Citizens Bank of West Virginia has announced that Thomas K. Derbyshire has been named president and CEO effective Aug. 1. He will succeed current president William T. Johnson Jr., who is retiring after 48 years of service to the organization.
"Tom has been an officer of Citizens Bank for 19 years with executive responsibilities," Johnson said. "I am confident he will be successful in leading the bank in a very positive manner."
A native of Bristol, Pennsylvania, Derbyshire attended Delhaas High School and Michigan Tech University. He graduated magna cum laude from Rider College in Lawrenceville, New Jersey, with a Bachelor of Science in commerce, majoring in accounting. He later continued his education at West Virginia University, graduating summa cum laude with a Master of Science in agricultural economics. Having been licensed as a CPA in 1982, he is a member of the West Virginia Society of CPAs and the American Institute of CPAs. He is a graduate of the West Virginia School of Banking, the AICPA Banking School and the Graduate School of Banking at the University of Wisconsin.
After beginning his professional career as an auditor in Philadelphia and completing his master's studies at WVU, Derbyshire accepted a position as controller with Lowndes Bank in Clarksburg in 1985 to begin his banking career. He also served as controller at United Bank in Parkersburg where his primary responsibility was centered in SEC reporting before joining Citizens Bank in 1992. At Citizens, he progressed to the position of chief financial officer and accepted his current role as executive vice president in 2005. He also serves as vice president and treasurer of Citizens Financial Corp., the bank's holding company. In addition to his duties as the bank's president and CEO, he will also serve on its board of directors.
"Tom's broad banking experience, leadership and financial skills will serve Citizens well as we make this transition," said Max Armentrout, chairman of Citizens Financial Corp. "He has an extensive background in commercial banking and we're very fortunate to have such a seasoned professional take the reins and lead our organization to future success."
Derbyshire is a member of the Rotary Club of Elkins and a former board member of the Elkins YMCA and Youth Health Services. He attends Saint Brendan Catholic Church where he has twice served on the Finance Council and is a member of the Knights of Columbus. He is the son of Thomas and Madeline Derbyshire of Beverly and resides in Elkins with his wife, Sue.
"It is a privilege to be a part of the Citizens organization and a high honor to have been chosen to serve as president," Derbyshire said. "I am very appreciative of the board's decision to give me this opportunity. I look forward to leading a talented team of employees who are dedicated to delivering exceptional service and making lasting contributions to our customers and communities. Together we will continue to build upon the gold standard legacies and traditions Citizens Bank has built over the past 87 years."
Citizens Bank of West Virginia, with headquarters in Elkins, offers full service banking, trust and investment services.The bank has $237 million in consolidated assets and operates four banking offices and nine ATM facilities in Randolph, Tucker and Pocahontas counties.