizabeth Dendy, Atlantic Union BankHailey K. Dzuba, National BankTammy J. Ellmore, MainStreet BankWhitney Eriksen, Chesapeake BankSonia Espinoza, United BankJacquelyn Fanion, Sandy Spring BankNicole Fernandez, Touchstone BankChelsea Grandfield, National BankJennifer Grant, TowneBankChris Hairston-White Cristie A. Hall, TowneBankJohn Hana, Bureau of Financial InstitutionsRebecca Hardin, C&F BankJoshua Hardy, Select BankJared Harrell, Peoples BancorpAmanda S. Harris, Community Bankers’ BankElizabeth J. Hash, Skyline National BankDavid Hawker, First National BankKimberly A. Hazzard, C&F BankTraci L. Heflin, Bank of ClarkeBrandy Childress Hodges, New Peoples Bank Inc.Katrina M. Huerth, Carter Bank H.B. Hunter, First Bank & Trust Co.Jessica Huntington, CliftonLarsonAllen LLPTracey L. Jenkins, First Bank, VirginiaKatherine Johnson, Burke & Herbert Bank Heather L. Jones, Blue Ridge Bank, N.A.Robert Kelly, SouthState Bank, NAIan Addis Kilby, National Capital Bank of WashingtonAshley Lam, F&M BankAlexa Gray Layne-Stratton, The Farmers Bank of AppomattoxLaura D. Lewin, TowneBankJennifer Lincoln, Chain Bridge Bank, NAJulie Taylor Lineberry, TowneBankJames M. Little, Atlantic Union BankCharlotte Ann Logan, New Peoples Bank Inc.Kelly Lowery, TruPoint BankDaniel Maddox, Shore United Bank, NAJessica P. Moon, The Bank of Charlotte CountyEzmaray Motaseb, TD Bank, NASusanna Nave, First Bank, VirginiaOlivia Lynn Paisley, The Bank of MarionJodi M. Parker, TowneBankCraig W. Reed, Southern Bank and Trust CompanyAmber Marie Rice, Old Point National BankBrianna Richards, Federal Reserve Bank of RichmondJessica Leigh Richardson, First Bank, VirginiaStephen Richardson, Fulton Bank, NAJay Scott Robinson, Jr., United BankKaren Rose, F&M BankHeather Renee Shaffer, First Bank, VirginiaAlexander D. Shelton, Federal Reserve Bank of RichmondMelissa L. Shifflett, Bank of ClarkeJoshua D. Shrader, TowneBankHillary B. Smith, TowneBankRosalia G. Snyder, Shore United Bank, NASamantha Rubin Sully, TowneBankChonise T. Tate, TowneBankPeter Lind Taylor, LocusChristopher J. Thomas, Atlantic Union BankJustin L. Trent, First Bank & Trust CompanyAnastasiya Trofimova, LocusScarlett Turman, National BankCourtney B. Turner, Touchstone BankKari Elizabeth Van Wassen, Chain Bridge Bank, NAWilliam Irving Vaughan, Jr., United BankJaime Warren, Southern Bank and Trust CompanyStephanie Webb, Benchmark Community BankKathryn W. Weller, First Bank, VirginiaNatalie Wilson, First Bank, VirginiaVBA Internship PROGRAMFrom June-August 2024, 40students participated in the VBA Internship Program with 15 banks across the state.Through this program, interns were exposed to the industry through a variety of projects, online coursework, departmental rotations through their banks, community engagement and in-person andvirtual training from the VBA. Interns who completed a set of requirements were eligible to receive the VBA Internship Program Certicate of Completion.Two in-person meetings were held for the interns – the Intern Orientation in May and the Mid-Summer Meet-Up in July. Participating interns also had the opportunity to attend a shadow day at the Virginia Bankers School of Bank Management in July. Interns participated in virtualmeetings throughout the summer on a variety of banking topics, including: • Enneagram Workshop • CRA 101 • Trends in Fintech • AI in banking • Banking the next generation • Dynamic workforce panel discussion • Capstone project discussions and mini-presentations
20 21LEADERSHIP CONTINUUM PROGRAMS | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | LEADERSHIP CONTINUUM PROGRAMSVirginia Bankers School of Bank ManagementCongratulations to the Class of 202420CLASS OF 2024 HONOR GRAD & TOP 10%2024 HONOR GRADS Katrina M. HuerthCarter BankH.B. HunterFirst Bank & Trust Co.2024 TOP 10%Nicole Fernandez Touchstone BankJennifer Grant TowneBankKatrina M. HuerthCarter BankH.B. Hunter First Bank & Trust Co.Jessica Huntington CliftonLarsonAllen LLPRobert Kelly SouthState Bank, NAAmber Marie Rice Old Point National Bank Peter Lind Taylor LocusScarlett Turman National Bank On November 7, 2024, 29bankers graduated from the Management Development Program. This program is a three-month, comprehensive training designed for newer employees who have developed a passion for banking, want to enhance their knowledge of the business of banking, and who are motivated to excel in their careers and reach their full potential. Sessions in this year’s program included: VBA Management DEVELOPMENTPROGRAM • Introduction to Banking, Strengthening a Culture Through Emotional Intelligence & Accounting & ALCO – Banking’s Universal Language • Insights Discovery: Learning Your Personal Leadership Style • From the CEO Seat – Dening Moments in Our Professional Development Journey • The Digital Consumer & Bank Marketing’s Role • Bank Compliance • CRA & Networking • Introduction to Strategic Planning & Perspectives on Career Development • Advocacy & Industry Engagement Beyond MDP2024VIRGINIA BANKERS SCHOOL OF BANK MANAGEMENT More than 200 bankers participated in the week-long session of the 2024 Virginia Bankers School of Bank Management. Bank School provides a multidimensional education experience in banking. Employing lectures from the best of the banking, professional and academic worlds, case studies, home study problems and peer study groups provides a vehicle for each student to experience comprehensive learning.The third year class chose to give back during the week and raised more than $4,200 and collected supplies to benet the Autism Sanctuary in Charlottesville.Congratulations to theCLASS OF 2024For event and program recaps, please visit www.vabankers.org/vba-event-program-recaps. On May 21, 2025, 12bankers graduated from the Executive Leadership Institute. This ve-month program is designed to actively enhance the leadership, organizational and performance skills of the highly motivated, high-potential and successful banker who is currently in or progressing toward a senior level position. During the program, participants took part in a variety of learning components including relevant pre-work, readings, podcasts and videos, hands-on experiential activities, small group activities and discussions, and simulations – all designed to ensure signicant engagement throughout the program. Sessions in this year’s program included: • Authentic Leadership & Personal Growth • Collaboration, Strategy & Change • Effective Communications for Important Outcomes • Leading Teams, Causing Results Through Others • Taking the LeadExecutive LEADERSHIP INSTITUTECongratulations to the CLASS OF 2025Neddal Mohammed Abu-Taa, Atlantic Union BankStacey P. Akers, Chesapeake BankKyle J. Andrews, First National BankDanielle S. Atwood, Carter BankAshley M. Austin, First Bank & Trust Co.Tess L. Baker, ServisFirst BankChristopher Biby, United BankJared L. Boyd, Skyline