Blue Ridge Bankshares, the holding company of Blue Ridge Bank and BRB Financial Group, appointed G. William Beale CEO of the bank, effective immediately. Brian K. Plum will continue as president and CEO at the holding company and focus on broader strategy, technology and business line initiatives to further advance the company’s strategy.
“Over the past 15 years, Blue Ridge Bank has grown from a small community bank to a leading Virginia bank with a robust deposit base, deep customer relationships and growing footprint,” Mensel D. Dean Jr., chairman of the board at Blue Ridge, said. “As we considered the growth opportunities available to the bank, in addition to the increasing complexity and challenges in the banking industry, we believe it is important to add depth and experience to our team so we can continue to effectively build on the strong foundation that Brian and the team have created. Billy is a seasoned banking executive with a deep understanding of the regional banking sector and the board is confident that we will benefit greatly from his operational expertise.
“We are pleased that Brian will continue to lead our holding company. As CEO over the last eight years, he has overseen the bank’s tremendous growth and brand recognition, developed diversified income sources and modernized our operations and capabilities. We expect to continue to benefit from his guidance in his role at the company and are excited about what Brian, Billy and our talented team will achieve together.”
Beale previously served as the president and CEO of Community Bankers Bank from November 2018 to July 2020, and currently remains on its board. From May 1989 to March 2017, Beale worked for Union Bank & Trust (now known as Atlantic Union Bank) and was appointed CEO in 1991. During his tenure, he grew the bank’s total assets from $180 million to $8.5 billion. Prior to Union Bank & Trust, he worked as both an executive and commercial lender for Capital Bank and Security Bank from 1971 to 1989.
“I am excited to have the opportunity to join this team at a critical time in the banking industry,” Beale said. “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. Together we will continue to execute our strategies to grow the franchise and enhance the bank’s fee-based business. I look forward to working with the board, Brian and the rest of the management team to reach even greater heights.”
“The Blue Ridge team has accomplished a tremendous amount working together in recent years,” Plum said. “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. I have watched and admired Billy’s success during my career and am incredibly pleased to have him join Blue Ridge as a teammate. I am looking forward to building on Blue Ridge’s success together.”
