NewBridge Bancorp has launched a middle-market banking group and hired an experienced commercial banking and treasury services team to support this new line of business. This six-person team of seasoned banking professionals will focus on companies generating annual revenue from $25 million to $250 million throughout the Carolinas from the Bank's current office in Charlotte, North Carolina, and a new office in Greenville, South Carolina.
Additionally, the bank plans to expand the middle-market banking team in the Piedmont Triad region of North Carolina, where the Company and Bank are headquartered, and in the attractive Triangle region of North Carolina, where the company recently completed its acquisition of CapStone Bank. The bank may also target other vibrant markets in the Carolinas and Virginia in the future.
The new team brings to the Company extensive large and regional commercial banking experience and proven results building middle-market banking business and treasury services throughout the Southeast.
Pressley A. Ridgill, President and Chief Executive Officer of NewBridge, commented: "We are excited to enter an attractive middle-market banking segment. NewBridge Bank is expanding its commercial banking capabilities by hiring dedicated resources to provide premier financial services to middle-market companies. With consolidation in the banking industry and the evolving strategies of the larger national banks, we feel the middle-market sector represents an underserved market segment. We now have specialized expertise and the ability to provide customized banking solutions, including direct and syndicated lending services, and highly tailored treasury management capabilities to thriving middle market companies.
"As we have expanded the NewBridge Bank franchise throughout key North Carolina and contiguous regional markets, our driving focus has been to lead with hiring the top individuals in their fields. The middle-market commercial banking professionals we have assembled have demonstrated results throughout their individual careers, and as a team."
From the bank's Charlotte office, this team will be led by Michael "Mike" J. McMahan, Executive Vice President and Director of Middle-Market Banking Group and Treasury Services. He brings to NewBridge Bank decades of large and regional bank experience, including 20-plus years at Bank of America, where he managed professionals in origination, underwriting and syndication of opportunities and relationships in the large corporate banking, middle-market and large ticket lease finance sectors on a national basis. He most recently served as Head of Wholesale Banking Group, Specialty Finance, Treasury and Information Management, and Capital Solutions for a regional bank headquartered in the Southeast.
Thomas "Tommy" E. DeMint, III will be based out of Greenville, South Carolina and serve as Senior Vice President and Head of Middle-Market Banking Group in South Carolina, and as Head of Syndicated Finance. DeMint's background includes tenures with Bank of America and Wachovia Bank as a senior member of the Middle-Market Capital team responsible for originating, syndicating, purchasing and managing a billion dollar portfolio of middle-market corporate loans across a national footprint. Throughout his career, DeMint has focused on structuring and syndicating middle-market and large corporate financings across a broad spectrum of industries. He maintains a diverse network of corporate, private equity, traditional and specialty lending relationships in the middle-market segment.
Joining McMahan in Charlotte will be Robert "Bob" C. Beggs, Walter V. Bridgeman, Joseph "Joe" P. Watkins, Jr. and Mark A. Schuch.
Beggs will serve as Senior Vice President and Senior Relationship Manager. His vast 30-year banking career includes serving as Senior Vice President and Senior Relationship Manager in commercial banking for Wells Fargo Bank, and roles as a Vice President and Commercial Development Officer. His primary career focus has been and will be serving middle-market companies.
Bridgeman joins NewBridge Bank as Senior Vice President and Head of Treasury Services. He will manage the development and leadership of a best-in-class treasury services team with enhanced product offerings tailored specifically for middle-market, commercial, private and business banking clients. His treasury sales experience includes nearly two decades with Bank of America serving middle market clients as well as RBC Bank, where he specialized in providing treasury management services for international subsidiaries.
Watkins, Jr. joins NewBridge Bank as Director of Product Management for Treasury Services, bringing more than 20 years of experience with Bank of America and BB&T managing treasury products, payments and commercialized cash flow solutions for a wide range of small, middle-market and global corporations.
Schuch will serve as Product Manager for Treasury Services. His career at Bank of America and BB&T includes extensive collaboration with large and middle-market corporations to build and manage automated collections, payments, cash management and operations.
Spence H. Broadhurst, Senior Executive Vice President and Chief Banking Officer, who oversees the Bank's distinct lines of business, concluded: "With established and extensive contacts and experience serving the middle-market sector, we anticipate this team will start generating results immediately."
NewBridge Bancorp is the bank holding company for NewBridge Bank, a full service, state-chartered community bank headquartered in Greensboro, North Carolina.
NewBridge Bank is one of the largest community banks in North Carolina. NewBridge Bank serves small to midsize businesses, professionals and consumers with a comprehensive array of financial services, including retail and commercial banking, private banking, wealth management and mortgage banking. NewBridge Bank currently has assets of approximately $2.4 billion with 40 branches and several loan production offices throughout North Carolina.