National BankTaylor L. W. Bradshaw, The Farmers Bank of AppomattoxLauren Brooke Brandt, Blue Ridge Bank, N.A.Richard S. Bullock, III, Old Point National BankJennifer Church, TowneBankWalter C. Clarke, First Citizens BankMaria E. Cole, Chain Bridge Bank, NAChristine N. Corbett, Oak View National BankShantelle Crouch, First Bank, VirginiaTim Davis, John Marshall BankDanielle Elizabeth Dendy, Atlantic Union BankHailey K. Dzuba, National BankTammy J. Ellmore, MainStreet BankWhitney Eriksen, Chesapeake BankSonia Espinoza, United BankJacquelyn Fanion, Sandy Spring BankNicole Fernandez, Touchstone BankChelsea Grandfield, National BankJennifer Grant, TowneBankChris Hairston-White Cristie A. Hall, TowneBankJohn Hana, Bureau of Financial InstitutionsRebecca Hardin, C&F BankJoshua Hardy, Select BankJared Harrell, Peoples BancorpAmanda S. Harris, Community Bankers’ BankElizabeth J. Hash, Skyline National BankDavid Hawker, First National BankKimberly A. Hazzard, C&F BankTraci L. Heflin, Bank of ClarkeBrandy Childress Hodges, New Peoples Bank Inc.Katrina M. Huerth, Carter Bank H.B. Hunter, First Bank & Trust Co.Jessica Huntington, CliftonLarsonAllen LLPTracey L. Jenkins, First Bank, VirginiaKatherine Johnson, Burke & Herbert Bank Heather L. Jones, Blue Ridge Bank, N.A.Robert Kelly, SouthState Bank, NAIan Addis Kilby, National Capital Bank of WashingtonAshley Lam, F&M BankAlexa Gray Layne-Stratton, The Farmers Bank of AppomattoxLaura D. Lewin, TowneBankJennifer Lincoln, Chain Bridge Bank, NAJulie Taylor Lineberry, TowneBankJames M. Little, Atlantic Union BankCharlotte Ann Logan, New Peoples Bank Inc.Kelly Lowery, TruPoint BankDaniel Maddox, Shore United Bank, NAJessica P. Moon, The Bank of Charlotte CountyEzmaray Motaseb, TD Bank, NASusanna Nave, First Bank, VirginiaOlivia Lynn Paisley, The Bank of MarionJodi M. Parker, TowneBankCraig W. Reed, Southern Bank and Trust CompanyAmber Marie Rice, Old Point National BankBrianna Richards, Federal Reserve Bank of RichmondJessica Leigh Richardson, First Bank, VirginiaStephen Richardson, Fulton Bank, NAJay Scott Robinson, Jr., United BankKaren Rose, F&M BankHeather Renee Shaffer, First Bank, VirginiaAlexander D. Shelton, Federal Reserve Bank of RichmondMelissa L. Shifflett, Bank of ClarkeJoshua D. Shrader, TowneBankHillary B. Smith, TowneBankRosalia G. Snyder, Shore United Bank, NASamantha Rubin Sully, TowneBankChonise T. Tate, TowneBankPeter Lind Taylor, LocusChristopher J. Thomas, Atlantic Union BankJustin L. Trent, First Bank & Trust CompanyAnastasiya Trofimova, LocusScarlett Turman, National BankCourtney B. Turner, Touchstone BankKari Elizabeth Van Wassen, Chain Bridge Bank, NAWilliam Irving Vaughan, Jr., United BankJaime Warren, Southern Bank and Trust CompanyStephanie Webb, Benchmark Community BankKathryn W. Weller, First Bank, VirginiaNatalie Wilson, First Bank, VirginiaVBA Internship PROGRAMFrom June-August 2024, 40students participated in the VBA Internship Program with 15 banks across the state.Through this program, interns were exposed to the industry through a variety of projects, online coursework, departmental rotations through their banks, community engagement and in-person andvirtual training from the VBA. Interns who completed a set of requirements were eligible to receive the VBA Internship Program Certicate of Completion.Two in-person meetings were held for the interns – the Intern Orientation in May and the Mid-Summer Meet-Up in July. Participating interns also had the opportunity to attend a shadow day at the Virginia Bankers School of Bank Management in July. Interns participated in virtualmeetings throughout the summer on a variety of banking topics, including: • Enneagram Workshop • CRA 101 • Trends in Fintech • AI in banking • Banking the next generation • Dynamic workforce panel discussion • Capstone project discussions and mini-presentations
22 23EDUCATION & TRAINING | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | EDUCATION & TRAININGMore than 200 bankers and industry partners joined us in Williamsburg from March 3-5 for the Connect|Protect Experience. This event brought together banking professionals in the areas of marketing, human resources, retail banking, training, security, enterprise risk management, compliance, and operations and technology. This year’s event featured ve general sessions and ve rounds of concurrent breakout sessions, during which attendees uncovered new ideas, trends, and developments in banking. The event was supported by 25 sponsoring companies and featured an exhibit hall with 21 booths.2025For event and program recaps, please visit www.vabankers.org/vba-event-program-recaps. Lending & CREDIT CONFERENCE Nearly 120 bankers and industry partners joined us October 17-18, 2024 for the Lending & Credit Conference. This event provided educational and networking opportunities through a combination of general sessions and peer group discussions. Sessions at the 2024 event included CRE in the spotlight for US banks as credit quality weakens; C&I lending best practices; AI and lending; a small business owner panel discussion; and more.OCT2024The VBA partnered with the Delaware Bankers Association, Maryland Bankers Association, Pennsylvania Bankers Association and West Virginia Bankers Association for the Mid-Atlantic Bank Executives Conference on November 3-4 in Middleburg, VA. Nearly 50 bankers and industry partners joined us for sessions on keeping pace with rapidly emerging technologies; credit risk; geopolitics, geoeconomics, and US elections 2024-2025; and more.Tri-State CFOCONFERENCENearly 140 bankers and industry partners joined us August 21-23, 2024 at The Hotel Roanoke for our Tri-State CFO Conference, hosted by the Maryland Bankers Association, Virginia Bankers Association and West Virginia Bankers Association. Attendees enjoyed engaging and relevant sessions and also had the opportunity to meet with our sponsors in the exhibit hall and learn more about exhibitors’ solutions during the vendor speed dating session. Sessions at the 2024 event included surviving FDICIA in a dynamic industry; 2024 mid-year SEC update; current fraud trends and scams; liquidity, funding, and regulation; a regulator panel; and more.AUG2024VBA/VA Chamber FINANCIAL FORECASTOn January 9, nearly 570 bankers and members of the business community joined us for the 2025 VBA/VA Chamber Financial Forecast. Due to water supply issues in the city of Richmond, the event that was originally scheduled to be held at the Greater Richmond Convention Center was held virtually. For the fourteenth year, the VBA and VA Chamber of Commerce partnered to bring together hundreds of members of the business community to learn what lies ahead for the state and national economy.Speakers at the 2025 event included Thomas I. Barkin, Federal Reserve Bank of Richmond President & CEO, and Melina Duggal, AICP, CoStar Group Senior Director