NORTH GARDEN, VA, June 21, 2016 – The board of directors of Old Dominion National Bank announced the appointment of Mark S. Merrill of Arlington as president, chief executive officer and a director of the bank, succeeding the retiring William R. Klich.
Merrill will divide his time between the bank’s headquarters and its Fairfax County office, which opened in McLean last year as part of Old Dominion’s strategy for driving significant growth in Northern Virginia, particularly among small and mid-sized business customers.
“After assembling a new board of directors three years ago, one of our first orders of business was finding a leader with the expertise and bank-turnaround skills necessary to stabilize the business and position it for long-term financial health and prosperity,” Chairman Wesley Yuan said, noting that Klich joined the board in 2013 and was named president and CEO the following year. “Bill led the bank’s efforts to develop a new strategic plan, strengthen its balance sheet, enhance policies, procedures, marketing and technology, and assemble a new management team of experienced leaders with proven track records of success in commercial and community banking. We thank him for his contributions and we wish him the very best.”
Merrill, 39, joined Old Dominion as executive vice president in December 2015 after serving in a variety of senior executive leadership positions with community and commercial banks in Virginia, Maryland and Pennsylvania.
“At Old Dominion, we have an outstanding team of professionals who are dedicated to their loyal customers and excited about the opportunity to strengthen the bank’s competitive position and accelerating our growth in Northern Virginia and the Washington metro area,” Merrill explained. “In addition to talented employees, we have a highly engaged board and local shareholders who understand and support the course we’ve charted to secure Old Dominion’s future and realize its full potential. It’s an honor to serve them as their CEO.”
Old Dominion’s growth plans include opening and staffing new full-service branches in downtown Charlottesville and Northern Virginia.
“The board of directors recruited Mark in 2015 as part of our succession planning efforts, and Old Dominion has already benefited from his strategic planning and capital markets experience, his knowledge of the Washington banking market, and his focus on the importance of building high-performing teams through servant leadership,” Yuan added. “Mark is the right leader at the right time for Old Dominion.”
After starting his career in public accounting and in-house corporate finance roles, Merrill was named CFO of what became Tower Bancorp, overseeing significant merger and acquisition activity and multiple capital raises, including an initial public offering in March 2009 for the fastest-growing startup bank in Pennsylvania history. In 2012, Merrill was named CFO of Arlington’s Virginia Commerce Bancorp and in 2014 he served as executive vice president at Eagle Bancorp in Bethesda, MD. A certified public accountant, he graduated from Elizabethtown College with a bachelor’s degree in accounting.