STOCK TITAN

G. Lyn Hayth, III to Retire as CEO of Bank of Botetourt; Michelle Austin Named Successor

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags

Bank of Botetourt (OTCPK:BORT) announces CEO G. Lyn Hayth, III will retire on June 30, 2025, after nearly 40 years of service. Michelle R. Austin, current President and COO, will succeed as CEO effective July 1, 2025. Hayth will remain Vice-Chair and transition to Chief Strategic Officer part-time.

Under Hayth's leadership since 2010, the bank's total assets grew from $310 million to $864 million. His tenure saw expansion into new markets, establishment of Virginia Mountain Mortgage and Botetourt Wealth Management divisions, and successful navigation through the Great Recession and COVID-19 pandemic. The bank's PPP program helped retain over 4,000 jobs, and in 2024, Forbes recognized it as Virginia's #1 Best-In-State Bank.

Austin, who joined as an intern in 1991, brings extensive experience including 18 years as CFO and leadership roles in various departments. She holds an MBA and has served as President and COO since 2023.

La Banca di Botetourt (OTCPK:BORT) annuncia che il CEO G. Lyn Hayth, III si ritirerà il 30 giugno 2025, dopo quasi 40 anni di servizio. Michelle R. Austin, attuale Presidente e COO, succederà come CEO a partire dal 1 luglio 2025. Hayth rimarrà Vice-Presidente e passerà a ricoprire il ruolo di Chief Strategic Officer part-time.

Sotto la guida di Hayth dal 2010, gli attivi totali della banca sono cresciuti da 310 milioni a 864 milioni di dollari. Il suo mandato ha visto un'espansione in nuovi mercati, la creazione delle divisioni Virginia Mountain Mortgage e Botetourt Wealth Management, e una navigazione di successo attraverso la Grande Recessione e la pandemia di COVID-19. Il programma PPP della banca ha contribuito a mantenere oltre 4.000 posti di lavoro, e nel 2024, Forbes l'ha riconosciuta come la #1 Banca Migliore dello Stato della Virginia.

Austin, che è entrata come stagista nel 1991, porta con sé una vasta esperienza, inclusi 18 anni come CFO e ruoli di leadership in vari dipartimenti. Ha conseguito un MBA ed è stata Presidente e COO dal 2023.

El Banco de Botetourt (OTCPK:BORT) anuncia que el CEO G. Lyn Hayth, III se retirará el 30 de junio de 2025, después de casi 40 años de servicio. Michelle R. Austin, actual Presidenta y COO, asumirá como CEO a partir del 1 de julio de 2025. Hayth permanecerá como Vicepresidente y pasará a ser Director Estratégico a tiempo parcial.

Bajo el liderazgo de Hayth desde 2010, los activos totales del banco crecieron de 310 millones a 864 millones de dólares. Su mandato vio la expansión a nuevos mercados, el establecimiento de las divisiones Virginia Mountain Mortgage y Botetourt Wealth Management, y la exitosa navegación a través de la Gran Recesión y la pandemia de COVID-19. El programa PPP del banco ayudó a retener más de 4,000 empleos, y en 2024, Forbes lo reconoció como el #1 Banco Mejor del Estado de Virginia.

Austin, quien se unió como pasante en 1991, aporta una amplia experiencia, incluidos 18 años como CFO y roles de liderazgo en varios departamentos. Tiene un MBA y ha sido Presidenta y COO desde 2023.

보테카우트 은행 (OTCPK:BORT)는 CEO G. Lyn Hayth, III가 2025년 6월 30일에 은퇴할 것이라고 발표했습니다. 그는 거의 40년간의 서비스 후에 은퇴합니다. 현재 사장 겸 COO인 미셸 R. 오스틴이 2025년 7월 1일부터 CEO로 취임합니다. 헤이스는 부회장직을 유지하며 파트타임으로 최고 전략 책임자로 전환할 것입니다.

헤이스의 리더십 아래 2010년 이후 은행의 총 자산은 3억 1천만 달러에서 8억 6천 4백만 달러로 증가했습니다. 그의 임기 동안 새로운 시장으로의 확장, 버지니아 마운틴 모기지 및 보테카우트 자산 관리 부서의 설립, 그리고 대침체와 COVID-19 팬데믹을 성공적으로 극복했습니다. 은행의 PPP 프로그램은 4,000개 이상의 일자리를 유지하는 데 도움을 주었고, 2024년에는 포브스가 이를 버지니아 주 최고의 은행으로 인정했습니다.

1991년에 인턴으로 입사한 오스틴은 CFO로서 18년의 경험과 여러 부서에서의 리더십 역할을 가지고 있습니다. 그녀는 MBA를 보유하고 있으며 2023년부터 사장 겸 COO로 재직하고 있습니다.

