The president of Park Sterling Corp., a Charlotte-based bank, profited more than $1 million after exercising options and selling shares, according to a Dec. 6 Securities and Exchange Commission filing.

Bryan Kennedy sold 112,812 shares of stock at $9.5164, netting $1,073,564.

After the sale, he still owns 354,200 shares worth more than $3 million.

Kennedy assisted in starting Park Meridian Bank in 1991 and served as executive vice president. Once the bank was sold to Regions Bank in 2001, he acted as the North Carolina Regions president.

Kennedy left to start his own bank years later and opened Park Sterling Bank in October 2006 after raising over $45 million in capitol.

Park Sterling has $2.3 billion in assets and 54 branches across the Carolinas, Virginia and Georgia.

The company’s stock closed at $9.75 and is trading Tuesday at $9.80.