Phil Smith, CEO

Phil Smith has over 17 years of Commercial Banking experience and previously served as Executive Vice President, Commercial Lending at TowneBank.  TowneBank is a $16 billion asset size Bank headquartered in Suffolk, VA and is the only Community Bank in the U.S. with a #1 market share in a top 50 Metropolitan Statistical Area (MSA).   Phil managed a portfolio focused primarily on financing Commercial Real Estate (CRE), Working Capital, Permanent Capital, and Equipment for closely held companies.  Phil was a top performing lender at TowneBank achieving the coveted Chairman’s Club Award for 11 consecutive years.  

Phil’s CRE experience includes land acquisition, land development, construction, single family subdivisions, multifamily, hotels, shopping centers, retail, industrial, and self storage. 

Phil graduated from Christopher Newport University with a Bachelor’s in Business Administration with a concentration in Finance, was a top 10 graduate of the Virginia Bankers Association School of Bank Management at the University of Virginia, TowneBank Management Associate Program, and Vann H. Lefcoe Leadership Development Program.  He formerly Chaired the Investment Committee for the City of Portsmouth and served as Chairman of Pension Board for the City of Portsmouth.   He was named as an Inside Business Top 40 Under 40 in 2011.  He currently serves on the board of directors for 504 Capital Corporation, a Certified Development Corporation by the U.S. Small Business Administration serving Virginia, Washington D.C., Maryland, and North Carolina and also serves as the Treasurer of the Roc Solid Foundation.  He and his wife, Ginny, and their four children currently reside in Suffolk, VA.