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CHARLES TOWN, W.Va., Dec. 4, 2024 /PRNewswire/ -- (OTC: PTBS) – Potomac Bankshares, Inc. (the "Company"), the parent company of Bank of Charles Town (the "Bank"), also known as BCT-The Community's Bank, today announced the appointment of M. Shane Bell as Executive Vice President and Chief Financial Officer. Mr. Bell joins the Company following the recent retirement of Dean Cognetti, the former Executive Vice President and CFO. As a member of the executive team, Mr. Bell will oversee the financial activities of the Company and the Bank. His duties will include financial planning and accountability in support of the Company's strategic efforts, capital and enterprise risk management, and investor relations.
Mr. Bell brings more than 22 years of banking experience to BCT where he was responsible for implementation of new accounting standards, designed and implemented internal controls over financial reporting, managed interest rate and liquidity risk, developed financial plans to support expansion into new markets and acquisitions of businesses, all while maintaining compliance with rules and listing standards of publicly-traded companies. Prior to becoming a banker, Mr. Bell served as a Manager with Yount, Hyde & Barbour, PC, for eight years where he provided audit, tax, and consulting services to clients in the banking industry, while collaborating with his team to expand services into the West Virginia market.
"Throughout his career, Shane has established deep relationships with teammates, clients, and the community to deliver responsible financial oversight and guidance," stated Alice P. Frazier, President and CEO of BCT. "Shane is well positioned to build on Dean's legacy and lead us to further success in current and future markets as we develop the full breadth of BCT's capabilities, ultimately improving our clients' financial lives while strengthening BCT's bottom line."
In addition to holding a CPA license, Mr. Bell earned a B.S. in Accounting from Frostburg State University and completed coursework through the AICPA National Banking School at the University of Virginia and the Graduate School of Investments and Financial Management at the University of South Carolina. Mr. Bell previously served on the Virginia Bankers Association CFO Committee, where he planned educational programs for finance and accounting professionals.
Mr. Bell is the embodiment of a community banker. He currently serves on the Board of Directors and Finance Committee of Blue Ridge United, a non-profit organization that provides access to youth soccer to more than 1,800 athletes in the region. Previous community service includes serving as the Treasurer of the Board of Trustees of Braddock Street United Methodist Church, a board member and officer of non-profit organizations that support public school programs, and a volunteer coach and manager for youth athletic teams in his community.