Press Release

For more information, contact: G. William Beale- 804-256-0516, moc.enilnobbc@elaebb or Gary R. Shook- 540-222-7748, moc.enilnobbc@koohsg

MIDLOTHIAN, VA, May 29, 2020 – The Board of Directors of Community Bankers’ Bank Financial Corporation and its subsidiary Community Bankers’ Bank (CBB) are pleased to announce the election of Gary R. Shook as President and Chief Executive Officer effective July 13, 2020. Mr. Shook will become a member of the Boards as well.

Mr. Shook is a native Virginian and a graduate of the University of Virginia.  His prior executive experience includes being President and CEO of Middleburg Financial Corporation and Middleburg Bank and, most recently, President and Chief Banking Officer of Blue Ridge Bank and Chief Operating Officer of its holding company. He was selected by his peers to serve as Chairman of the Virginia Bankers Association for 2013-2014. He also serves in a committee role at the American Bankers Association and is on the executive committee of the Virginia Foundation for Independent Colleges.

Earl W. Worley, Jr., Chairman of the Board, stated, “The Board is extremely pleased that Gary will be joining the Community Bankers’ Bank as President and CEO.  Gary is a seasoned and talented banker who has held leadership roles at both the state and national levels within the banking industry.  We look forward to Gary’s leadership at Community Bankers’ Bank.”

Chairman Worley also stated, “The Board of Directors and the Staff of Community Bankers’ Bank is indebted to Billy Beale for his leadership and expertise.  Billy has led CBB back to profitability and has the Bank poised to continue as a leader in the Bankers Bank space in the Mid-Atlantic Region.  We are appreciative of all that has been accomplished with Billy at the helm.”

G. William (Billy) Beale, President, and CEO of Community Bankers’ Bank, added, “When I was hired to be the CEO of Community Bankers’ Bank in November 2018, I was asked to dig in and get the Bank pointed in the right direction. I want to thank the CBB team for responding well to my leadership. Together, we have returned the Bank to profitability and paid a dividend, for the first time in 10 years, to our shareholders. My time here has been a rewarding personal experience, as well as an opportunity to give back to the banking industry. My engagement was intended to be short term, while the Board and I searched for a permanent solution. Of all the potential leaders to whom we spoke, Gary Shook stood out.

“I have known Gary for almost 20 years. We have been business competitors, but also partners in advocating for the banking industry. I have seen his passion for community banking. Gary brings a proven ability to develop, communicate, and execute a strategy to Community Bankers’ Bank. He is a seasoned leader who brings a diverse skillset accumulated over almost 40 years in banking. I depart knowing CBB is good hands.”

Gary R. Shook commented, “I am so very pleased to join Community Bankers’ Bank as its President.  My many years as a community banker has allowed me to get to know many colleagues throughout Virginia as well as the other states that form the 5th Federal Reserve Bank operating district.  Having been a leader at several CBB shareholders, I have known the Bank and see its platform as a wonderful opportunity to grow its presence as an asset to those it serves.  Joining with the team at CBB, we will together diligently build upon the legacy of Billy and the Board going forward.”

About Community Bankers’ Bank

Community Bankers’ Bank is a state-chartered bankers’ bank that is owned and directed by independent community banks in the Fifth Federal Reserve District. It gives community banks unique and outstanding value by the economies of scale it creates as a bank-cooperative and always as a bank partner, never a competitor. It provides many of the products and services that banks need to operate and excel. Its competitive pricing and superior service make it a vital resource for community banks.  Visit our website or LinkedIn page to learn more.