Mike Larrowe named new President and CEO of Bank of Floyd

The new board of directors for Cardinal Bankshares — the holding company that owns Bank of Floyd — named Executive Vice President Michael Larrowe as the new President and Chief Executive Officer, replacing R. Leon Moore, who was ousted the day after shareholders ousted three incumbent members of the board and replaced them with local residents backed by North Carolina investor Douglas Schaller.

The action came too late to be included in my story in this week’s Floyd Press but we have posted the news on The Floyd Press web site.

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