Friday, April 12, 2013

Swope Montgomery retiring at BNC

BNC Bancorp CEO Swope Montgomery will retire in June on his 65th birthday, 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.