A veteran Richmond banker has gone rural.
Vera Primm last week left her post at Midlothian-based Bank of Virginia to become CFO of Citizens Community Bank in South Hill, Va. She took the position May 1.
Citizens Community is the third bank Primm has worked for in the past year. She joined Bank of Virginia on an interim basis in October after her previous employer, Richmond-based Peoples Bank of Virginia, was acquired in a $40 million deal.
Primm, 58, was with Peoples Bank from its opening in 2002 until the acquisition.
Before joining Peoples, she was CFO at the former F&M Bank for 10 years until its acquisition by BB&T.
Primm referred all questions about her new position to the bank’s marketing department or CEO James Black. Black could not be reached for comment by press time.
A Northern Neck native, Primm graduated with a degree in mathematics and classical studies from Mary Washington College.
At Citizens Community Bank, Primm joins a $160 million institution that was founded in 1999. It is headquartered about 80 miles southwest of Richmond and has four locations across south-central Virginia.
The bank reported a loss of $972,000 in 2012, according to its financial filings. It also posted a loss of $1 million in the first quarter of 2013.
Part of that loss was due to handling $5.7 million in past due and non-accrual loans at the end of the first quarter, according to its filings. That number was down almost $2 million from the end of 2012.
Bank of Virginia has seen a number of CFOs come and go in recent years as it has transitioned into its new ownership structure.
The bank is now wholly owned by Cordia Bancorp, a holding company that bought control of the bank beginning in 2010.
Cordia’s acting CFO is David Bushnell. He previously worked 22 years for Citigroup.
I’ve heard great things about Ms. Primm…congratulations on your new endeavor.
On another note, it is interesting the number of CFO’s Bank of Virginia has had since new management took over.