Tuesday, May 8, 2012

VantageSouth hires in Salisbury after merger

VantageSouth, which entered Salisbury after acquiring the Community Bank of Rowan earlier this year, reported Tuesday that it has increased staffing by 43 percent in the two branches it operates in the city.

Though many banks shed jobs after a merger, this move comes as its parent company, Raleigh-based private equity group Piedmont Community Bank Holdings Inc., seeks to expand its banking presence. The bank has hired in numerous positions at VantageSouth, including upper management in Salisbury.

The parent company also bought a controlling stake in Cary's Crescent Financial Bancshares Inc. last year.

Last month, VantageSouth was named the state's top Small Business Administration lender.