of Market Analytics. JAN2025Mid-Atlantic Bank EXECUTIVESCONFERENCEIn September 2024, the VBA partnered with representatives from local, state and federal organizations to host the Elder Financial Exploitation Prevention Training. Developed in response to the newly enacted laws in Virginia around preventing and reporting nancial exploitation of elderly or vulnerable adults, attendees participated in sessions on the prevalence of elder abuse and the importance of reporting suspicious activity; how to spot key indicators of exploitation and tools for community-level intervention; federal and state-level legal frameworks and engagement strategies; and banking resources to protect seniors.Elder Financial EXPLOITATIONPREVENTION TRAININGSEP2024For more than 15 years, the VBA has partnered with the Virginia Association of Community Banks to bring together more than 190 bankers for the 2025 Directors' Symposium. In addition to programs in Blacksburg and Richmond, VA, a program was added in Columbia, MD, in partnership with the Maryland Bankers Association. The program provided bank board members with current data, thought-provoking industry trends and networking opportunities with other directors and regulators. Topics at the 2025 Symposium included an economic update, legal panel, owning cyber risk at the board level, optimizing loan portfolio management in today’s evolving economic landscape, and more.Directors’ SYMPOSIUMAPR2025NOV2024EVENT HIGHLIGHTSGeneral sessions at this year’s event included:Project Management Fundamentals Melissa Hicks, PMP | Chesapeake BankThemes and Trends in Consumer Financial Decision-Making Chuck Howard, Ph.D. | University of Virginia – Darden School of BusinessIndustry Update Bruce Whitehurst | Mid-Atlantic Bankers Association & Virginia Bankers AssociationBanking in the Age of Generative AI Jim Perry | Market Insights, Inc.Executive Performance Alan Dow, M.D. | Envoy
22 23EDUCATION & TRAINING | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | EDUCATION & TRAININGMore than 200 bankers and industry partners joined us in Williamsburg from March 3-5 for the Connect|Protect Experience. This event brought together banking professionals in the areas of marketing, human resources, retail banking, training, security, enterprise risk management, compliance, and operations and technology. This year’s event featured ve general sessions and ve rounds of concurrent breakout sessions, during which attendees uncovered new ideas, trends, and developments in banking. The event was supported by 25 sponsoring companies and featured an exhibit hall with 21 booths.2025For event and program recaps, please visit www.vabankers.org/vba-event-program-recaps. Lending & CREDIT CONFERENCE Nearly 120 bankers and industry partners joined us October 17-18, 2024 for the Lending & Credit Conference. This event provided educational and networking opportunities through a combination of general sessions and peer group discussions. Sessions at the 2024 event included CRE in the spotlight for US banks as credit quality weakens; C&I lending best practices; AI and lending; a small business owner panel discussion; and more.OCT2024The VBA partnered with the Delaware Bankers Association, Maryland Bankers Association, Pennsylvania Bankers Association and West Virginia Bankers Association for the Mid-Atlantic Bank Executives Conference on November 3-4 in Middleburg, VA. Nearly 50 bankers and industry partners joined us for sessions on keeping pace with rapidly emerging technologies; credit risk; geopolitics, geoeconomics, and US elections 2024-2025; and more.Tri-State CFOCONFERENCENearly 140 bankers and industry partners joined us August 21-23, 2024 at The Hotel Roanoke for our Tri-State CFO Conference, hosted by the Maryland Bankers Association, Virginia Bankers Association and West Virginia Bankers Association. Attendees enjoyed engaging and relevant sessions and also had the opportunity to meet with our sponsors in the exhibit hall and learn more about exhibitors’ solutions during the vendor speed dating session. Sessions at the 2024 event included surviving FDICIA in a dynamic industry; 2024 mid-year SEC update; current fraud trends and scams; liquidity, funding, and regulation; a regulator panel; and more.AUG2024VBA/VA Chamber FINANCIAL FORECASTOn January 9, nearly 570 bankers and members of the business community joined us for the 2025 VBA/VA Chamber Financial Forecast. Due to water supply issues in the city of Richmond, the event that was originally scheduled to be held at the Greater Richmond Convention Center was held virtually. For the fourteenth year, the VBA and VA Chamber of Commerce partnered to bring together hundreds of members of the business community to learn what lies ahead for the state and national economy.Speakers at the 2025 event included Thomas I. Barkin, Federal Reserve Bank of Richmond President & CEO, and Melina Duggal, AICP, CoStar Group Senior Director of Market Analytics. JAN2025Mid-Atlantic Bank EXECUTIVESCONFERENCEIn September 2024, the VBA partnered with representatives from local, state and federal organizations to host the Elder Financial Exploitation Prevention Training. Developed in response to the newly enacted laws in Virginia around preventing and reporting nancial exploitation of elderly or vulnerable adults, attendees participated in sessions on the prevalence of elder abuse and the importance of reporting suspicious activity; how to spot key indicators of exploitation and tools for community-level intervention; federal and state-level legal frameworks and engagement strategies; and banking resources to protect seniors.Elder Financial EXPLOITATIONPREVENTION TRAININGSEP2024For more than 15 years, the VBA has partnered with the Virginia Association of Community Banks to bring together more than 190 bankers for the 2025 Directors' Symposium. In addition to programs in Blacksburg and Richmond, VA, a program was added in Columbia, MD, in partnership with the Maryland Bankers Association. The program provided bank board members with current data, thought-provoking industry trends and networking opportunities with other directors and regulators. Topics at the 2025 Symposium included an economic update, legal panel, owning cyber risk at the board level, optimizing loan portfolio management in today’s evolving economic landscape, and more.Directors’ SYMPOSIUMAPR2025NOV2024EVENT HIGHLIGHTSGeneral sessions at this year’s event included:Project Management Fundamentals Melissa Hicks, PMP | Chesapeake BankThemes and Trends in Consumer Financial Decision-Making Chuck Howard, Ph.D. | University of Virginia – Darden School of BusinessIndustry Update Bruce Whitehurst | Mid-Atlantic Bankers Association & Virginia Bankers AssociationBanking in the Age of Generative AI Jim Perry | Market Insights, Inc.Executive Performance Alan Dow, M.D. | Envoy
