Blue Ridge Bank hires first chief development officer

Taps banking veteran Steve Farbstein for new role

Published April 2, 2021 by Jason Roop

Steve Farbstein has left his position at Cornerstone RPO to become Blue Ridge Bank’s first chief development officer, the bank recently announced.

Farbstein will be responsible for marketing, employee development and growing and maintaining lines of revenue at the bank, a subsidiary of Charlottesville-based Blue Ridge Bankshares Inc. — which completed a merger in February with Bay Banks of Virginia Inc., the parent holding company of Virginia Commonwealth Bank.

A graduate of the University of Richmond, Farbstein was vice president of business development at Richmond-based recruitment process outsourcing company Cornerstone RPO. He brings more than 30 years of experience, including serving as head of mortgage banking at Park Sterling Bank, now South State Bank, and StellarOne Bank.

Farbstein is a former chair of the Mortgage Executives Committee at the Virginia Bankers Association and the Richmond Mortgage Bankers Association. A longtime volunteer with the The March of Dimes, he recently finished a term as national chair of its volunteer leadership council.

Bank President and CEO Brian K. Plum called Farbstein a “principled, measured and thoughtful leader” in a statement.

“He has a passion for great culture, and his leadership will be invaluable as we continue improving upon our culture and business practices,” Plum said. “Steve will play a critical role in helping us unlock existing potential and capturing all that’s possible with our multiple business lines. His addition is a force multiplier for our team.”

Farbstein said in the announcement that he was looking forward to “playing a key role in Blue Ridge’s rapidly evolving brand and culture.”

Subscribe to Virginia Business.

Get our daily e-newsletter.