La Banque de Botetourt (OTCPK:BORT) annonce que le PDG G. Lyn Hayth, III prendra sa retraite le 30 juin 2025, après près de 40 ans de service. Michelle R. Austin, actuelle Présidente et COO, lui succédera en tant que PDG à compter du 1er juillet 2025. Hayth restera Vice-Président et passera au poste de Directeur Stratégique à temps partiel.

Sous la direction de Hayth depuis 2010, les actifs totaux de la banque sont passés de 310 millions à 864 millions de dollars. Son mandat a vu une expansion vers de nouveaux marchés, la création des divisions Virginia Mountain Mortgage et Botetourt Wealth Management, ainsi qu'une navigation réussie à travers la Grande Récession et la pandémie de COVID-19. Le programme PPP de la banque a aidé à conserver plus de 4 000 emplois, et en 2024, Forbes l'a reconnu comme la #1 Meilleure Banque de l'État de Virginie.

Austin, qui a rejoint en tant que stagiaire en 1991, apporte une vaste expérience, y compris 18 ans en tant que CFO et des rôles de leadership dans divers départements. Elle détient un MBA et a été Présidente et COO depuis 2023.

Die Bank von Botetourt (OTCPK:BORT) gibt bekannt, dass CEO G. Lyn Hayth, III am 30. Juni 2025 nach fast 40 Jahren im Dienst in den Ruhestand gehen wird. Michelle R. Austin, derzeitige Präsidentin und COO, wird ab dem 1. Juli 2025 als CEO nachfolgen. Hayth wird als Vizepräsident bleiben und part-time in die Rolle des Chief Strategic Officer wechseln.

Unter der Leitung von Hayth seit 2010 wuchsen die Gesamtkundenvermögen der Bank von 310 Millionen auf 864 Millionen Dollar. Während seiner Amtszeit erlebte die Bank eine Expansion in neue Märkte, die Gründung der Abteilungen Virginia Mountain Mortgage und Botetourt Wealth Management sowie eine erfolgreiche Bewältigung der Großen Rezession und der COVID-19-Pandemie. Das PPP-Programm der Bank half, über 4.000 Arbeitsplätze zu erhalten, und 2024 wurde sie von Forbes als die #1 Beste Bank des Bundesstaates Virginia ausgezeichnet.

Austin, die 1991 als Praktikantin eintrat, bringt umfassende Erfahrung mit, darunter 18 Jahre als CFO und Führungspositionen in verschiedenen Abteilungen. Sie hat einen MBA und ist seit 2023 Präsidentin und COO.

Positive
  • Assets grew significantly from $310M to $864M under Hayth's leadership
  • Forbes recognition as Virginia's #1 Best-In-State Bank in 2024
  • Successful expansion into new markets and establishment of mortgage and wealth management divisions
  • Strong succession planning with experienced internal candidate
Negative
  • None.

BUCHANAN, Va., April 2, 2025 /PRNewswire/ -- Bank of Botetourt (OTCPK:BORT and BORTP) announces that G. Lyn Hayth, III will retire as Chief Executive Officer on June 30, 2025, after dedicating nearly four decades to the Bank. Hayth will remain Vice-Chair of the Board of Directors and transition into a part-time role as Chief Strategic Officer, where he will focus on strategic initiatives and leadership transition. The Board of Directors has appointed Michelle R. Austin, current President and Chief Operating Officer, as President and Chief Executive Officer, effective July 1,2025.

Since joining the Bank in 1986, Hayth has played a pivotal role in its evolution. Serving as President from 2002 to 2023, and CEO since 2010, he has overseen significant growth, with total assets expanding from $310 million to $864 million. Under his leadership, the Bank has strategically expanded its footprint, establishing new offices in Salem, Cave Spring, Vinton, and Rocky Mount, and relocating the Daleville Office to the Daleville Town Center. He spearheaded the establishment of the Bank's mortgage and wealth management divisions, Virginia Mountain Mortgage and Botetourt Wealth Management respectively. His steady leadership guided Bank of Botetourt through the Great Recession, the COVID-19 pandemic, including the administration of the Paycheck Protection Program (PPP). Through the PPP, the Bank helped small businesses retain more than 4,000 jobs throughout the Bank's footprint. In 2024, the Bank was recognized by Forbes as Virginia's #1 Best-In-State Bank, a direct result of Hayth's leadership and strategic direction.

Beyond his contributions to the Bank, Hayth has been deeply engaged in the community and the banking industry. He has served as a member of the Board of Directors for the Virginia Bankers Association since 2021, and Bearing Insurance, LLC since 2011. His commitment to economic and educational advancement includes roles on the Virginia Innovation Accelerator Board and as Chairman of the Roanoke Higher Education Authority Board of Trustees. He also serves on the Botetourt County Economic Development Authority Board and is an active member of the Kiwanis Club of Botetourt County. Previously, he served on the Community Bankers Bank Board of Directors and Chaired the Virginia Association of Community Banks Board in 2018.