24 25VIRGINIA BANKING ANNUAL | 2023-2024 | DIVERSITY, EQUITY & INCLUSION2024 WomenIN BANKING CONFERENCEOn December 4-5, bankers and industry partners joined us for the twelfth annual Women in Banking Conference. This conference was designed for all who like to participate in engaging and thought-provoking sessions on assisting women in nding success in the banking industry. The 2024 event brought together nearly 130 attendees in Richmond. • Improvisation as a Leadership Tool? Yes and… • Leadership Lessons from a Career in Banking – A Fireside Chat with United Bank President Julie Gurtis • The Art of Communicating Cross- Culturally: Sharing Stories that Matter • Wellness • Mindset Matters • Mastering Everyday LeadershipIn partnership with the VBA Executive Women in Banking Peer Group, the VBA and MBA hosted an International Women’s Day reside chat on March 7, 2025 with Janet Currie, Bank of America and 2024-2025 MBA Chair, and Michelle Austin, Bank of Botetourt and VBA Executive Women in Banking Peer Group member. Nearly 400 bankers from across Maryland and Virginia gathered for the reside chat. EDUCATION & TRAINING | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | EDUCATION & TRAININGDynamic WORKFORCE INITIATIVESVBA, the American Bankers Association and the Maryland Bankers Association partnered to host a virtual Summit for bankers on September 12, 2024 on cultural growth in the workforce. The Summit was attended by more than 400 nationwide participants. The event provided bankers with valuable information and tools to assist them in overcoming workforce challenges, enhancing collaboration, and increasing innovation. Speakers included Denise Hamilton, WatchHerWork founder and CEO, and Glen Guyton, trainer, speaker, and cultural competency navigator. Sessions included board succession planning, unleashing the potential of emerging leaders, being responsive to your community, transforming your bank, and more.2024 Women’sMENTORSHIP PROGRAM • Bank of Botetourt • Benchmark Community Bank • C&F Bank • Chesapeake Bank • First Bank, Virginia • Forbright Bank • MainStreet Bank • Old Point National Bank • Sandy Spring Bank, a Division of Atlantic Union Bank • Shore United Bank, NA • The Farmers Bank of AppomattoxForty bankers participating in the 2024 program from the following banks:From February-December, 46 bankers participated in the 2024 cohort of the Women’s Mentorship Program, an experience involving one-on- one interaction and discussion combined with training and regional networking opportunities. Bankers participated in a formal opening session that included mentor and mentee training, bi-monthly industry and development focused themes, regional meetups hosted by members of the Executive Women in Banking Peer Group and a closing event. International WOMEN’S DAYThis year’s sessions included:Session Highlights:Personal Branding Jennifer Huffman, Atlantic Union BankGoal Setting Jodi Flynn, Women Taking the LeadExploring Core Values Britten Parker,InnerWill Leadership InstituteClosing Session: From Brand to Bold Donna Highll,Donna Highll Consulting2024 Themes:Building the Knowledge of Your Bank – It All Starts with Your Organization! Understanding Your Strengths, Values and How They Play Into Your Brand What Do You Want to be Known For & the Foundation of Your Personal BrandPolishing Your Brand StatementFor event and program recaps, please visit www.vabankers.org/vba-event-program-recaps.
24 25VIRGINIA BANKING ANNUAL | 2023-2024 | DIVERSITY, EQUITY & INCLUSION2024 WomenIN BANKING CONFERENCEOn December 4-5, bankers and industry partners joined us for the twelfth annual Women in Banking Conference. This conference was designed for all who like to participate in engaging and thought-provoking sessions on assisting women in nding success in the banking industry. The 2024 event brought together nearly 130 attendees in Richmond. • Improvisation as a Leadership Tool? Yes and… • Leadership Lessons from a Career in Banking – A Fireside Chat with United Bank President Julie Gurtis • The Art of Communicating Cross- Culturally: Sharing Stories that Matter • Wellness • Mindset Matters • Mastering Everyday LeadershipIn partnership with the VBA Executive Women in Banking Peer Group, the VBA and MBA hosted an International Women’s Day reside chat on March 7, 2025 with Janet Currie, Bank of America and 2024-2025 MBA Chair, and Michelle Austin, Bank of Botetourt and VBA Executive Women in Banking Peer Group member. Nearly 400 bankers from across Maryland and Virginia gathered for the reside chat. EDUCATION & TRAINING | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | EDUCATION & TRAININGDynamic WORKFORCE INITIATIVESVBA, the American Bankers Association and the Maryland Bankers Association partnered to host a virtual Summit for bankers on September 12, 2024 on cultural growth in the workforce. The Summit was attended by more than 400 nationwide participants. The event provided bankers with valuable information and tools to assist them in overcoming workforce challenges, enhancing collaboration, and increasing innovation. Speakers included Denise Hamilton, WatchHerWork founder and CEO, and Glen Guyton, trainer, speaker, and cultural competency navigator. Sessions included board succession planning, unleashing the potential of emerging leaders, being responsive to your community, transforming your bank, and more.2024 Women’sMENTORSHIP PROGRAM • Bank of Botetourt • Benchmark Community Bank • C&F Bank • Chesapeake Bank • First Bank, Virginia • Forbright Bank • MainStreet Bank • Old Point National Bank • Sandy Spring Bank, a Division of Atlantic Union Bank • Shore United Bank, NA • The Farmers Bank of AppomattoxForty bankers participating in the 2024 program from the following banks:From February-December, 46 bankers participated in the 2024 cohort of the Women’s Mentorship Program, an experience involving one-on- one interaction and discussion combined with training and regional networking opportunities. Bankers participated in a formal opening session that included mentor and mentee training, bi-monthly industry and development focused themes, regional meetups hosted by members of the Executive Women in Banking Peer Group and a closing event. International WOMEN’S DAYThis year’s sessions included:Session Highlights:Personal Branding Jennifer Huffman, Atlantic Union BankGoal Setting Jodi Flynn, Women Taking the LeadExploring Core Values Britten Parker,InnerWill Leadership InstituteClosing Session: From Brand to Bold Donna Highll,Donna Highll Consulting2024 Themes:Building the Knowledge of Your Bank – It All Starts with Your Organization! Understanding Your Strengths, Values and How They Play Into Your Brand What Do You Want to be Known For & the Foundation of Your Personal BrandPolishing Your Brand StatementFor event and program recaps, please visit www.vabankers.org/vba-event-program-recaps.
