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
Carolinemontgomery4

KPIs: Finding Your True North

Caroline Montgomery - Adam Shay CPA, PLLC
Leath 683x10242

How to Avoid A Nightmare Holiday Party

Lisa Leath - Leath HR Group
Jasonpathfinder3

What Is A Financial Plan?

Jason Wheeler - Pathfinder Wealth Consulting

Trending News

White, Olson-Boseman Talk Hospital, Unlikely Partnership At Power Breakfast

Cece Nunn - Dec 12, 2019

Local United Way CEO Retires

Cece Nunn - Dec 11, 2019

With New Record, ILM Eyes 1M Passengers For 2019

Christina Haley O'Neal - Dec 11, 2019

In RiverLights, Firm Buys Land For 250 Apartments

Cece Nunn - Dec 12, 2019

Midtown Center Welcomes New Tenants, Revamped Store

Cece Nunn - Dec 13, 2019

In The Current Issue

Filming Reels In Jobs, Spending

Film recruiters this year landed five productions in Wilmington, and all but one project has wrapped....


Retiree Volunteers: 'We're Just Not Done Yet'

More than 6 out of 10 adults age 55 and older engage in some volunteer activity in the U.S. The sizeable number of volunteering retirees can...


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...

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`