John Neal will retire later this year as president of Union Bank & Trust in Richmond, Va.

Neal, 66, will step down on Dec. 31 after 24 years at the $7.5 billion-asset bank. Union Bank, a subsidiary of Union Bankshares, was known as Union First Market Bank from March 2010 to February 2015.

"He was key to our early growth," said spokesman Bill Cimino. "He's been a leader for Union since he's gotten here."

Neal's move to retire was a "personal decision," Cimino said.

William Beale, CEO of Union Bankshares, will assume Neal's title on his retirement.

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