Meet Chad Harcum - Director, Corporate Banking, Central Virginia

Q: What exactly is corporate banking?

A: In corporate banking we work with owners of privately owned companies on all aspects of their business – from loans, cash management, growth and strategy, to other needs like insurance and investments. I spend a lot of time with my members strategizing for future acquisitions, a sale, or whatever their goals may be. 

Q: How does corporate banking help our members?

A: Outside of supplying what people expect of a bank, I focus on helping my members develop strategies to help them grow safely in their industry. I do this through a comprehensive review of their business history and thinking about the future potential in their specific industry and their business and personal goals.

Q: What differentiates TowneBank from other banks?

A: We cut through the red tape and are empowered to do the right thing for our members. That is not the case at all financial institutions.

Q: If someone were debating between banking at TowneBank and another bank, why should they choose TowneBank?

A: Because we make decisions locally, actions that might take several layers of approval at a larger bank are able to get done quickly at TowneBank. That responsiveness makes a big difference, especially for our members running their own business.

Q: Describe a time when you helped a member out of a difficult situation or helped to solve a problem for them.

A: One of my members works in a highly regulated industry, meaning a change in regulations can change their business with little to no warning. This resulted in a cash flow issue. TowneBank showed patience and helped during a financially difficult time. Because of our response, the member moved all their remaining business to TowneBank.  

Q: What is your favorite thing about what you do?

A: It is very rewarding to help members build their business and see them achieve financial success and security. Often, our journey together results in lifelong friendships.

Q: What are three traits that define TowneBank? 

A: Culture of caring. Community focus. Using your best judgement to do what is right.

Q: Name something you’ve learned from one of your members. 

A: Through example, my members have shown how to endure during challenging times.

Q: Where do you see changes coming in corporate banking in the next 2-3 years? 

A: I think technology with crypto currency (specifically blockchain and distributed ledger) are going to present significant changes for the banking industry. We may not see these changes for five or more years, but I think they will be hugely impactful on banking.