The founder, chairman and CEO of Carter Bank & Trust, Worth Carter Jr., died April 7, just over a week after the Martinsville, Va.-based bank announced that he had been diagnosed with cancer.

The bank is operating pursuant to its management succession plan, with Phyllis Karavatakis serving as president and chief administrative officer and James Haskins serving as vice chairman of the board of directors, according to the company's Form 8-K.