Regulators Approve Beisel as CEO and President of Commonwealth Bankshares, Inc.

After receiving formal approval from federal and state banking regulators, the Boards of Directors of Commonwealth Bankshares, Inc. CWBS and Bank of the Commonwealth appointed longtime Virginia banker Chris E. Beisel as the Chief Executive Officer, President and Director of Commonwealth and the Bank. Beisel, who joined the company last year as Chief Credit Officer, has been serving as interim President since the December 3, 2010 announcement of the retirement of former CEO and President, Edward J. Woodard, Jr.