William H. Hayter, the chairman of the Wellspring Foundation board of directors, has spent his career in the banking industry. He served as president and CEO of First Bank & Trust Company and First Bancorp, Inc. for 40 years, and currently serves as board chairman of the bank and its holding company. During his tenure as president and CEO, the bank’s assets grew from $1 million to $1.9 billion and 31 offices.
Following his 1976 graduation from Virginia Tech, Hayter began his banking career as a senior credit analyst for the Farm Credit system. He was instrumental in the organization of First Russell County Bank, which was later renamed First Bank & Trust Company. For some time, he was the youngest banking CEO in the state of Virginia.
Throughout his career, Hayter has served with various business organizations. These include the Virginia Agribusiness Council and the Virginia Bankers Association, having served previous terms as chairman at both organizations. He has also served with several industrial development organizations, including the Virginia Economic Development Partnership board of directors.
In addition to banking, Hayter has been active in the agriculture industry, and maintains a commercial cow-calf and stocker operation on his farm in Southwest Virginia. He resides with his family in Abingdon.