WILMINGTON, N.C., July 25, 2017 (GLOBE NEWSWIRE) -- Select Bank & Trust is pleased to announce the expansion of its branch network into Wilmington, N.C. The new office, located at 1001 Military Cutoff Road, Suite 100, in the Mayfaire commercial district of Wilmington, is expected to open in October 2017.
The full-service branch will offer commercial banking services and traditional banking products and will feature drive-thru lanes as well as a full-service ATM machine, offering customers 24-hour banking.
“Opening a full-service Wilmington branch is a significant milestone for our bank,” said W. Keith Betts, Executive Vice President and Chief Banking Officer. “We have developed a solid customer base in Brunswick and New Hanover counties with our branch in Leland, which led us to establishing this location in Wilmington. The additional branch will provide added convenience for many of our customers, and we believe this location offers significant business opportunities.”
Betts will lead an established team of experienced bankers at the new location. He has 35 years of banking experience, 32 of which he has served in Wilmington. Betts founded Port City Bank in Wilmington in 2001 and served as President and CEO until the bank sold in 2006. “This area is home,” Betts said. “I look forward to developing and molding even more relationships throughout the region offering outstanding personalized service through a high-performing bank.”
On the announcement, William L. Hedgepeth II, President and CEO of Select Bank and its parent company, Select Bancorp, Inc., said, “It has been our goal for some time to further expand the markets we serve. As part of our strategic planning process and growth philosophy, we make an effort to seek out prime locations and identify and hire outstanding employees. This location is a great fit for our bank. We look forward to serving the people of New Hanover County.”
The Wilmington branch announcement comes on the heels of Select Bancorp’s announcement last week of the signing of a definitive merger agreement with Charlotte, N.C. based Premara Financial, Inc. pursuant to which Carolina Premier Bank is proposed to be merged with and into Select Bank. That transaction, which is subject to both shareholder and regulatory approval, would add four new branches to Select Bank’s branch network. If the merger is completed, the combined company will have 18 branches across North Carolina and South Carolina and is projected to have $1.1 billion in total assets.
“Select is intent on being the local community bank of choice in the markets we serve,” Hedgepeth said. “We continue to selectively add to our branch network as we assess all strategies to build shareholder value. Our bank’s mission is, ‘To be the bank of choice in the communities we serve, by providing exceptional customer service, superior products and experienced bankers using a common sense approach to banking.’”
A grand opening celebration for the Wilmington branch will be planned for November.
Select Bank & Trust Company has 13 branch offices located in Burlington, Clinton, Dunn, Elizabeth City, Fayetteville, Goldsboro, Greenville, Leland, Lillington, Lumberton, Morehead City, Raleigh and Washington, North Carolina. More information can be obtained by visiting Select's web site at www.SelectBank.com. Select Bank is a wholly owned subsidiary of Select Bancorp, Inc. (NASDAQ:SLCT), a North Carolina corporation and a bank holding company registered with the Board of Governors of the Federal Reserve System.
