Blue Ridge Bank names CEO
Billy Beale to lead bank; Brian Plum remains parent's CEO
G. William “Billy” Beale became CEO of Blue Ridge Bank National Association on Sunday, giving the bank a leader separate from that of its parent company, Charlottesville-based Blue Ridge Bankshares Inc.
“I am excited to have the opportunity to join this team at a critical time in the banking industry,” Beale said in a statement. “Blue Ridge Bank has a unique community banking model with strong credit quality, diverse revenue streams, robust local market teams and sophisticated and innovative products.”
Brian K. Plum will remain the holding company’s president and CEO, focusing on broader strategy, technology and business line initiatives.
“Billy joining the team to lead Blue Ridge Bank provides the company with an experienced and successful bank executive who will be additive as we work to create shareholder value,” Plum said in a statement. “I have watched and admired Billy’s success during my career and am incredibly pleased to have him join Blue Ridge as a teammate.”
From November 2018 to July 2020, Beale was president and CEO of Midlothian-based Community Bankers’ Bank and he still serves on that bank’s board. Before that, Beale was CEO of Richmond-based Union Bank & Trust, now known as Atlantic Union Bank. During his tenure, from 1991 to March 2017, the bank’s total assets grew from $180 million to $8.5 billion. Beale joined a forerunner of the bank in 1989. From 1971 to 1989, Beale was an executive and commercial lender for Capital Bank and Security Bank, in Texas.
Beale received his bachelor’s degree in business administration from The Citadel, in South Carolina, in 1971, and he graduated from the Southwestern Graduate School of Banking at Southern Methodist University in 1981.
Chartered in 1893, Blue Ridge Bank has 26 locations in Virginia and one in North Carolina. As of March 31, Blue Ridge Bankshares Inc. had $3.33 billion in assets. At 11:10 a.m. on Monday, the company’s share price was $7.96, up 5.71% from its previous close price.