- The Washington Times - Sunday, November 27, 2005

For Kate Carr, the new president of Cardinal Bank Washington, serving the community is as important as serving one’s employer — in fact, they can’t be separated. That’s why Mrs. Carr, a native Washingtonian, was one of four businesswomen recognized in September by the YMCA of Metropolitan Washington for giving back to the community.

“It’s a bit self-serving,” said Mrs. Carr, who works with several charity organizations, including So Others Might Eat, a local nonprofit she helps direct as a board member. “A healthy community makes it a healthy bank and vice versa.”

Headquartered in Tysons Corner with 21 banking offices in Northern Virginia, Cardinal plans to open its first office in the District at 1776 K St. NW by the end of the year. As president, Mrs. Carr said, she will oversee the bank’s expansion and develop its offerings to D.C.-area small businesses.

“The reason I’m going with Cardinal is that the decisions are local and I’m a part of the decision-making team,” said Mrs. Carr, who has more than 30 years of experience in commercial lending and private banking. “This is my city — I know the people and I know the businesses.”

Before joining Cardinal, Mrs. Carr was president and chief executive officer at the Abigail Adams National Bank and director of the Abigail Adams Bancorp from 1997 to 2005. During her tenure at Adams, the bank grew from less than $100 million in assets to $258 million. Before that, she was a vice president at NationsBank (now Bank of America).

“She’s a top-notch banker,” said Bernard Clineburg, chairman, president and chief executive officer of Cardinal Financial Corp. “She is perfectly suited in the small-business end, the commercial end and the professional end.”

Mrs. Carr praised the bank’s connections to the community: Through its annual charity golf and tennis tournament, Cardinal said in April 2004, it plans to raise $1 million over five years for the Inova Kellar Center, a Fairfax County nonprofit special-education, mental health and substance abuse treatment center.

Cardinal, which had $1.5 billion in assets as of Sept. 30 after going public this summer, has the resources necessary to support the local community financially as well, Mrs. Carr said.

“Almost over 75 percent of the deposits in this market are controlled by out-of-state banks, and I think the value of having a local, well-funded, well-capitalized bank is the response time that can be provided,” she said. “The important message is that business owners know that there is capital available, and that’s what is so critical.”

Mrs. Carr is on the board of directors of the Chevy Chase Land Co., Royco Inc., the Neighborhood Economic Development Corp. and the Washington Trustees for the Federal City Council. She also is a director of the Federal Reserve Bank in Richmond.

Mrs. Carr may have to make at least one change before she starts work: Her dog of three years is named Abigail Adams.

“I thought I certainly wouldn’t forget the dog’s name,” she said. “I think I’ll change her name to Cardinal.”

Mrs. Carr, 49, lives in the District with her husband, Keith. She has five children.

—Kara Rowland

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