The president and chief executive of Pinnacle Bankshares Corp. in Altavista, Va., is retiring.

Robert Gilliam Jr., will leave in a "midyear 2011 time frame," the $303.5 million-asset company said Tuesday in a press release. Aubrey Hall 3rd, who became the chief operating officer at Pinnacle's bank earlier this month, will succeed Gilliam.

Hall is expected to join Pinnacle's board in April. Gilliam plans to leave that body when he retires.

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