TowneBank announced its Board of Directors has elected Brad Schwartz as President and Chief Operating Officer succeeding J. Morgan Davis who will continue to serve as Chief Executive Officer.

“Brad joined our Towne family in 2016 with the merger of Towne and Monarch Bank, where he served as Chief Executive Officer. Since that time, he has played a significant role in the enhancement of our operational capabilities as well as his contribution to the more than doubling of our company’s assets and earnings since 2016,” said G. Robert Aston, Jr., Executive Chairman of the Board of Directors.

Schwartz has a B.S. in Business Administration from Longwood University, a Master of Business Administration from University of Richmond and is a graduate of Stonier Graduate School of Banking at Georgetown University.

He is a past member of the Board of Directors of the Federal Reserve Bank of Richmond, the Board of Visitors of Longwood University and is a current member of the Board of Directors of the Virginia Bankers Association.

Founded in 1999, TowneBank is a company built on relationships, offering a full range of banking and other financial services. Its business banking services include dealer financing, floorplan financing, financing for acquisition and expansion, equipment financing, and inventory financing.