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William T. McLaughlin

2011 Inductee

Because of Mr. William T. McLaughlin II, banking in West Virginia has significantly changed.

With a BS degree in business administration from WVU, McLaughlin began as an examiner for the FDIC in 1960. In 1967 he moved to auditor for the Community Bank & Trust CB&T), where he became president, chairman, and CEO. From this position he began a campaign to change state banking laws to allow branch banking and bank holding companies. In the early 1970s, he and fellow CB&T directors built a base of affiliate banks that became the foundation for one of the state's first bank holding companies. McLaughlin also became the first president of the Progressive Bankers Association for banks willing to work for modernizing banking laws. Finally in 1983, bank holding companies became legal and CB&T was re-organized into a holding company named CB&T Financial Corp. When McLaughlin became CEO of CB&T, the bank had assets of $7 million and capital near $600,000. Between 1984 and 1992, CB&T Financial Corp. had 17 acquisitions, $775 million in assets, and $75 million in capital. In 1992, McLaughlin negotiated the sale of CB&T to Huntington Bancshares Incorporated for the highest price (on a premium per share basis) ever paid for a major West Virginia bank. He continued to serve the acquiring bank as chairman and CEO of Huntington Banks West Virginia, which he grew to become the state's third largest bank. The respect his industry peers feel for his leadership is reflected in his being elected chairman of the West Virginia Bankers Association. He also served as a member of the American Bankers Association Government Relations Council. McLaughlin retired from banking in 1997.

McLaughlin's leadership and vision have benefited more than the banking industry. Some of the many state civic organizations that have enjoyed his valuable help included the Fairmont Industrial Credit Corp., the Marion County Chamber of Commerce, Fairmont State University Board of Advisors, the West Virginia Board of Regents, WVU College of Business and Economics Advisory Board, the Finance Committee for Ruby Memorial Hospital, the Clay Center of the Arts and Sciences, and the Davis & Elkins College Board of Trustees.

McLaughlin is married to the former Ruth Ann Walker. They were married while students at West Virginia University and have been married for 44 years. They have five adult children and three grandchildren.