Press Release

Top Virginia Beach Commercial Banker, Steve Layden, Joins Virginia Commonwealth Bank

Experienced banking professional will generate new commercial relationships in the Hampton Roads region

Company Release - 10/5/2018 4:08 PM ET

RICHMOND, Va., Oct. 5, 2018 /PRNewswire/ -- Bay Banks of Virginia, Inc. (OTCQB: BAYK), holding company of Virginia Commonwealth Bank ("VCB") and VCB Financial Group, announces that Steve Layden, a 40-year local, commercial banking veteran has joined Virginia Commonwealth Bank as the Director of Business Development and C & I Lending for the Hampton Roads market. Today's announcement comes just after three months of establishing a VCB Commercial Banking office in the Sidney Kellam Building at the Virginia Beach Oceanfront, where VCB also has a full service retail branch.

Steve Layden, Director of Business Development and C&I Lending for the Hampton Roads Market

Layden most recently served as a Senior Commercial Lender with TowneBank following TowneBank's merger with Monarch Bank in 2016. Layden was President of Monarch Bank's Commercial and Industrial Lending and retail banking locations. Layden had spent 12 years with Gateway Bank/Bank of Hampton Roads as a Regional President.

"Steve's proven talent as a career commercial banker gives us a true competitive advantage as we plan to grow in the Hampton Roads region," says Randal R. Greene, Virginia Commonwealth Bank's Chief Executive Officer. "Our focus is on being the best financial resource for local businesses in the Virginia Beach area. Steve will be joining our established team of commercial bankers led by Ed Putney. We have brought together a talented group of commercial bankers who with their depth and strength of expertise and leadership will enable us to better align our resources to build relationships and drive results."

"This is a very exciting opportunity for me to join the commercial team at Virginia Commonwealth Bank.  I have always enjoyed being part of a community bank and helping to build a market," says Layden. "The vision is to bring our company's existing community bank culture and positive customer experience to this area, and provide the level of service that our local businesses and individuals are looking for and deserve."

Ed Putney, Senior Vice President, Hampton Roads Market Executive of Virginia Commonwealth Bank, shares Layden's and Greene's vision for supporting the local business community. "Steve is well-known for developing commercial business opportunities within the Hampton Roads region and particularly in the Virginia Beach market. He brings years of valuable experience to our team, acts quickly and decisively, and he has strong relationships with his clients. Steve's attributes, coupled with Virginia Commonwealth Bank's mission of maintaining a true community bank perspective and level of service in the business community, will be a tremendous benefit toward the bank's objective of expanding our market share in this area."

About Bay Banks of Virginia 

Bay Banks of Virginia, Inc. is the bank holding company for Virginia Commonwealth Bank and VCB Financial Group.  Founded in the 1930's, Virginia Commonwealth Bank is headquartered in Richmond, Virginia.  With 19 banking offices and a loan production office located throughout the Richmond market area, the Northern Neck region, Tri-Cities area of Petersburg, Hopewell and Colonial Heights, Middlesex County and Hampton Roads region, the bank serves businesses, professionals and consumers with a wide variety of financial services, including retail and commercial banking, investment services, and mortgage banking.  VCB Financial Group provides management services for personal and corporate trusts, including estate planning, estate settlement and trust administration.

For further information, contact Randal R. Greene, President and Chief Executive Officer, at 844-404-9668 or

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SOURCE Bay Banks of Virginia, Inc.

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