NewDominion Bank of Charlotte, N.C., has hired a banking veteran to lead the company out of its consent order.

John Hipp, most recently an executive at Ameris Bank, replaced Bradley Thompson as chief executive, The Charlotte Observer reported Wednesday. The change in senior management follows NewDominion's agreement to a consent order with its regulators.

Hipp earned a reputation as a turnaround specialist in the 1990s as the CEO of two South Carolina banks. Thompson helped in the 2005 launch of the $575.5 million-asset NewDominion, which began with the largest capital base of any North Carolina-chartered bank at that time.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.