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Carter Bank & Trust re-elects board of directors
Thursday, June 27, 2013
Worth H. Carter Jr. is 75, but do not look for him to give up the helm of Carter Bank & Trust any time soon.
“As long as my health holds and it’s still fun,” he said he will continue to work.
Carter, the board chairman and president of Carter Bank, made that comment Wednesday following the bank’s annual shareholders meeting at its Bank Services of Virginia Operations Center in Henry County.
Shareholders re-elected 21 members of the company’s board of directors at the meeting. Only one board member, Lanny A. Kyle, is below the age of 70.
Carter said after the meeting that the directors came from the original 10 independent commercial banks that were combined to form Carter Bank & Trust in December 2006. They have a lot of knowledge that continues to be valuable to Carter Bank, he said.
Carter said as the older directors leave the board, their seats will not be filled and the board will shrink.
That was the case with the death in the past year of Joseph L. Chandler, who had been a director since 1985. On Wednesday, shareholders approved changing the size of the board from 22 to 21 members to reflect his loss, Carter said.
Banks are required to have at least five members on their boards, and small banks generally have 9 to 12 members, Carter said. When the Carter board gets smaller, he said new members will be sought, especially from areas that the bank now serves but which have no representation on the board.
Directors re-elected Wednesday were:
• Carter, a director since 1976.
• Joseph L. Chandler, 79, a director since 1985. He is retired manufacturing manager with ABB Power T&D Co.
• Robert W. Conner, 73, a director since 1985. He is Halifax County Circuit Court clerk.
• Chester A. Gallimore, 76, a director since 1978. He is president of Wills Ridge Supply.
• Charles E. Hall, 71, a director since 1978 and a farmer.
• James W. Haskins, 72, a director since 1982. He is an attorney and principal with Young, Haskins, Mann, Gregory, McGarry and Wall, P.C.
• Walter P. Kingery, 81, a director since 1974 and a retired dairy farmer.
• Lanny A. Kyle, O.D., 59, a director since 2003 and an optometrist.
• George W. Lester II, 74, a director since 1976. He is chairman and CEO of Lester Group Inc.
• Harry L. Mapp Jr., 82, a director since 1985 and a retired attorney.
• Sidney D. Mason, 85, a director since 1974. He is retired chairman of Virginia Apparel Corp.
• E. Warren Matthews, 72, a director since 1998. He is an attorney with Harris, Matthews & Crowder, P.C.
• H. Marvin Midkiff, DDS, 87, a director since 1976. He is a retired doctor of dental surgery and principal in H.M. Midkiff DDS Ltd.
• Joseph E. Pigg, 77, a director since 1976. He is president of Millard’s Machinery Inc.
• Haller G. Prillaman, 79, a director since 1976. He is president of Prillaman Brothers Inc.
• Mary A. Ramsey, 88, a director since 1987. She is retired operator of the Chief Tassel Beauty Shoppe.
• N. Larry Roach, 74, a director since 1976. He is president of Larry Roach & Associates, Insurance Services Inc.
• Leo H. Scott, 80, a director since 1974 and president of Leo H. Scott Cabinets Inc.
• Simon C. Spencer, 77, a director since 1976. He is a retired assistant principal and lieutenant colonel in the Army.
• William B. Sumner, 71, a director since 1978 and the retired owner of the Floyd Press Inc.
• James M. Thompson, 82, a director since 1978. He is retired vice president and cashier of Patrick Henry National Bank.
• Betty A. Williams, 77, a director since 1978. She is retired advertising director of the Floyd Press Inc.
The directors will serve one-year terms until the 2014 annual meeting.