A group of organizers applied with the Federal Deposit Insurance Corp. to obtain a North Carolina state commercial bank charter and FDIC insurance for a proposed de novo bank dubbed Community Bank of the Carolinas in Forsyth County, N.C.
The de novo bank's management team will include Simpson Brown Jr. as director, president and CEO as well as James Monroe Jr. as director and CFO, according to a filing recently obtained by S&P Global Market Intelligence.
Brown, who has more than 35 years of banking experience, served as president and CEO of TriStone Community Bank. When TriStone was acquired by First Community Bank, a unit of First Community Bancshares Inc., Brown served as regional president for the surviving entity. For over 35 years, Monroe took on various treasury roles in the banking and finance industry.
Other proposed directors include Louis Baldwin Jr., Tomothy David Bohon, Lida Calvert-Hayes, Ashley Carros and William White III. The proposed operating and credit chiefs are yet to be named.
The group is also targeting to raise at least $25.0 million in initial capital. The proposed capital raising will issue between 2,272,728 to 2,727,273 shares at $11 apiece.
The de novo intends to locate its initial office at 312 Jonestown Road in Winston-Salem, N.C.
