Bank of Clarke Announces New Chair of the Board of Directors

Strategic Insights -

Cary C. Nelson of Winchester will become Chair of the Board of Directors at Bank of Clarke, replacing Thomas T. Gilpin who served as Chair since 2007. Ms. Nelson officially took over on May 20, 2025. As a seasoned accountant and executive, Ms. Nelson brings financial expertise and strategic thinking to the role, complementing Mr. Gilpin's broad knowledge and leadership skills.

Key Takeaways:

  • Cary C. Nelson has been appointed as the new Chair of the Board of Directors at Bank of Clarke, succeeding Thomas T. Gilpin.
  • Ms. Nelson, a Certified Public Accountant, has served on the Bank's Board since 2018 and brings over a decade of financial experience.
  • Thomas T. Gilpin, the outgoing Chair, served on the Board from 1986 to 2006 and as Chairman from 2007 to 2025, during which time the Bank grew significantly in assets, branches, and loan production offices.
  • Under Mr. Gilpin's leadership, Bank of Clarke expanded its services to include mobile banking, rebranded from Bank of Clarke County to Bank of Clarke, and uplisted to Nasdaq in February 2025.
  • The Bank's independence and integrity have been key to its success, according to Mr. Gilpin, who praised the Bank's ability to define its own identity, mission, and purpose.
  • Cary C. Nelson, the new Chair, is the first female to hold the position and brings a strong background in accounting and business leadership, having advised small businesses in the U.S. Peace Corps.
  • Brandon C. Lorey, Bank of Clarke's President & CEO, praised Ms. Nelson's experience and expertise, stating that she will bring strategic thinking and financial acumen to the role.

Statistics:

  • Bank of Clarke's assets have grown significantly under Mr. Gilpin's leadership, from $50M to $1.98B.
  • The Bank has expanded its branch network from 2 to 14 full-service branches and 2 loan production offices.
  • Bank of Clarke's workforce has increased, although exact numbers are not provided in the source material.
  • The Bank has rebranded and changed its name from Bank of Clarke County to Bank of Clarke.
  • Bank of Clarke uplisted to Nasdaq in February 2025.

Sources:

  • Bank of Clarke press release, BERRYVILLE, Va., June 12, 2025 /PRNewswire/
  • Original content: SOURCE Bank of Clarke