"As I reflect on my time at Bank of Botetourt, I am proud of all we have accomplished together," said Hayth. "The Bank's strength lies in its people—our dedicated employees, senior management, and Board of Directors—who have upheld our values and commitment to our customers and communities. I have full confidence in Michelle's ability to lead the Bank into its next chapter. Her strategic vision, deep expertise, and commitment to excellence make her the ideal choice to continue our legacy."

Austin, who has served as President since 2023, expressed her appreciation, saying, "It has been an honor to work alongside Lyn and learn from his leadership. His energy is unmatched, and his strategic foresight has strengthened the Bank for the future."

Austin's career with Bank of Botetourt began as a college intern in 1991, leading to a full-time role in 1993. She holds a Bachelor of Business Administration from Roanoke College and an MBA from Troy University. A graduate of the Virginia Bankers Association School of Bank Management at the University of Virginia, where she now serves on the faculty, Austin also completed the Graduate School of Banking at Louisiana State University. She spent eleven years as an adjunct professor at Roanoke College's Department of Business Administration and Economics.

As President and COO since 2023, Austin has overseen key operational functions, having previously served as Chief Financial Officer for 18 years, including a decade as an SEC registrant on behalf of the Bank. Earlier in her career, she worked in the Bank's areas of Marketing, the Community Reinvestment Act, and Branch Management.

Board Chair Joyce Kessinger recognized Hayth's lasting impact and Austin's strengths, stating, "Lyn's leadership has positioned Bank of Botetourt as a trusted financial institution that continues to thrive. His vision and dedication have shaped the Bank's growth and success, and we are grateful for his continued guidance. The Board has been intentional in its succession planning, and Michelle Austin's depth of experience and keen understanding of the Bank's operations will ensure its ongoing strength for years to come."

Like Hayth, Austin is actively engaged in the industry and community. She has served on the Virginia Bankers Association Benefits Board since 2019 and represents Virginia on the American Bankers Association's Community Bankers Council. Additionally, she is a member of Roanoke College's President's Advisory Board, the Roanoke Regional Partnership Board of Directors, and the Mountain Gateway Community College Real Estate Foundation.

With more than three decades devoted to Bank of Botetourt, Austin stated, "As I step into the role of CEO, I am committed to building upon the strong foundation that has been established over the past 125 years. My focus will remain on fostering growth, innovation, and maintaining the Bank's unwavering dedication to its customers, employees, and community. Together, we will continue to uphold the values that have made Bank of Botetourt a trusted institution and ensure its success for generations to come."

About Bank of Botetourt

Bank of Botetourt was chartered in 1899 and operates fourteen retail offices in Botetourt, Rockbridge, Roanoke, and Franklin counties, the City of Salem, and the Towns of Vinton and Rocky Mount, all in Virginia.  Bank of Botetourt also operates a mortgage division,

Virginia Mountain Mortgage and a financial services division, Botetourt Wealth Management. In 2024, the Bank was recognized by Forbes as Virginia's #1 Best-In-State Bank.

Cision View original content:https://www.prnewswire.com/news-releases/g-lyn-hayth-iii-to-retire-as-ceo-of-bank-of-botetourt-michelle-austin-named-successor-302415935.html

SOURCE Bank of Botetourt

FAQ

When will G. Lyn Hayth III retire as CEO of Bank of Botetourt (BORT)?

G. Lyn Hayth III will retire as CEO on June 30, 2025, transitioning to a part-time role as Chief Strategic Officer while maintaining his position as Vice-Chair.

Who is the new CEO of Bank of Botetourt (BORT) and when does she start?

Michelle R. Austin, current President and COO, will become CEO effective July 1, 2025.

How much did Bank of Botetourt (BORT) assets grow under Hayth's leadership?

Under Hayth's leadership, the bank's total assets grew from $310 million to $864 million.

What major achievements did Bank of Botetourt (BORT) accomplish under Hayth's tenure?

Key achievements include expansion into new markets, establishing mortgage and wealth management divisions, navigating through the Great Recession and COVID-19 pandemic, and being named Virginia's #1 Best-In-State Bank by Forbes in 2024.

How many jobs did Bank of Botetourt (BORT) help retain through its PPP program?

The bank's Paycheck Protection Program (PPP) helped retain more than 4,000 jobs throughout its footprint.
Bank Of Botetour

OTC:BORT

BORT Rankings

BORT Latest News

BORT Stock Data

65.95M
1.95M
7.23%
Banks - Regional
Financial Services
Link
United States
Buchanan