Bank of Lancaster Welcomes Matt Paciocco

KILMARNOCK, Va., Jan. 6, 2017 /PRNewswire/ -- Randal R. Greene, President and Chief Executive Officer of Bay Banks of Virginia, Inc. (OTCQB: BAYK), holding company of Bank of Lancaster and Bay Trust Company,  announces that Bank of Lancaster has hired Matt Paciocco as Senior Vice President, Commercial Banking. In this role, Mr. Paciocco's responsibility will be developing commercial banking relationships in the Richmond region by helping businesses achieve their financial aspirations.  

"We are pleased to welcome Matt to Bank of Lancaster," noted Greene. "Matt's commercial banking and leadership experience combined with his ability to contribute to successful growth and development makes him an excellent addition to our ever-expanding commercial lending team as we grow our organization and achieve service excellence for our customers within the Richmond market."

Mr. Paciocco joins Bank of Lancaster with more than 12 years of banking experience specializing in both retail and commercial banking in the Richmond region.  Mr. Paciocco most recently served as Vice President in commercial lending with Park Sterling Bank, recent acquirer of Richmond-based First Capital Bank.  

In accepting this position as Senior Vice President, Commercial Banking, Mr. Paciocco stated, "I am very excited to work with a great team of bankers here in Richmond to further strengthen the Bank of Lancaster brand by developing strong relationships with our banking customers and the community.  Through the recently announced upcoming merger with Virginia Commonwealth Bank, I am confident that our Bank is poised to become the primary community bank serving the Richmond market.  I am truly looking forward to being a part of our growth."

Bank of Lancaster continues to expand its team of seasoned professionals in the Richmond market.  During 2016, Bank of Lancaster grew its total assets by over 18.8 % and its loan portfolio by 18.9%, and is rapidly becoming a bank of choice in the Richmond market proven by the vote of RTD's "Best Bank in Richmond" Award.

About Bay Banks of Virginia  

Bay Banks of Virginia, Inc. is the bank holding company for Bank of Lancaster and Bay Trust Company.  Founded in 1930, Bank of Lancaster is a state-chartered community bank headquartered in Kilmarnock, Virginia.  With eight banking offices located throughout the Northern Neck region and in Middlesex County, and three banking offices in Richmond, Virginia, the bank serves businesses, professionals and consumers with a wide variety of financial services, including retail and commercial banking, investment services, and mortgage banking.  Bay Trust Company 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 800-435-1140 or inquiries@baybanks.com.

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SOURCE Bay Banks of Virginia, Inc.