the bank announced Friday. He will be replaced by the bank's president, Rick Callicut.
Montgomery will remain on the bank's board of directors. High Point-based BNC is the parent company of Bank of North Carolina.
The bank bought Charlotte-based commercial bank First Trust last year, giving it a larger foothold in the Charlotte market. It now has three branches and a mortgage office in the city, as well as branches in Concord and Mooresville.
Update Tuesday: The company disclosed Tuesday morning more details of Montgomery's retirement package. For two years, he'll get a $200,000 annual consulting contract, the title to the company car he's been using, a $500 monthly car allowance, $125 per month for his cell phone, country club dues and medical care.