Print
Banking & Finance

McCombie, Other Former NewBridge Execs Enter Market With Southern Bank

By Jenny Callison, posted Apr 6, 2016
Three former NewBridge Bank executives are opening the Wilmington market’s first Southern Bank location.

Paul McCombie, Leon Pruzan and Lenny Smith have leased space in the Landfall Executive Center for a Southern Bank loan production office, a new market entry for the bank, McCombie said Wednesday.

From that location, the three will serve Wilmington and the Cape Fear region of southeastern North Carolina. The new office is “part of a long-term strategic plan for growth in several emerging markets, including the Wilmington area,” Southern Bank president Drew Covert said in a news release.

Southern Bank, based in Mount Olive, “is only an hour up the road, and though it has more than 60 locations in North Carolina and Virginia, it has never opened an office in Wilmington,” McCombie said.

McCombie, who will be senior vice president and Cape Fear market executive, was formerly the executive vice president with NewBridge Bank in the Wilmington market and served that institution as market president and sales integration director. He is a longtime resident of Wilmington and a graduate of University of North Carolina Wilmington. He is a graduate also of the UNC-Chapel Hill Young Executives Institute and the Stonier Graduate School of Banking at the University of Pennsylvania.

Pruzan was previously NewBridge’s senior vice president in commercial lending and private banking services in the local market. A native of Raleigh, Pruzan also earned an undergraduate degree from UNCW.

Smith was a vice president, commercial relationship manager for NewBridge in the Wilmington market. He is a native of Rocky Mount and earned a bachelor's degree from Elon University and an MBA from East Carolina University.

“We are very excited to have Paul and his team serving the Cape Fear Market Area and managing the new loan production office in the Wilmington area for Southern Bank,” Covert said in the release. “We look forward to establishing and growing a strong base of business in the Cape Fear Region through his leadership, and are very optimistic about the long term prospects and opportunities this will afford our company for many years to come.”

McCombie said he sees the new affiliation as a great opportunity for the three experienced bankers.

“It really is a well-established community bank, well-capitalized and very sound,” McCombie said of Southern Bank, which has total assets of about $2.5 billion. “Their community bank model is a great fit for us and gave [the three of us] the opportunity to work as a team. We really enjoy working together and have synergy as a team.”

McCombie added that he, Pruzan and Smith hope that the relationships they have built through their years in the Wilmington market – including involvement in community activities – will help them build Southern Bank locally.

NewBridge Bank was acquired by Yadkin Bank in a transaction that became final March 1. There is some overlap in locations in the Wilmington market, where Yadkin has two branches and Newbridge has nine. Interviewed March 1, Yadkin Bank CEO Scott Custer said that local customers of both banks would see no change for six months or so, while the two banks prepared to integrate their systems.

Asked how the merger could affect local NewBridge personnel, Custer said Yadkin Bank does not comment on personnel matters.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Chris coudriet headshot 300x300 10211545555

For These Things and More, I Am Thankful

Chris Coudriet - New Hanover County Government
Dallas headshot 300x300

Why You'll Need an Advisor Team

Dallas Romanowski - Cornerstone Business Advisors
Img 0621

Tax Evasion Versus Tax Avoidance

Karen Durda - Century Accounting and Tax Services, Inc.

Trending News

Pender County To Get Another Distribution Firm

Christina Haley O'Neal - Dec 13, 2018

Supplying This Year's Oyster Season

Jessica Maurer - Dec 14, 2018

Why This House Coming To Marsdon Avenue Is Unique

Cece Nunn - Dec 14, 2018

Top Stories No. 7: Vertex Railcar Reaches End Of The Line

Cece Nunn - Dec 14, 2018

Top Stories No. 9: GE Power Split Includes GE Hitachi

Christina Haley O'Neal - Dec 14, 2018

In The Current Issue

Top Stories No. 2: Realtors: Housing Market Still Strong

2018 Year in Review: Out of the gate in 2018, home sale statistics in the Wilmington area – including New Hanover, Brunswick and Pender coun...


Top Stories No. 3: Major Transportation Projects Get Underway

2018 Year in Review: The year saw significant investments in transportation projects around the area, including at the port, airport and maj...


Downtown Still In Demand, Despite Vacancies

Real estate professionals say empty storefronts along Front Street and elsewhere in downtown Wilmington aren’t indicative of a declining mar...

Book On Business

The 2018 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2018 Power Breakfast - Dishing on the Restaurant Biz
2018 WilmingtonBiz Expo - Keynote Lunch with Eric Dinenberg, Rouse Properties
2017 Health Care Heroes