A coastal North Carolina community bank has entered the Wilmington market.

Sound Bank, established in 2001 and headquartered in Morehead City, has opened a loan production office at 1721 Allens Lane, Suite 210. Mark Johnson, a Morehead City native who has spent the past 10 years of his 18-year banking career in Wilmington, heads up the New Hanover County market initiative.

Johnson has previously worked for BB&T and NewBridge Bank.

Sound Bank’s market entry has been a gradual process since the beginning of the year, Johnson said.
“Our ultimate goal, within a year, is to have a full-service branch in Wilmington,” he said.
Sound Bank is “highly relationship-focused,” and its lending will include small businesses as well as larger ones, according to Johnson. 

“We offer a full array of commercial loans, including SBA. Because we’re a coastal bank, we have expertise in boat slip and marina financing. We also have an in-house, competitive 30-year residential product,” he said.

Expanding into Wilmington was a natural choice for Sound Bank, said its president and CEO Phil Collins.

“We’re essentially a coastal North Carolina bank and wanted to have a footprint from Morehead City to Wilmington,” Collins said. “We understand coastal markets very well and are extremely pleased to have Mark join us. Growing up in Morehead City and living in Wilmington for many years have given Mark a special understanding of our communities and the needs of our customers. He is a skilled banker and respected civic leader with a real commitment to making our area an exceptional place to live.”  

The new office is the sixth location for Sound Bank, which has full-service branches in Cedar Point, Beaufort, New Bern and Morehead City, and a loan production office in Jacksonville. Sound Bank’s assets total more than $150 million.