Print
Banking & Finance

Southern Bank And Trust Spreads Its Wings

By Jenny Callison, posted Nov 1, 2019
The team at Southern Bank in Wilmington has room to grow with its purchase of office space at Mayfaire (Photo c/o Southern Bank)
In its first year with a full-service branch in Wilmington, Southern Bank and Trust Co. seems to be making big strides.
 
The bank, based in Mount Olive, entered the Wilmington market in 2016 when Newbridge Bank veterans Paul McCombie, Leon Pruzan and Lenny Smith opened a loan production office in the Landfall Executive Center. They later moved their operations to a suite in The Offices at Mayfaire III.
 
In August, the bank purchased its space at The Offices at Mayfaire III, as well as the remainder of the building’s first floor, for $3.3 million.
 
“We have a couple of tenants – a law firm and Chemtex Global Corp. – but the fourth suite is vacant, which gives us an immediate opportunity to expand,” said McCombie, who is Southern Bank’s Cape Fear market executive. “Eventually, we hope to occupy the whole floor.”
 
McCombie added that the Wilmington branch’s staff of eight provides boutique banking.
 
“Our target is the small- to medium- sized businesses and professional market,” he said. “We have a big medical portfolio, as well as dentists, attorneys, CPAs and engineering firms. [Southern] Bank has been generous in developing a suite of products and services for that market that are cost effective.”
Ico insights

INSIGHTS

SPONSORS' CONTENT
Mike stonestreet 300x300

When And How To Make Changes To Your Association's Governing Documents

Mike Stonestreet - CAMS (Community Association Management Services)
Dave sweyer 300 x 300

Is It Time To Adjust The Rental Rate On Your Investment Property?

Dave Sweyer - Sweyer Property Management
Chris coudriet

Minority And Women Business Enterprise Program Aims To Increase Economic Diversity

Chris Coudriet - New Hanover County Government

Trending News

K9000 Dog Wash To Open New HQ Space In Wilmington

Christina Haley O'Neal - Dec 5, 2019

In Brunswick Co., Firm Buys 16 Acres For Luxury Apartments

Cece Nunn - Dec 5, 2019

PPD's Proposed IPO Comes Amid Growing CRO Market, Industry Expert Says

Christina Haley O'Neal - Dec 5, 2019

Mayfaire Town Center Welcomes Lily Pulitzer Retail Store

Cece Nunn - Dec 6, 2019

Filming Reels In Jobs, Spending

Christina Haley O'Neal - Dec 6, 2019

In The Current Issue

A Wave Of Woes

While recent projects mark major milestones for the Cape Fear Public Transportation Authority, which does business as Wave Transit, the agen...


Retired Leader Reflects On Service

Ann Hardy, recently retired as manager of Brunswick County and received the Order of the Long Leaf Pine in October, looks back on her career...


First Carolina Bank Hires Cameron, Preps For Branch

The next six months will be busy ones for First Carolina Bank, as the Rocky Mount-based financial institution prepares to open a full-servic...

Book On Business

The 2019 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2019 Health Care Heroes
August 26, 2019 Power Breakfast: A Healthy Sale?
2019 WILMA Leadership Accelerator
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`