Hampton Roads Bankshares Inc. in Norfolk, Va., has named a special assets executive, Denny P. Cobb, chief credit officer for one of its banking units.
In this new role with Bank of Hampton Roads, Cobb will report to Robert J. Bloxom, the $2.4 billion-asset company's chief risk officer, according to a press release on Thursday. For the last year, Cobb has worked as senior vice president and special assets officer for the banking unit. Before that, he provided special assets consulting services to the company through Midway Ventures LLC.
Cobb also previously served as senior vice president of the real estate finance group at SunTrust Bank. He worked for 25 years in real estate and commercial real estate finance positions at banks in the eastern Virginia region.
"Denny has been instrumental in our efforts to reduce our portfolio of problem assets through his leadership in our special assets department," Douglas J. Glenn, the company's interim president and chief executive, said.
Hampton Roads has not made a profit since the first quarter of 2009. Last month, the company reported a third-quarter loss of $26.7 million, but said that
Much of the company's credit problems stem from its acquisition of the troubled Gateway Bank & Trust Co. in May 2009. As part of an effort to refocus on community banking in its core markets, Hampton Roads has recently shed mortgage http://www.americanbanker.com/issues/176_114/hampton-roads-selling-its-mortgage-business-1038961-1.htm and insurance subsidiaries it inherited in the Gateway deal and announced plans to
