SUFFOLK, Va. - TowneBank (NASDAQ:TOWN), a Virginia-based financial services provider, announced today the appointment of Dr. Sachin Shetty, an accomplished cybersecurity and network expert, to its Board of Directors. Dr. Shetty brings to the board extensive experience in secure and intelligent systems, particularly in the context of critical infrastructure resilience.
Dr. Shetty is currently the Executive Director of the Center for Secure and Intelligent Critical Systems and a Professor in the Electrical and Computer Engineering Department at Old Dominion University. His academic work, which includes over 300 published research articles, centers around the integration of computer networking, network security, and machine learning to enhance critical infrastructure security.
With a Ph.D. in Modeling and Simulation from Old Dominion University, a Master of Science in Computer Science from the University of Toledo, and a Bachelor's degree in Computer Engineering from Mumbai University, Dr. Shetty's educational background complements his professional achievements. He resides in Chesapeake, Virginia, with his family.
William I. "Billy" Foster III, president and CEO of TowneBank, expressed the company's honor in welcoming Dr. Shetty to the board. Foster highlighted Dr. Shetty's cybersecurity and data privacy expertise as critical to TowneBank's risk management and modeling strategies, underscoring the value he is expected to bring to the governance and oversight of the bank and its associated companies.
Founded in 1999, TowneBank has grown to operate 50 banking offices with a focus on building relationships and community involvement. The bank offers a range of financial services, including business and personal banking solutions, through its various affiliated companies, such as Towne Wealth Management, Towne Insurance Agency, and TowneBank Mortgage, among others. As of December 31, 2023, TowneBank reported total assets of $16.84 billion.
The announcement comes as TowneBank celebrates its 25th anniversary, marking a milestone in its commitment to serving local communities and promoting social, cultural, and economic growth. Dr. Shetty's appointment is part of the bank's continued strategy to incorporate experienced local bankers and experts to provide a higher level of service and attention to its clients.
This appointment is based on a press release statement issued by TowneBank.
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