26 27GET TO KNOW 2025 EBL CHAIR JENNIFER GEGNERVICE PRESIDENT, TREASURY SOLUTIONS CONSULTANT II C&F BANKEMERGING BANK LEADERS | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | EMERGING BANK LEADERSTell us why you became a banker and what has kept you in the industry for the past 15+ years.While living in Wisconsin, I stumbled into my banking career and quickly realized it was a perfect t. Banking offered me an opportunity to make a real difference by guiding individuals through their nancial journeys. When I moved to Virginia, I was fortunate to join C&F Bank, where leadership believed in me before I even fully believed in myself. Their support empowered me to step outside my comfort zone, grow both personally and professionally, and achieve goals I hadn’t imagined possible. Attending the Virginia Bankers School of Bank Management further expanded my understanding of the banking industry’s potential for growth and impact.Financial stability is vital, and being an advocate for our customers remains a cornerstone of my passion for banking. Every banker has a voice, and together we can shape a stronger future for our communities. Tell us how you initially became involved with the EBL and why you decided to champion the group by becoming its chair.I rst became aware of the EBL while attending Bank School. I quickly realized this group was lled with professionals who shared my passion for career growth, leadership development, and a deep commitment to the banking industry. It was clear that this was where I belonged – regardless of title or age, we are all on a journey of growth and emergence.Through my leadership development with C&F Bank, I had the opportunity to attend a variety of VBA events. Each experience deepened my understanding of the industry and reinforced the importance of collaboration, advocacy, and community engagement. Knowing that our committee is dedicated to supporting one another, advocating for industry, and educating our community is what drives my passion for this role. What does relationship-focused leadership mean to you and how do you exemplify it in the workplace and in your community?To me, relationship-focused leadership means actively listening, showing empathy, maintaining consistent communication and demonstrating a genuine commitment to others’ wellbeing. The relationships we build extend beyond professional interactions – they are founded on trust, collaboration, and connections, making every day fullling and rewarding. While I continue to master these skills, I lead by example and am better equipped to cultivate long-term, meaningful relationships that inspire condence in others.Finally, what recommendations do you have for EBL members looking to engage with the association? Dive in – the VBA offers events tailored for everyone. The key is identifying which opportunities align with your personal and professional growth. I highly recommend discussing your goals with your direct manager and developing a growth plan that supports both your success and your bank’s objectives. Additionally, explore the VBA’s Emerging Bank Leaders website or Facebook group to connect with your local EBL Regional Director or committee members. They’re always eager to share insights about upcoming events and how the EBL has positively impacted their personal and professional development.A. A. A. A. Q.Q.Q.Q.More than 90 bankers and industry partners joined us in Charlottesville for the 2024 Leadership Conference on November 14-15. This annual event designed for emerging banking leaders gives attendees the opportunity to share ideas and network with peers from across the state. Sessions at the event included an economic outlook; bank CEO/executives panel; Transforming Transactions: The Rise of Realtime Payments and Fintech’s Latest Wave; Brave, Bold & Barefoot: A Champion’s Blueprint to Success; Leading for Tomorrow, Today; and Pursuing Your Dreams.Leadership CONFERENCEIn April and May 2025, nearly 175 attendees enjoyed a state of the industry update from President & CEO Bruce Whitehurst followed by a “Leadership Dialogues” panel that consisted of three bankers from each EBL region at our Burgers with Bruce Series.Thank You to the 2025 Panelists & Event Emcees!(Panelists listed in alphabetical order)Burgers with Bruce SERIESNORFOLK Jennifer Grant TowneBankAlvin Payne JPMorgan Chase BankLaura Wright Old Point National BankEmcee Kari Van Wassen Chain Bridge BankABINGDONKate Belcher Skyline National BankAmy Mellinger Powell Valley National Bank Vanessa Wynn Lee Bank & Trust Emcee David Cahill First Bank & Trust Co.LYNCHBURG Rosa Coffey Bank of BotetourtMichelle Gaydica First National BankJennifer Huffman Atlantic Union BankEmcee Zach McGill First National BankALEXANDRIA Joe Collum Burke & Herbert BankDavid Evinger Chain Bridge BankKatrina Pike Bank of ClarkeEmcee Darren Tully Capital BankHARRISONBURG Chris Biby United BankBarton Black F&M BankTracey Jenkins First Bank, VirginiaEmcee Jordan DeanPendleton Community BankRICHMONDKelly Beazley Bank of AmericaKevin HillChesapeake BankTaylor Quicke Citizens Bank & Trust Co. Emcee Jennifer Gegner C&F BankTo learn more about the EBL Regional Directors, please visit www.vabankers.org/internal-links/ 5-minutes-ebl-regional-directors. Emerging Bank LeadersREGIONAL DIRECTORSThe EBL is a group that connects Virginia’s emerging bank leaders to engage them in the future of the banking industry. The efforts and activities of the EBL are planned in partnership with the EBL Steering Committee, which includes the following regional directors:Northern Virginia DARREN TULLY Capital Bank DALE SCHUURMANBlue Ridge Bank ZACH MCGILLFirst National Bank JENNIFER GEGNER C&F BankJORDAN DEANPendleton Community BankSouthwest Virginia DAVID CAHILLFirst Bank & Trust Co.To read Jennifer's full Q&A, please visit www.vabankers.org/internal-links/get-know-jennifer-gegner-2025-ebl-chair. For event and program recaps, please visit www.vabankers.org/vba-event-program-recaps.
26 27GET TO KNOW 2025 EBL CHAIR JENNIFER GEGNERVICE PRESIDENT, TREASURY SOLUTIONS CONSULTANT II C&F BANKEMERGING BANK LEADERS | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | EMERGING BANK LEADERSTell us why you became a banker and what has kept you in the industry for the past 15+ years.While living in Wisconsin, I stumbled into my banking career and quickly realized it was a perfect t. Banking offered me an opportunity to make a real difference by guiding individuals through their nancial journeys. When I moved to Virginia, I was fortunate to join C&F Bank, where leadership believed in me before I even fully believed in myself. Their support empowered me to step outside my comfort zone, grow both personally and professionally, and achieve goals I hadn’t imagined possible. Attending the Virginia Bankers School of Bank Management further expanded my understanding of the banking industry’s potential for growth and impact.Financial stability is vital, and being an advocate for our customers remains a cornerstone of my passion for banking. Every banker has a voice, and together we can shape a stronger future for our communities. Tell us how you initially became involved with the EBL and why you decided to champion the group by becoming its chair.I rst became aware of the EBL while attending Bank School. I quickly realized this group was lled with professionals who shared my passion for career growth, leadership