Bay Banks of Virginia in Kilmarnock has hired a veteran banker to oversee its operations around Richmond, Va.
The $487 million-asset Bay Banks said in a press release Wednesday that it had hired Gary Armstrong to serve as its Richmond market executive. Armstrong has spent the past 19 years in executive roles at Richmond-area banks, most recently as Richmond market president for the $3.2 billion-asset Park Sterling Bank in Charlotte, N.C.
Gary Armstrong has spent 19 years as a banker around Richmond, Va.
Armstrong had been chief lending officer at First Capital Bank in Henrico, Va., before its sale to Park Sterling last year.
“The vision is to bring a true community bank feel and customer experience to central Virginia,” Armstrong said in the release.
Last year Bay Banks agreed to buy Virginia Commonwealth Bank in Petersburg, Va.; that deal is expected to close later this quarter. The institution, which will have assets of more than $800 million, will move its headquarters to Richmond.
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