Clifford Armstrong Cutchins, III
Eagle Scout: 1937
Distinguished Eagle Scout: 1987
From a teller position at a small family-run bank in Franklin, Clifford A. Cutchins, III rose to become chairman and chief executive officer of Sovran Bank, which was Virginia’s largest bank when he retired in 1989. Sovran later merged with other regional banks to become Bank of America.
Cutchins grew up in Franklin in Southampton County, Va. His grandfather ran a feed store in downtown Franklin, and his uncle, Cecil Vaughan, ran Vaughan & Co. Bank, which the family had established in 1886. Cutchins earned the Eagle Scout rank in 1937.
He served as a Captain in the U.S. Army during World War II in the Pacific Theater and returned to Franklin, Virginia. He received his Bachelor’s degree in 1947 from Virginia Polytechnic Institute and State University (Virginia Tech) and completed graduate work at the Stonier Graduate School of Banking at Rutgers University in 1952.
His association with the banking industry began after graduation in 1947, when he worked as a teller at Vaughan & Co. Bank. Over the next 13 years, he worked his way up the ranks, becoming the president in 1960. He negotiated a merger with two local banks to create Tidewater Bank and Trust Co., where he became President and Director in 1962. In 1963, Tidewater Bank and Trust merged with Virginia National Bank, and by 1969, he had risen to president. Mr. Cutchins formed Virginia National Bankshares, Inc. in July 1972, and was elected Chairman of the Board and Chief Executive Officer of the firm in 1980.
Over the years, Cutchins engineered several acquisitions and mergers, and in 1983, Virginia National merged with First & Merchants Corp. to form Sovran Financial Corporation. Mr. Cutchins was named the Chairman of the Board, Chief Executive Officer, and Director. He held this position until he retired in 1989 and was made an honorary director.
Mr. Cutchins was a Director with several organizations, as follows: Association of Bank Holding Companies, Mid-Atlantic Exchange, Inc., Shenandoah Life Insurance Company, Camp Foundation, Alliance Health System, Franklin Equipment Company, Greater Norfolk Corporation, Pulaski Furniture Corporation, and Future of Hampton Roads, Inc. In addition, he served as the president of the Virginia Tech Foundation. Inc.
He was a trustee of the Alliance Health System, the Virginia Council, and the Virginia Foundation for Independent Colleges. Also, he was a member of the Development Committee of Eastern Virginia Medical Foundation and the Governor’s Advisory Board on Revenue Estimates. Mr. Cutchins was a former director with the Atlantic States Bankcard Association, Medical Center Hospitals, the Hospital Data Center of Virginia, and Allied Bank International.
Cutchins was also involved in other services to the state and community. He was a member of the board of trustees of the Virginia Retirement System, a trustee of the Science Museum of Virginia, a director of the Business Consortium for Arts Support, a director of The Norfolk Forum, a director of the National Maritime Center Foundation, a trustee of the Nature Conservancy, and on the Virginia Business Higher Education Council.
Other affiliations include the Commonwealth Club of Richmond, Virginia, Cypress Cove Country Club, the Harbor Club, Norfolk Yacht and Country Club, Princess Anne Country Club, and the Town Point Club.
In 1994, Mr. Cutchins received the Distinguished Achievement Award from Virginia Polytechnic Institute and State University, and in 1995, he was awarded Virginia Tech’s William H. Ruffner Medal for outstanding service.
Cutchins was also a dairy farmer, operating on more than 600 acres in Franklin. He was one of the frontrunners in area dairy and hog farming, which netted him a posthumous induction into the Virginia Livestock Hall of Fame in 2011.
He died on December 27, 2002. He is survived by his wife of 55 years, Ann Woods Cutchins, three sons, two sisters, and eight grandchildren.