VIRGINIA NATIONAL BANKSHARES CORPORATION ANNOUNCES PLANNED LEADERSHIP TRANSITION

Rhea-AI Summary

Virginia National Bankshares (NASDAQ: VABK) announced a planned leadership transition: Chief Financial Officer Tara Y. Harrison will retire and serve as Senior Advisor while Cathy W. Liles becomes CFO effective November 21, 2025. The company highlighted an orderly handoff backed by the two executives' prior association and committee work.

Management noted that under Ms. Harrison the bank grew from $800 million to $1.6 billion in assets. Ms. Liles brings multi-year banking finance and audit experience as the primary financial leader of similar-sized organizations.

Positive

• CFO transition effective Nov 21, 2025
• Outgoing CFO will serve as Senior Advisor to support handoff
• Bank assets grew from $800M to $1.6B during outgoing CFO tenure

Negative

• Long-serving CFO is retiring, creating an executive-level leadership change

CHARLOTTESVILLE, Va., Nov. 19, 2025 /PRNewswire/ -- Virginia National Bankshares Corporation (NASDAQ: VABK) (the "Company") today announced the planned retirement of Chief Financial Officer, Tara Y. Harrison, and the hiring of Cathy W. Liles to seamlessly transition into this executive level position. Ms. Liles will become Chief Financial Officer effective November 21, 2025, and Ms. Harrison will serve as Senior Advisor indefinitely until retirement and work closely with Ms. Liles and other members of senior management of the Company to ensure an orderly transition.

President and Chief Executive Officer's comments : "It's always tough to lose a critical member of your team, but I truly understand Tara's decision," stated Glenn W. Rust, President and Chief Executive Officer. "Tara served the bank well for many years, which during that time included a merger, several industry sector crises, Covid, and a ton of new bank regulations and laws. Through all these challenges, the bank grew from $800 million to $1.6 billion in assets and became one of the more profitable community banks in Virginia. I expect this transition to smoothly progress because of the professionalism of both Tara and Cathy, their previous association, and both individuals' desire to assist one another in the transition period."

"It has been a privilege to serve as CFO of this great Company and Bank," said Ms. Harrison. "I look forward to working with Cathy during this transition. Cathy and I have served together on the CFO Committee of the Virginia Bankers Association for many years and I am confident that she has the skills and experience to succeed in this role." Ms. Harrison, who recently became a grandmother, plans to spend more time with family and friends and serve her church and other volunteer organizations.

Ms. Liles brings many years of industry experience to Virginia National Bankshares Corporation and Virginia National Bank. She has served as the primary financial and accounting leader of similar sized organizations and has a strong audit, accounting and financial background. Ms. Liles commented, "I am excited to begin this new chapter as Chief Financial Officer of Virginia National Bankshares. It is an honor to join an exceptional leadership team that shares my passion for community banking. Together, we will continue building on the Company's strong foundation to deliver lasting value for our shareholders, clients and communities."

About Virginia National Bankshares Corporation

Virginia National Bankshares Corporation, headquartered in Charlottesville, Virginia, is the bank holding company for Virginia National Bank. The Bank has seven banking offices throughout Fauquier and Prince William counties, four banking offices in Charlottesville and Albemarle County (including one limited-service banking facility), and banking offices in Winchester and Richmond, Virginia. The Bank offers a full range of banking and related financial services to meet the needs of individuals, businesses and charitable organizations, including the fiduciary services of VNB Trust and Estate Services. The Company's common stock trades on the Nasdaq Capital Market under the symbol "VABK." Additional information on the Company is also available at www.vnbcorp.com.

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SOURCE Virginia National Bankshares Corporation

FAQ

Who is replacing Tara Y. Harrison as CFO of Virginia National Bankshares (VABK)?

Cathy W. Liles will become Chief Financial Officer effective November 21, 2025.

When does the CFO transition at Virginia National Bankshares (VABK) take effect?

The new CFO appointment is effective on November 21, 2025.

Will Tara Y. Harrison remain with Virginia National Bankshares (VABK) after retirement?

Yes. Tara Y. Harrison will serve as Senior Advisor indefinitely to support the transition.

How large were Virginia National Bankshares' assets under Tara Harrison's tenure?

Management reported assets grew from $800 million to $1.6 billion during her tenure.

What experience does new CFO Cathy W. Liles bring to VABK?

Ms. Liles has multi-year industry experience as the primary financial and accounting leader of similar-sized organizations with audit and accounting expertise.

What does the VABK CFO change mean for shareholders in the near term?

The company describes an orderly transition with the outgoing CFO as advisor; shareholders should note an executive-level change effective Nov 21, 2025.