Virginia Commonwealth Bank President C. Frank Scott III will retire, effective June 30.

Scott intends to continue as chairman of Bay Banks of Virginia Inc., the holding company of Virginia Commonwealth Bank.

Virginia Commonwealth Bank CEO Randal Greene will add the president role, effective July 1. Greene is also vice chairman, president and CEO of Bay Banks of Virginia.

In addition, Bay Banks of Virginia named Michael Troutman executive vice president of the company and the bank. Troutman was also named chief revenue officer of Virginia Commonwealth Bank. He previously held various leadership roles at BB&T, including most recently in Newport News, Va., as senior vice president and market president.