Organizers planning de novo bank in North Carolina
Another group is looking to form a bank in North Carolina.
The effort behind Triad Business Bank involves several former bankers at NewBridge Bancorp. The Greensboro, N.C., company was sold in April 2016 to Yadkin Financial, which was later sold to F.N.B. Corp. in Pittsburgh.
Ramsay Hamadi, NewBridge’s former chief financial officer, would be the bank’s CEO. He recently served as chief strategic officer at Bay Banks of Virginia in Richmond.
Hamadi said the bank would focus on commercial loans to small and midsize borrowers, typically with average annual revenue of $20 million or less. Organizers are looking to raise $65 million in initial capital with hopes of opening late this year.
While the bank's initial office would be in Greensboro, Hamadi said the plan is to eventually have locations in neighboring Winston-Salem and High Point.
"There is a self-evident need and a gap in the market" given the recent sales of many community banks in North Carolina, Hamadi said. "Larger banks are going to focus on larger customers."
Robin Hager, who was NewBridge's chief administrative officer, is set to become president and chief operating officer. Wes Budd, NewBridge’s chief credit officer, would have the same role at the de novo.
Jeff Montgomery is expected to serve as chief banking officer. Montgomery, who previously served as a regional manager of commercial banking at F.N.B., is the son of retired BNC Bancorp CEO Swope Montgomery.
A number of other groups are planning banks in North Carolina.
American Bank & Trust in Monroe received approval from the Federal Deposit Insurance Corp. in February. Community Bank of the Carolinas in Winston-Salem was approved in December.
The FDIC also approved an application for Spirit Community Bank in Statesville, but organizers gave up plans to open after struggling to raise enough capital.
Another group scrapped plans to form a bank, opting instead to recapitalize Sound Bank in a transaction that was completed this month.