With the completion of an acquisition by Raleigh-based West Town Bancorp Inc. of Morehead City-based Sound Bank this summer, there will be benefits to Sound Bank customers in the Wilmington community, but no overt changes, said the bank’s area executive.
“Sound Bank is Sound Bank. To the general public, there is no difference [since the merger]," said Mark Johnson, who oversees Sound Bank’s operations in the New Hanover County market. “Our former CEO, Phil Collins, is now Sound Bank’s president, and sits in Morehead City. Our banking operation is essentially going to stay the same for now, except that Phil is going to be reporting to some folks out of Raleigh.”
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The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.