RALEIGH — Sound Bank has expanded into a statewide North Carolina community bank and is now named Dogwood State Bank.
Dogwood State Bank recently opened its new headquarters and Raleigh branch at 5401 Six Forks Road. Prior to opening the Raleigh branch and headquarters, Sound Bank was based in Morehead City. In May, Sound Bank completed a $100 million recapitalization as part of its rebranding plan.
“Dogwood State Bank is positioned to become the bank of choice for businesses, business owners, professionals, and their employees in the North Carolina communities it serves,” reads a release announcing Dogwood State Banks’s rebranding and new headquarters.
New signage at the bank’s various locations are expected to go up later this month, and the transition to the new logo on the bank’s website and other materials is already underway.
The bank has key senior executives based in Raleigh and Charlotte. Its business lines are retail banking, commercial banking and government guaranteed lending. The organization has branches in Morehead City, Raleigh, Greenville and Wilmington, with plans to open a Charlotte location by the end of the year.
The Dogwood State Bank Board of Directors and senior executive team were restructured as part of the recapitalization and North Carolina growth plan. Steven Jones is director and CEO of Dogwood State Bank and Scott Custer is executive chairman of the board of directors. Other members of the bank’s board of directors are David Brody, Fielding Miller, George Perkins III, Sepi Saidi, Richard Urquhart III, Eric Bergevin, Marc McConnell, James Lynch and Martin Friedman.
Additionally, David Therit is chief financial officer, Natasha Austin is chief administrative officer, Greg Heaton is president, Christopher Kwiatkowski is president of government guaranteed lending and Michael Johnson is chief credit officer of the bank.
“We are excited to officially introduce the Dogwood State Bank brand to the market and to continue to build upon the momentum that we’ve experienced during the past five months,” Mr. Jones said. “Opening our headquarters and transitioning to the Dogwood brand allow us to reiterate our commitment to becoming a premier North Carolina community bank.”
According to information on the Dogwood State Bank website about the rebranding, there will be no changes for customers other than the new logo. Customers will not receive new account numbers or otherwise see any changes to how the business is run, and debit cards with the bank’s old name and logo will still work.
Dogwood State Bank has approximately $325 million in total assets.