Potomac Bankshares, Inc. and BCT-Bank of Charles Town Announce Shane Bell as Chief Financial Officer
Rhea-AI Summary
Potomac Bankshares (OTC: PTBS) has appointed M. Shane Bell as Executive Vice President and Chief Financial Officer, following Dean Cognetti's retirement. Bell brings over 22 years of banking experience and will oversee the company's financial activities, including financial planning, capital management, and investor relations.
Bell's extensive background includes implementing accounting standards, managing internal controls, and handling interest rate and liquidity risk. Prior to this role, he served as a Manager at Yount, Hyde & Barbour, PC. He holds a CPA license, a B.S. in Accounting from Frostburg State University, and completed coursework at prestigious institutions. Bell has been active in community service, serving on various boards and committees.
Positive
- Appointment of experienced CFO with 22 years of banking expertise
- New CFO brings strong background in financial controls and risk management
- Demonstrated experience in managing publicly-traded company compliance
Negative
- None.
News Market Reaction – PTBS
In the trading session that priced this news, PTBS gained 1.52%, 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.
Mr. Bell brings more than 22 years of banking experience to BCT where he was responsible for implementation of new accounting standards, designed and implemented internal controls over financial reporting, managed interest rate and liquidity risk, developed financial plans to support expansion into new markets and acquisitions of businesses, all while maintaining compliance with rules and listing standards of publicly-traded companies. Prior to becoming a banker, Mr. Bell served as a Manager with Yount, Hyde & Barbour, PC, for eight years where he provided audit, tax, and consulting services to clients in the banking industry, while collaborating with his team to expand services into the
"Throughout his career, Shane has established deep relationships with teammates, clients, and the community to deliver responsible financial oversight and guidance," stated Alice P. Frazier, President and CEO of BCT. "Shane is well positioned to build on Dean's legacy and lead us to further success in current and future markets as we develop the full breadth of BCT's capabilities, ultimately improving our clients' financial lives while strengthening BCT's bottom line."
In addition to holding a CPA license, Mr. Bell earned a B.S. in Accounting from Frostburg State University and completed coursework through the AICPA National Banking School at the University of
Mr. Bell is the embodiment of a community banker. He currently serves on the Board of Directors and Finance Committee of Blue Ridge United, a non-profit organization that provides access to youth soccer to more than 1,800 athletes in the region. Previous community service includes serving as the Treasurer of the Board of Trustees of Braddock Street United Methodist Church, a board member and officer of non-profit organizations that support public school programs, and a volunteer coach and manager for youth athletic teams in his community.
Mr. Bell is a long-time resident of the
About the Company
Founded in 1871, Bank of
The Company's shares are quoted on the OTC Pink Sheet marketplace under the symbol "PTBS." For more information about Potomac Bancshares, Inc. and the Bank, please visit our website at www.mybct.bank.
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SOURCE Potomac Bancshares, Inc.