Business news from the Fredericksburg region.
Getting to know: Billy Beale, CEO of Union First Market Bankshares Corp.
FULL NAME: George William Beale, CEO of Union First Market Bankshares Corp., one of the largest banks in the Fredericksburg area
AGE: 64 in December
FAMILY: Wife, Linda; son, Oliver, and daughter-in-law, Carly, along with grandchildren Mason and Griffin; and daughter, Rita, and son-in-law, Blake Williams.
Where you live: Bowling Green
Where you grew up and went to school: Grew up an Air Force brat, living in Texas, California, South Carolina, Virginia, Florida and Georgia.
Where you went to school: 13 different schools in kindergarten through 12th grade. Gradu ated from Mullins High School in Mullins, S.C. Bachelor of Science degree in business administration from The Citadel.
Why you decided to get into banking: I was seek ing an opportunity to both work with people and learn about a varied group of businesses.
Jobs you have held: I started in banking as a credit analyst, worked in professional/executive ac counts (today’s private banking); worked with smaller banks providing cash letter clearing services, data processing, and loan participations. Moved to smaller banks including opening a de novo charter and later running a problem bank.
Background at Union First Market: Joined Union in May 1989 as a vice president in operations. Was elected executive vice president in November 1990 and president and CEO in April 1991.
Your thoughts on how the economy is looking in the Fredericksburg area: The economy in the Fredericksburg region is dependent upon U.S. government and Department of Defense spending. The area began to see a good recovery until the se quester, and now the government shutdown took some wind out of our sails. The Fredericksburg area will continue to do well because of its location, low tax rates and workforce.
What you like to do when not at work? Exercising, reading, cooking and visiting Virginia wineries.