Partners Bancorp Unit Virginia Partners Bank Announces Key Promotion and Hires, Expansion into Lucrative Greater Washington Market.

FREDERICKSBURG, Va., Dec. 07, 2020 (GLOBE NEWSWIRE) -- Virginia Partners Bank (the “Bank”) and its parent company, Partners Bancorp (NASDAQ: PTRS), announced today a key promotion and two key hires. 

Wallace N. King, Sr., Executive Vice President and Senior Loan Officer, has been promoted to Market President for the Greater Fredericksburg and Maryland regions, which covers commercial and retail banking in the Bank’s Fredericksburg, Virginia and La Plata and Annapolis, Maryland offices. Mr. King is a co-founder of the Bank and serves on the Bank’s board of directors.

David A. Talebian joins the Bank as President, and Adam G. Nalls joins the Bank as Executive Vice President and Chief Operating Officer. Messrs. Talebian and Nalls will lead the Bank’s expansion into the Greater Washington and Northern Virginia markets, a geography in which both have substantial experience. Their focus will be on government contracting and healthcare (medical, dental, and veterinary), along with other operating businesses with revenues from $1 million to $100 million. They will join the Bank’s executive management team. Prior to joining the Bank, both had been at Atlantic Union Bank. However, the bulk of their careers were at Access National Bank, which Atlantic Union Bank acquired in February, 2019. Mr. Talebian began his career at Access National Bank in 2007. Mr. Nalls joined Access National Bank in 2009, having previously worked at Provident Bank and PNC Bank. The Bank anticipates opening a full service branch in the Greater Washington area in 2021.

“We have had our eye on Greater Washington for quite a while,” said Lloyd B. Harrison, III, Chief Executive Officer of the Bank and of Partners Bancorp. “Mr. Talebian and Mr. Nalls bring the right mix of experience and contacts to lead what we expect to be a significant driver of balance sheet growth for the Bank over the next few years. Partners Bancorp raised just over $18 million in subordinated debt earlier this year, which should help provide more than sufficient capital to fund meaningful loan growth. In addition, Mr. Talebian and Mr. Nalls complete the next generation for our executive management team. With their background in community banking, they are dynamic additions to our company.”