John W. Failes

Vice Chairman of the Board of TowneBank; Chairman of the Board of Towne Insurance Agency, Inc.; Certified Public Accountant; Partner (Retired) of the accounting firm of Cherry, Bekaert & Holland, LLP, Virginia Beach, Virginia from September 2000 to December 2001; Chief Executive Officer (Retired) of the accounting firm of Failes & Associates, P. C., Virginia Beach, Virginia from October 1983 to August 2000.