development, and a deep commitment to the banking industry. It was clear that this was where I belonged – regardless of title or age, we are all on a journey of growth and emergence.Through my leadership development with C&F Bank, I had the opportunity to attend a variety of VBA events. Each experience deepened my understanding of the industry and reinforced the importance of collaboration, advocacy, and community engagement. Knowing that our committee is dedicated to supporting one another, advocating for industry, and educating our community is what drives my passion for this role. What does relationship-focused leadership mean to you and how do you exemplify it in the workplace and in your community?To me, relationship-focused leadership means actively listening, showing empathy, maintaining consistent communication and demonstrating a genuine commitment to others’ wellbeing. The relationships we build extend beyond professional interactions – they are founded on trust, collaboration, and connections, making every day fullling and rewarding. While I continue to master these skills, I lead by example and am better equipped to cultivate long-term, meaningful relationships that inspire condence in others.Finally, what recommendations do you have for EBL members looking to engage with the association? Dive in – the VBA offers events tailored for everyone. The key is identifying which opportunities align with your personal and professional growth. I highly recommend discussing your goals with your direct manager and developing a growth plan that supports both your success and your bank’s objectives. Additionally, explore the VBA’s Emerging Bank Leaders website or Facebook group to connect with your local EBL Regional Director or committee members. They’re always eager to share insights about upcoming events and how the EBL has positively impacted their personal and professional development.A. A. A. A. Q.Q.Q.Q.More than 90 bankers and industry partners joined us in Charlottesville for the 2024 Leadership Conference on November 14-15. This annual event designed for emerging banking leaders gives attendees the opportunity to share ideas and network with peers from across the state. Sessions at the event included an economic outlook; bank CEO/executives panel; Transforming Transactions: The Rise of Realtime Payments and Fintech’s Latest Wave; Brave, Bold & Barefoot: A Champion’s Blueprint to Success; Leading for Tomorrow, Today; and Pursuing Your Dreams.Leadership CONFERENCEIn April and May 2025, nearly 175 attendees enjoyed a state of the industry update from President & CEO Bruce Whitehurst followed by a “Leadership Dialogues” panel that consisted of three bankers from each EBL region at our Burgers with Bruce Series.Thank You to the 2025 Panelists & Event Emcees!(Panelists listed in alphabetical order)Burgers with Bruce SERIESNORFOLK Jennifer Grant TowneBankAlvin Payne JPMorgan Chase BankLaura Wright Old Point National BankEmcee Kari Van Wassen Chain Bridge BankABINGDONKate Belcher Skyline National BankAmy Mellinger Powell Valley National Bank Vanessa Wynn Lee Bank & Trust Emcee David Cahill First Bank & Trust Co.LYNCHBURG Rosa Coffey Bank of BotetourtMichelle Gaydica First National BankJennifer Huffman Atlantic Union BankEmcee Zach McGill First National BankALEXANDRIA Joe Collum Burke & Herbert BankDavid Evinger Chain Bridge BankKatrina Pike Bank of ClarkeEmcee Darren Tully Capital BankHARRISONBURG Chris Biby United BankBarton Black F&M BankTracey Jenkins First Bank, VirginiaEmcee Jordan DeanPendleton Community BankRICHMONDKelly Beazley Bank of AmericaKevin HillChesapeake BankTaylor Quicke Citizens Bank & Trust Co. Emcee Jennifer Gegner C&F BankTo learn more about the EBL Regional Directors, please visit www.vabankers.org/internal-links/ 5-minutes-ebl-regional-directors. Emerging Bank LeadersREGIONAL DIRECTORSThe EBL is a group that connects Virginia’s emerging bank leaders to engage them in the future of the banking industry. The efforts and activities of the EBL are planned in partnership with the EBL Steering Committee, which includes the following regional directors:Northern Virginia DARREN TULLY Capital Bank DALE SCHUURMANBlue Ridge Bank ZACH MCGILLFirst National Bank JENNIFER GEGNER C&F BankJORDAN DEANPendleton Community BankSouthwest Virginia DAVID CAHILLFirst Bank & Trust Co.To read Jennifer's full Q&A, please visit www.vabankers.org/internal-links/get-know-jennifer-gegner-2025-ebl-chair. For event and program recaps, please visit www.vabankers.org/vba-event-program-recaps.
28 29From September 2024 to May 2025, eleven Virginia community college students participated in the Virginia Banking Fellows Program, a partnership with the Virginia Foundation for Community College Education (VFCCE). The VBA Education Foundation and four Virginia banks sponsored this program with a mission to provide opportunities for underserved community college students to pursue their academic goals, strengthen their leadership skills, and learn more about the banking industry.Each of the eleven students received a $7,000 scholarship to support tuition, books, fees and other expenses related to their education. The banking industry contributed an additional $3,000 per Fellow to cover educational elements and the administrative fees of the Program, for a total of $10,000 per Fellow and $110,000 in all. 2024-2025 Virginia Banking Fellows attended the following community colleges: • Central Virginia Community College • Danville Community College • Laurel Ridge Community College • Northern Virginia Community College • Reynolds Community College • Southwest Virginia Community College • Tidewater Community CollegeVirginia Banking FELLOWS PROGRAMVBA EDUCATION FOUNDATION | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | VBA EDUCATION FOUNDATIONGary R. ShookCHAIRMAN Community Bankers' BankWalter C. Ayers DIRECTOR EMERITUS VBA President & CEO 1983-2006Nathalia D. Artus Atlantic Union BankT. Patrick Collins TowneBankTimothy M. Duffee SouthState Bank, NAJeffrey V. Haley VBA Past ChairmanLeton L. Harding, Jr. Powell Valley National Bank Scott C. HarvardFirst Bank, VirginiaJennifer W. KnightingFirst Bank, Virginia Brandon C. LoreyBank of Clarke Thomas L. Rasey, Jr.The Farmers Bank of AppomattoxJeffrey M. Szyperski Chesapeake BankLitz H. Van DykeCarter BankDorothy M. Welch First Bank, VirginiaBruce T. WhitehurstVirginia Bankers AssociationSteven C. Yeakel, CAE Virginia Association of Community Banks2024-2025VBA EDUCATION FOUNDATION BOARDVBA EDUCATION FOUNDATION: YEAR IN REVIEW ‘25ABA Foundation FINANCIAL EDUCATION PROGRAMS2025 TEACH CHILDREN TO SAVE20BANKS REGISTERED4,000STUDENTSREACHED2024 GET SMART ABOUT CREDIT26BANKS REGISTERED1,410STUDENTSREACHEDAll registration numbers as of June 2025.Our school is in a very low-income area, and it was so wonderful to see the excitement on our students’ faces when they each got a book and the excitement when they got to answer the trivia questions. They have been so excited about reading!