Industries Banking/Finance

TowneBank names new chief financial officer

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Portsmouth-based TowneBank has promoted William B. Littreal to senior vice president and chief financial officer.

Littreal, a certified public accountant, will succeed Clyde E. McFarland Jr., the bank’s founding CFO, who is retiring in March.

G. Robert Aston Jr., the bank’s chairman and CEO, said in a statement that Littreal has played a major role in many acquisitions in the company’s banking, insurance and real estate segments.

Littreal joined the bank in 2008 and has been chief strategy officer and director of investor relations since 2016. His previous executive positions at the bank have included chief operating officer and finance director.

Before joining TowneBank, he had been the CFO of another publicly traded financial institution.

Littreal holds a bachelor’s degree in accounting from Christopher Newport University and a master’s degree in information technology management from the University of Virginia. He and his family live in Toano.

TowneBank operates 40 offices in Virginia and North Carolina. The bank recently acquired Raleigh, N.C.-based Paragon Commercial Corp. raising its total assets to $10.5 billion.

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