Parkway in western Virginia lines up next CEO

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Parkway Acquisition in Floyd, Va., will have a new leader in 2019.

The $700 million-asset parent of Skyline National Bank said in a press release Monday that J. Allan Funk plans to retire as president and CEO on Dec. 31. Funk will also step down from the company’s board.

Blake Edwards Jr., Parkway’s chief financial officer, will succeed Funk, who was 54 when the company filed its proxy statement in April. Edwards, 53, has been with the company and its predecessor since 1999.

"We thank Allan for his years of leadership and dedicated service,” Thomas Jackson Jr., Parkway’s chairman, said in the release. "Allan and Blake have worked side by side for the last 10 years to increase the earnings capacity of our bank through a number of strategic initiatives, including two mergers. … Together they have built an excellent foundation for the continued success of our bank."

"This is an excellent time to transition leadership of the bank," Funk said in the release. “With the recent merger with Great State Bank now complete and our combined operations off to a successful start, Blake and [our] team are poised to capitalize on the foundational work that we have been doing these last several years."

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