–2025 Bank Sponsored SchoolVirginiaREADS ONE BOOK PROGRAMIn March 2025, more than 17,000 Virginia students and their families from 41 Title 1 schools were able to participate in the statewide reading program, Virginia Reads One Book, thanks to nearly $125,000 of nancial support from the VBA Education Foundation and 22 Virginia banks. More than half of the total number of students participating in the 2025 program did so through Virginia banking industry sponsorship. More than 625 students registered to participate with 23 Virginia banks for the 2025 VBA Bank Day Scholarship Program. Banks hosted in-person and virtual meetings for the students and provided resources and information so the students could learn about banking, nancial services, career opportunities in the industry and the vital role banks play in their communities. A total of $28,500 was awarded from the VBA Education Foundation to 12 students on the basis of essays written about their experiences. Brenna Green, a senior at Abingdon High School in Vienna, was selected as this year’s statewide winner and received a $7,500 scholarship. Brenna was hosted by First Bank & Trust Co. Grace Fleshman, a senior at Rockbridge County High School, was named this year’s statewide runner-up winner and received a $5,000 scholarship. Grace was hosted by Bank of Botetourt.VBA Bank DaySCHOLARSHIP PROGRAMTo learn more about the 2025 winners, please visit www.vabankers.org/internal-links/get-know-2025-vba- bank-day-scholarship-program-winners. Contributions to the VBA Education Foundation Annual Fund Campaign ensure that the banking industry is able to continue supporting and growing statewide programs. • Atlantic Union Bank • Bank of America • Bank of Botetourt • Bank of Clarke • Benchmark Community Bank • Blue Ridge Bank • Burke & Herbert Bank • C&F Bank • Carter Bank • Chain Bridge Bank • Chesapeake Bank • Citizens Bank & Trust Company • Community Bankers' Bank Board of Directors, in memory of Riley Schwartz Tallent • Community Bankers’ Bank, in Memory of Lew Ewing • First Bank & Trust Co. • First Bank, Virginia • First National Bank • John Marshall Bank • Lee Bank and Trust Company • National Capital Bank of Washington • Oak View National Bank • Old Point National Bank • Powell Valley National Bank • Select Bank • SouthState Bank • Southern Bank and Trust Company • The Bank of Marion • TowneBank • Truist Bank • Virginia 1st • Virginia Association of Community Banks • VBA, VBA Management Services, Inc., and VBA Benets Corporation, in recognition of Scott Harvard’s years of service as VBA Education Foundation ChairmanThank you to the following banks and industry partners that contributed to the 2024 campaign:2024 VBA EDUCATION FOUNDATIONANNUAL FUND CAMPAIGNNUMBER OF BANK AND INDUSTRY PARTNER CONTRIBUTORS32NUMBER OF INDIVIDUAL CONTRIBUTORS40Total Amount Raised: $62,980Brenna Green 2025 STATEWIDE WINNERGrace Fleshman 2025 STATEWIDE
28 29From September 2024 to May 2025, eleven Virginia community college students participated in the Virginia Banking Fellows Program, a partnership with the Virginia Foundation for Community College Education (VFCCE). The VBA Education Foundation and four Virginia banks sponsored this program with a mission to provide opportunities for underserved community college students to pursue their academic goals, strengthen their leadership skills, and learn more about the banking industry.Each of the eleven students received a $7,000 scholarship to support tuition, books, fees and other expenses related to their education. The banking industry contributed an additional $3,000 per Fellow to cover educational elements and the administrative fees of the Program, for a total of $10,000 per Fellow and $110,000 in all. 2024-2025 Virginia Banking Fellows attended the following community colleges: • Central Virginia Community College • Danville Community College • Laurel Ridge Community College • Northern Virginia Community College • Reynolds Community College • Southwest Virginia Community College • Tidewater Community CollegeVirginia Banking FELLOWS PROGRAMVBA EDUCATION FOUNDATION | vabankers.orgVIRGINIA BANKING ANNUAL | 2024-2025 | VBA EDUCATION FOUNDATIONGary R. ShookCHAIRMAN Community Bankers' BankWalter C. Ayers DIRECTOR EMERITUS VBA President & CEO 1983-2006Nathalia D. Artus Atlantic Union BankT. Patrick Collins TowneBankTimothy M. Duffee SouthState Bank, NAJeffrey V. Haley VBA Past ChairmanLeton L. Harding, Jr. Powell Valley National Bank Scott C. HarvardFirst Bank, VirginiaJennifer W. KnightingFirst Bank, Virginia Brandon C. LoreyBank of Clarke Thomas L. Rasey, Jr.The Farmers Bank of AppomattoxJeffrey M. Szyperski Chesapeake BankLitz H. Van DykeCarter BankDorothy M. Welch First Bank, VirginiaBruce T. WhitehurstVirginia Bankers AssociationSteven C. Yeakel, CAE Virginia Association of Community Banks2024-2025VBA EDUCATION FOUNDATION BOARDVBA EDUCATION FOUNDATION: YEAR IN REVIEW ‘25ABA Foundation FINANCIAL EDUCATION PROGRAMS2025 TEACH CHILDREN TO SAVE20BANKS REGISTERED4,000STUDENTSREACHED2024 GET SMART ABOUT CREDIT26BANKS REGISTERED1,410STUDENTSREACHEDAll registration numbers as of June 2025.Our school is in a very low-income area, and it was so wonderful to see the excitement on our students’ faces when they each got a book and the excitement when they got to answer the trivia questions. They have been so excited about reading!–2025 Bank Sponsored SchoolVirginiaREADS ONE BOOK PROGRAMIn March 2025, more than 17,000 Virginia students and their families from 41 Title 1 schools were able to participate in the statewide reading program, Virginia Reads One Book, thanks to nearly $125,000 of nancial support from the VBA Education Foundation and 22 Virginia banks. More than half of the total number of students participating in the 2025 program did so through Virginia banking industry sponsorship. More than 625 students registered to participate with 23 Virginia banks for the 2025 VBA Bank Day Scholarship Program. Banks hosted in-person and virtual meetings for the students and provided resources and information so the students could learn about banking, nancial services, career opportunities in the industry and the vital role banks play in their communities. A total of $28,500 was awarded from the VBA Education Foundation to 12 students on the basis of essays written about their experiences. Brenna Green, a senior at Abingdon High School in Vienna, was selected as this year’s statewide winner and received a $7,500 scholarship. Brenna was hosted by First Bank & Trust Co. Grace Fleshman, a senior at Rockbridge County High School, was named this year’s statewide runner-up winner and received a $5,000 scholarship. Grace was hosted by Bank of Botetourt.VBA Bank DaySCHOLARSHIP PROGRAMTo learn more about the 2025 winners, please visit www.vabankers.org/internal-links/get-know-2025-vba- bank-day-scholarship-program-winners. Contributions to the VBA Education Foundation Annual Fund Campaign ensure that the banking industry is able to continue supporting and growing statewide programs. • Atlantic Union Bank • Bank of America • Bank of Botetourt • Bank of Clarke • Benchmark Community Bank • Blue Ridge Bank • Burke & Herbert Bank • C&F Bank • Carter Bank • Chain Bridge Bank • Chesapeake Bank • Citizens Bank & Trust Company • Community Bankers' Bank Board of Directors, in memory of Riley Schwartz Tallent • Community Bankers’ Bank, in Memory of Lew Ewing • First Bank & Trust Co. • First Bank, Virginia • First National Bank • John Marshall Bank • Lee Bank and Trust Company • National Capital Bank of Washington • Oak View National Bank • Old Point National Bank • Powell Valley National Bank • Select Bank • SouthState Bank • Southern Bank and Trust Company • The Bank of Marion • TowneBank • Truist Bank • Virginia 1st • Virginia Association of Community Banks • VBA, VBA Management Services, Inc., and VBA Benets Corporation, in recognition of Scott Harvard’s years of service as VBA Education Foundation ChairmanThank you to the following banks and industry partners that contributed to the 2024 campaign:2024 VBA EDUCATION FOUNDATIONANNUAL FUND CAMPAIGNNUMBER OF BANK AND INDUSTRY PARTNER CONTRIBUTORS32NUMBER OF INDIVIDUAL CONTRIBUTORS40Total Amount Raised: $62,980Brenna Green 2025 STATEWIDE WINNERGrace Fleshman 2025 STATEWIDE
