Tuesday, September 17, 2013

Carolina Trust Bank CEO to retire

Carolina Trust Bank CEO Mike Cline will step down from the position at the end of the year or as soon as a successor is found, the bank announced Monday. The 62-year-old Cline has been in the role since the bank was chartered 13 years ago. In that time, the bank has gone from one branch to eight and grown to $265 million in assets.

Before taking the job, Cline had been an area vice president at First Citizens Bank. Sockwell Partners of Charlotte will help look for his replacement.

BB&T PUSHES CORPORATE BANKING INTO MIDWEST: The Winston-Salem bank announced Tuesday a new team of bankers to be based in Chicago, with the goal of expanding its corporate banking presence throughout the Midwest. The team will focus on agribusiness, food and beverage in particular. ""The hiring of these seasoned corporate bankers continues the acceleration of our national growth strategy," CEO Kelly King said in a statement. "We believe that BB&T's relationship-based, values-driven approach along with a strong balance sheet will resonate solidly with clients in the Midwest."

****This is a preview of The Charlotte Observer's Bank Watch Morning Report, bringing you banking news from the region, the top financial headlines, and the news driving activity in the Charlotte market.****