TowneBank (TOWN) has hired a former SunTrust Banks (STI) executive to help the Suffolk, Va., company expand its mortgage operations.
TowneBank hired J.G. Carter as president of unit TowneBank Mortgage, the $4.3 billion-asset company said late Wednesday. Carter succeeds Jacqueline Amato, who was named the unit's chairman and chief executive.
The mortgage unit was created in 2000 and has expanded from the coast to cities such as Richmond and Roanoke in Virginia and Raleigh, N.C. It originates more than $1 billion in loans annually. The company said in the release that Carter, who had been an executive vice president of correspondent lending at SunTrust Mortgage, will work with Amato to expand the unit's reach "throughout the eastern seaboard."
"As we evaluated the rapid growth and expansion of our mortgage operation, we recognized the need for additional leadership to ensure our continued commitment to quality," G. Robert Aston Jr., TowneBank's chairman and chief executive, said in a press release.
