Bill Carr was appointed Peninsula market president at Midlothian, Va.-based Village Bank.
Carr leads the new venture in connection with the bank's announcement that it has entered the Williamsburg, Va., market with the establishment of a loan production office and a full-service branch.
Joining Carr is Mike Maddocks, who serves as senior vice president with a focus on commercial banking.
Carr most recently served as Peninsula market president at Monarch Bank, while Maddocks was Williamsburg City executive for Middleburg Bank.
Village Bank is a unit of Village Bank and Trust Financial Corp., which reported third-quarter net income available to common shareholders of $160,000, or 11 cents per share. That compares to the year-ago period's $11.7 million, or $8.21 per share, which was positively impacted by the reversal of a $12.0 million valuation allowance previously recorded against the net deferred tax asset, according to the release.
