J. Allan Funk is retiring as president and chief executive officer of both Skyline National Bank and holding company Parkway Acquisition Corp. at the end of this year in what the company is calling conclusion of “a transitional period” that created the regional bank from financial institutions in Floyd and Independence and added other properties in recent years.
Chief financial officer and senior executive vice president Blake M. Edwards will assume both positions at the bank and holding company. Funk is also stepping down as a director of Parkway and Skyline.
Funk called the move “an excellent time to transition leadership of the bank to Blake.”
“With the recent merger with Great State Bank now complete and our combined operations off to a successful start, Blake and team are poised to capitalize on the foundational work that we have been doing these last several years,” he added in a prepared statement.
“We thank Allan for his years of leadership to Skyline National Bank and to Grayson National Bank before it,” said Thomas M. Jackson, chairman of the Parkway and Skyline board of directors.
A merger of Grayson National of Independence and Bank of Floyd in 2015 created Skyline National Bank. The Bank of Floyd, which began operations in 1951, was the county’s sole locally-owned bank and had seven offices in the county, Christiansburg, Radford, Roanoke County and Salem.
The new bank created an operation with 17 offices, deposits of more than $500 million and assets of $600 million.
The merger also came after a turbulent period where the Floyd bank fired its president and CEO and replaced several members of its Cardinal Bankshares holding company.
“Blake and Allen will continue to work together through the end of the year to ensure a smooth transition of leadership,” Jackson said.
Wythe County native Edwards, 53, graduated from Radford University and served in the Army. He is also president of the Blue Ridge Discovery Center and chairman of the board of Twin County Regional Hospital. He had served as chief financial officer of Grayson since 1999 before the merger in 2015.
“I am very excited for the opportunity to work with my colleagues to continue our important mission of offering an unmatched customer service and growing the reach of our bank,” Edwards said. “I am also very happy for Allan to have the opportunity to enjoy some well-deserved time with his family.”
With the latest addition of Great State Bank, Parkway now as 20 branches and three loan production offices.