30 31TITLE AGENCIES, VMBA & VBA STAFF | vabankers.orgVBAMULTI-BANK TITLEAGENCY PROGRAMMSI continued its role managing the Virginia Mortgage Bankers Association (VMBA) over the past year. Most importantly, the VMBA worked closely with its lobbyist to navigate the 2025 General Assembly session and address proposed legislation affecting the Virginia mortgage industry. The VMBA also works to provide its members with opportunities for professional development through their annual Loan Ofcer Summit and the VMBA Annual Convention. VirginiaMORTGAGE BANKERS ASSOCIATION (VMBA)Virginia Banking Annual is a supplement to Virginia Banking Monthly. Copyright 2025. GRAPHIC DESIGN BY MAGGIE WILHELM DESIGN. VIRGINIA BANKING ANNUAL IS PRINTED BY CONQUEST GRAPHICS. Statements of fact and opinion are made on the responsibility of the authors and do not imply an opinion or endorsement on the part of the ofcers or members of VBA.Over the past year, the VBA, though Management Services, Inc. (MSI), was pleased to support the title agencies. In 2024, we had a protable year with a combined revenue increase of over 8.5% over last year. Since inception the agencies have paid out over $73 million in combined dividends. We remain dedicated to providing exceptional customer service and ensuring our services are fully RESPA compliant. A big thank you to our employees for all your hard work and success, and we would also like to thank our owners for their continued support. If your bank is interested in learning more about the income potential of joining one of our agencies, please reach out to Tracy Ottinger to discuss. Marie BasilAdministrative Assistant, Education & Training and VMBA Amy BinnsVP, Industry PartnershipsAnne Boerner AccountantMatt BruningEVP, Government & Member RelationsTammy ClarkAccounts Payable & Accounts Receivable SpecialistMichele DunnEvent PlannerKellee EdelinProject Manager, MSIDatabase Manager, VBA Todd HancockIT AdministratorSuzanne JenkinsSenior Accounting ManagerDeMarion Johnston, Esq. General Counsel & Corporate SecretaryWalt LyonsVP, Education & Training and VMBA Executive DirectorTristan MacdonaldVP, Government & Member RelationsMonica McDearmon VP, Communications & Financial Education Carla Moore HR DirectorTracy OttingerSVP, MSI Managing Director, Title AgenciesChandler OwdomSVP, Communications & Strategy Stacy PuckettCFOGail QueenTraining & Registration CoordinatorKristen ReidVP, Education & Training Rachel Weatherby Administrative AssistantBruce Whitehurst President & CEO Lea BacharachEmployee Benets Client Support SpecialistCindy BeazleyBenets CoordinatorPam ConnellySenior Director, Benet Plan AnalysisLaurie MilliganPresident & COOClaire PollockRetirement Plans ManagerJohn SneadSVP, Member RelationsBobbi WeimerSenior Director, Benet Operations & ComplianceVBA StaffVBA Benets Corporation StaffEDITORIAL & EXECUTIVE OFFICE: 4490 Cox Road • Glen Allen, VA 23060 www.vabankers.orgSUBSCRIPTIONS: To subscribe to Virginia Banking, please visit www.vabankers.org/webform/subscribe-vba-publications.Meeting the higher education financing needs of your customersCreate and strengthen customer relationshipsGenerate referral fees while avoiding lending and loan administration105VMBA MEMBERSAS OF YEAREND 2024200ATTENDEESAT THE VMBA ANNUAL CONVENTION
30 31TITLE AGENCIES, VMBA & VBA STAFF | vabankers.orgVBAMULTI-BANK TITLEAGENCY PROGRAMMSI continued its role managing the Virginia Mortgage Bankers Association (VMBA) over the past year. Most importantly, the VMBA worked closely with its lobbyist to navigate the 2025 General Assembly session and address proposed legislation affecting the Virginia mortgage industry. The VMBA also works to provide its members with opportunities for professional development through their annual Loan Ofcer Summit and the VMBA Annual Convention. VirginiaMORTGAGE BANKERS ASSOCIATION (VMBA)Virginia Banking Annual is a supplement to Virginia Banking Monthly. Copyright 2025. GRAPHIC DESIGN BY MAGGIE WILHELM DESIGN. VIRGINIA BANKING ANNUAL IS PRINTED BY CONQUEST GRAPHICS. Statements of fact and opinion are made on the responsibility of the authors and do not imply an opinion or endorsement on the part of the ofcers or members of VBA.Over the past year, the VBA, though Management Services, Inc. (MSI), was pleased to support the title agencies. In 2024, we had a protable year with a combined revenue increase of over 8.5% over last year. Since inception the agencies have paid out over $73 million in combined dividends. We remain dedicated to providing exceptional customer service and ensuring our services are fully RESPA compliant. A big thank you to our employees for all your hard work and success, and we would also like to thank our owners for their continued support. If your bank is interested in learning more about the income potential of joining one of our agencies, please reach out to Tracy Ottinger to discuss. Marie BasilAdministrative Assistant, Education & Training and VMBA Amy BinnsVP, Industry PartnershipsAnne Boerner AccountantMatt BruningEVP, Government & Member RelationsTammy ClarkAccounts Payable & Accounts Receivable SpecialistMichele DunnEvent PlannerKellee EdelinProject Manager, MSIDatabase Manager, VBA Todd HancockIT AdministratorSuzanne JenkinsSenior Accounting ManagerDeMarion Johnston, Esq. General Counsel & Corporate SecretaryWalt LyonsVP, Education & Training and VMBA Executive DirectorTristan MacdonaldVP, Government & Member RelationsMonica McDearmon VP, Communications & Financial Education Carla Moore HR DirectorTracy OttingerSVP, MSI Managing Director, Title AgenciesChandler OwdomSVP, Communications & Strategy Stacy PuckettCFOGail QueenTraining & Registration CoordinatorKristen ReidVP, Education & Training Rachel Weatherby Administrative AssistantBruce Whitehurst President & CEO Lea BacharachEmployee Benets Client Support SpecialistCindy BeazleyBenets CoordinatorPam ConnellySenior Director, Benet Plan AnalysisLaurie MilliganPresident & COOClaire PollockRetirement Plans ManagerJohn SneadSVP, Member RelationsBobbi WeimerSenior Director, Benet Operations & ComplianceVBA StaffVBA Benets Corporation StaffEDITORIAL & EXECUTIVE OFFICE: 4490 Cox Road • Glen Allen, VA 23060 www.vabankers.orgSUBSCRIPTIONS: To subscribe to Virginia Banking, please visit www.vabankers.org/webform/subscribe-vba-publications.Meeting the higher education financing needs of your customersCreate and strengthen customer relationshipsGenerate referral fees while avoiding lending and loan administration105VMBA MEMBERSAS OF YEAREND 2024200ATTENDEESAT THE VMBA ANNUAL CONVENTION
32Discover® Debit Gives Yo u The Advantage.When it comes to your debit program, you should always have the upper hand. Discover® Debit puts you in control of the board with superior economics, marketing support, and personalized service. Checkmate. Debit that’s here for you.®Find out more at DiscoverDebit.com/WinStay One Move Aheadof the Competition5/14/25 2:35 PM5/14/25 2:35 PM