Bank of Botetourt Board of Directors Elects Tommy L. Moore As New Chairman
Rhea-AI Summary
Bank of Botetourt (OTCPK: BORT) has elected Tommy L. Moore as its new Chairman, succeeding H. Watts Steger, III, who retired after serving since 2001. Moore, a Board member since 1982 and current Circuit Court Clerk for Botetourt County, brings extensive legal and community experience. His past military service as a JAG Officer in the Marine Corps and involvement in various local organizations highlight his commitment to the region. Bank President G. Lyn Hayth, III expressed confidence in Moore's leadership for future growth.
Positive
- Election of Tommy L. Moore as Chairman may bring fresh perspectives.
- Moore's extensive community involvement may enhance the bank's local engagement.
Negative
- Transition in leadership might create continuity concerns.
- Moore's lack of banking-specific experience could pose challenges.
News Market Reaction – BORT
In the trading session that priced this news, BORT gained 1.03%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BUCHANAN, Va., June 3, 2021 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT) is pleased to announce that its Board of Directors voted to elect Tommy L. Moore to serve as its new Chairman following the retirement of H. Watts Steger, III. Mr. Steger served as a Director from 1976-2021, including serving as Chairman since 2001. Mr. Moore has been on the Board since 1982 and currently serves as the Circuit Court Clerk for Botetourt County.
Mr. Moore served four years active duty as a JAG Officer in the United States Marine Corps and 32 years in the Marine Corps Reserve. He is an alumnus of Hampden Sydney College (1972) and the University of Virginia School of Law (1975). Following active duty, he practiced law in Botetourt County from 1979-1991. In 1991, Mr. Moore was elected to be the Circuit Court Clerk for Botetourt County. He has been active in the Virginia Court Clerks Association and has for the past 30 years served on its Education Committee and Convention Committee. He has also served as President of the Association.
Mr. Moore serves on the Board of Directors for the Botetourt Education Foundation, the Botetourt Resource Center, Inc. and Limestone Park Ministries, Inc. Since 1979 he has been actively involved with Mill Creek Baptist Church, serving as a teacher, trustee and deacon and in various other leadership and mission positions. Mr. Moore has served on numerous boards throughout the region including the Western Virginia Historical Society and the Virginia Western Advisory Board, where he served as chair.
Bank President & CEO, G. Lyn Hayth, III stated, "Throughout the years, Tommy Moore has helped to provide a conservative approach to growth for the bank. The Board and I are looking forward to working with him as Chair. He will lead with steadfast guidance and care for the Bank and the communities in which we are represented."
Bank of Botetourt was chartered in 1899 and operates twelve retail offices in Botetourt, Rockbridge, Roanoke, and Franklin counties and the City of Salem, all in Virginia. Bank of Botetourt also operates a mortgage division, Virginia Mountain Mortgage and a financial services division, Botetourt Wealth Management.
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SOURCE Bank of Botetourt