#United States #Berryville #Bank of Clarke #Cary Nelson #Tom Gilpin

Cary Nelson Takes Charge at Bank of Clarke

In a significant shift at the Bank of Clarke, Cary C. Nelson has been appointed as Chair of its Board of Directors, succeeding Thomas T. Gilpin, who has retired after a long and impactful tenure. The announcement of this change was made by the Bank and its holding company, Eagle Financial Services, Inc. (EFSI), marking an important milestone for both the organization and its community.

A Steady Transition

Cary Nelson, who hails from Winchester, officially assumed the role on May 20, 2025, after Gilpin's notable term that lasted from 2007 to 2025. Gilpin's contribution to the Bank spans nearly four decades, having been part of the Board of Directors since 1986. Under his leadership, the Bank experienced remarkable growth. It expanded its assets from $50 million to almost $2 billion, increased its branches from two to fourteen, and even ventured into mobile banking and rebranding, significantly enhancing the bank's market presence.

Reflecting on Gilpin's tenure, Nelson stated, "Tom Gilpin graciously volunteered his time and expertise... providing invaluable insight, perspective, and guidance to assist the Bank in fulfilling its mission. Tom will be greatly missed and will always be part of the Bank of Clarke family. We thank him for his long and distinguished service.”

Mr. Gilpin, who is also the President of Lenoir City Company and Clarco Corporation, expressed pride in the bank's independence and integrity. He emphasized, "The Bank has always kept its promises to our employees, customers, communities, and shareholders, which makes me very proud."

New Leadership - New Path

Cary Nelson is well-equipped to lead the Bank into its next chapter. She has been aBoard member since 2018 and serves as the President of a family-owned petroleum distributor that has been in operation since 1932. An accomplished Certified Public Accountant, Nelson has a strong educational background with a B.S. in accounting from the University of Richmond. Her international exposure as a U.S. Peace Corps advisor, where she supported women in starting businesses, adds depth to her leadership profile.

In addition to her professional qualifications, Nelson is actively involved in her community as a member of the First Presbyterian Church and the Winchester Rotary Club, where she previously served as President.

Brandon C. Lorey, President and CEO of Bank of Clarke, remarked on the significance of this transition: “Tom's broad knowledge gave the Bank leadership and consensus-building through critical discussions around its challenges and strategy. With her experience as an accountant and an executive of a successful corporation, Cary adds financial expertise and strategic thinking.”

Together, he believes they are poised for what he calls an exciting next phase at the Bank of Clarke.

About Bank of Clarke

Founded on April 1, 1881, Bank of Clarke has established itself as a major financial institution, currently operating fourteen full-service branches and two loan production offices, along with a wealth management office in Berryville, Virginia. The bank's mission is to serve its communities by offering financial solutions tailored to support individuals in achieving their financial goals at every stage of life. In February 2025, the Bank achieved a significant milestone by uplisting to Nasdaq under the ticker symbol EFSI.

Bank of Clarke is committed to building lasting relationships with its customers and maintaining its reputation as a high-performing, independent community bank, delivering best-in-class products, services, and technology. For more insights, visit Bank of Clarke.

Conclusion

This leadership transition marks not just a change at the top but also signifies the bank's commitment to innovation and continuity in serving the community. Cary Nelson's appointment as Chair of the Board opens up new avenues for growth and excellence, continuing the legacy of dedication established by Tom Gilpin.