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NewDominion Bank in Charlotte, N.C., has promised to decide on applications for certain commercial loans within three days, or pay $3,000 toward closing, in hopes of speeding its own recovery.
September 16 -
NewDominion is the rare community bank that invests in its own apps for small business clients. Behind that effort stands Chris Block, one of BTN's Mobile Banker of the Year honorees.
June 3 -
Arrangement will allow the Charlotte, N.C. bank to help business customers improve accounts receivables processes.
September 27
NewDominion Bank in Charlotte, N.C., has opened a mortgage division as part of its comeback effort.
The division will complement existing construction-to-permanent loan products and offer borrowers additional financing options such as conventional, jumbo, Federal Housing Administration and Department of Veterans Affairs mortgages, the company said in a news release.
Scott Jenkins, the managing partner of Bridgewater Capital, has been hired to oversee NewDominion's mortgage business.
"We are off to a fast-paced start with our current team," Jenkins said in the release. "Our main goal over the next 12 months is to expand our sales force and operational staff."
Just four years ago, NewDominion was struggling. The Federal Deposit Insurance Corp. hit it with a consent order in October 2010 that mandated new management along with several other requirements. The bank hired
NewDominion has worked to
NewDominion had $278 million in assets at March 31. It has two branches in North Carolina.
