BERRYVILLE, Va., June 12, 2025 /PRNewswire/ -- Bank of Clarke and its holding company Eagle Financial Services, Inc. (EFSI) have announced that Cary C. Nelson of Winchester will become Chair of its Board of Directors. The statement comes upon the retirement of Thomas T. Gilpin, who served as Chair since 2007. Ms. Nelson, who sits on the Bank of Clarke Board, officially took over on May 20, 2025.
"Tom Gilpin graciously volunteered his time and expertise as a member of the Board of Directors for Bank of Clarke from 1986 to 2006 and as Chairman of the Board from 2007 to 2025, providing invaluable insight, perspective, and guidance to assist the Bank in fulfilling its mission," said Ms. Nelson. "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 is the President of Lenoir City Company, a real estate investment company in Winchester, Virginia, and President of Clarco Corporation, which operates as Northside Lanes, a bowling center in Winchester. He is also on the Board of Valley Health System. During his tenure, the Bank grew from $50M to $1.98B in assets, expanded from 2 to 14 branches and 2 loan production offices, added mobile banking to its suite of offerings, rebranded and changed its name from Bank of Clarke County to Bank of Clarke, and, in February of 2025, uplisted to Nasdaq.
"Two qualities really distinguish Bank of Clarke," said Mr. Gilpin. "The first is independence. We have prospered as an independent bank for 144 years, which gives us the freedom to define our own identity, mission, purpose, and soul." The second, he continued, is integrity. "The Bank has always kept its promises to our employees, customers, communities, and shareholders, which makes me very proud."
Ms. Nelson, who has served on the Board since 2018, is President of H. N. Funkhouser & Co. a family-owned petroleum products distributor founded in 1932 and based in the Northern Shenandoah Valley. A Certified Public Accountant, Ms. Nelson is a graduate of John Handley High School and holds a B.S. in accounting from the University of Richmond. She was a small business advisor in the U.S. Peace Corps, where she helped women start their own businesses to make goods for the local markets. Ms. Nelson is a member of First Presbyterian Church, member and past President of the Winchester Rotary Club, Board member of the Mount Hebron Cemetery, and immediate past Board Chair for the Top of Virginia Regional Chamber. She is Bank of Clarke's first female Chair.
"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," adds Brandon C. Lorey, Bank of Clarke's President & CEO. "We are excited to see what we can accomplish in our next phase."
About Bank of Clarke
Founded on April 1, 1881, Bank of Clarke now operates 14 full-service branches, two loan production offices, a wealth management office, and one drive-through-only facility. The main office is located at 2 East Main Street in Berryville, Virginia, with additional branches in Clarke County, Frederick County, Fauquier County, Loudoun County, Fairfax County, and the City of Winchester, VA, as well as a loan production office in Frederick, Maryland. Eagle Financial Services, Inc., the Bank's holding company, trades on Nasdaq under EFSI, as of February 2025.
Bank of Clarke's mission is to be a trusted partner in the communities it serves, providing financial solutions to help people achieve their financial goals at every life stage. The bank aims to build lifelong relationships with customers, employees, shareholders, and communities, maintaining its status as a high-performing, independent community bank that offers best-in-class technology, products, and services. For more information, visit www.bankofclarke.bank. Member FDIC.
SOURCE Bank of Clarke
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