There’s been a shake-up on the Virginia National Bank board, Hawes Spencer wrote for The Hook last week. Mark Giles, the chairman and founding president of the local bank, quit the board effective immediately on December 19, along with Claire Gargalli and Leslie Disharoon; UVA neurosurgeon Neal Kassell left a couple of days later. Spencer writes that the initial three resignations resulted from “a disagreement over the composition of its board of directors,” though nothing specific is public yet. Though it may be unrelated, it cannot go without note that board members Hunter Craig and Wick McNeely appear to be in serious financial trouble as a result of their investments in the failed Biscuit Run housing development. To the extent to which their personal financial wellbeing is tied up in VNB stock, their short-term interests for the bank may deviate from other members’.
Giles’ departure from the board is particularly notable. More than any other individual, Giles has been the face of VNB.