TowneBank’s board of directors elected Brad Schwartz as president and chief operating officer. Schwartz will succeed J. Morgan Davis, who will continue to serve as CEO of the company.

“Brad joined our Towne family in 2016 with the merger of Towne and Monarch Bank, where he served as chief executive officer. Since that time, he has played a significant role in the enhancement of our operational capabilities as well as his contribution to the more than doubling of our company’s assets and earnings since 2016,” G. Robert Aston Jr., executive chairman of the board of directors of TowneBank, said.

Schwartz is a past member of the board of directors of the Federal Reserve Bank of Richmond and the board of visitors of Longwood University and is a current member of the board of directors of the Virginia Bankers Association.