NewBridge Promotes Two, Including an Ex-Mayor of Wilmington, N.C.

NewBridge Bank (NBBC) in Greensboro, N.C., has created two executive positions.

David Barksdale will be chief strategy officer, the $1.7 billion-asset company said Thursday. Barksdale has been NewBridge's chief banking officer since 2008, before which he was a regional president. Earlier, he was chief credit officer for Lexington State Bank, NewBridge's predecessor.

Spence Broadhurst will be chief sales officer, the release said. Broadhurst joined the company in 2011 as senior vice president and special projects manager. Previously he spent 30 years with SunTrust Banks (STI) in various executive roles. He was the mayor of Wilmington, N.C., from 2003 through 2006.

Both Barksdale and Broadhurst will report to President and Chief Executive Pressley Ridgill.

Last month, NewBridge raised $56 million and made changes to its stock structure to enable it to redeem the $52 million worth of preferred stock issued to the Treasury Department through the Troubled Asset Relief Program.