The chief financial officer of Hampton Roads Bancshares (HMPR) in Virginia Beach, Va., is leaving for a job in commercial real estate finance.

Stephen Theobald is scheduled to leave the $2 billion-asset company March 31 and join Walker & Dunlop, a Bethesda, Md., real estate finance firm as executive vice president, CFO and treasurer on April 1.

Hampton Roads said it would conduct a search for Theobald's replacement.

Theobald had been executive vice president and CFO at Hampton Roads since 2010. Previously, he had held a variety of positions at Capital One Financial (COF) , including chief financial officer for local banking and chief financial officer for global financial services.

The position with Walker & Dunlop will allow him to be closer to his home in the Washington area, Theobald said.

Douglas Glenn, the president and chief executive of Hampton Roads, said that Theobald "has done an outstanding job of leading and enhancing our finance function and has played an important role in the execution of our plan to strengthen our balance sheet, improve operating efficiency and profitability, and become the premier community bank in our region."

Hampton Roads is the holding company for the Bank of Hampton Roads and Shore Bank. Last quarter, it lost $5.6 million, after losing $21.4 million in the fourth quarter of 2011.

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