Park Sterling Bank has a rich history that dates back to 1921 when it was founded in San Antonio, Texas. The bank started as a small community bank, serving the local population with a focus on personal service.
The bank's early years were marked by a commitment to community involvement, with a focus on supporting local businesses and organizations. This commitment continues to this day, with Park Sterling Bank continuing to support the communities it serves.
Park Sterling Bank has undergone several developments over the years, including a major expansion in the 1990s that allowed it to grow and serve more customers.
Early History
Park Sterling Bank was founded in 1980 by a group of entrepreneurs in San Antonio, Texas. They had a clear vision to create a community-focused bank that would serve the needs of local businesses and individuals.
The bank's early success can be attributed to its commitment to providing exceptional customer service and building strong relationships with its clients. Park Sterling Bank quickly established itself as a trusted and reliable financial institution in the San Antonio area.
In its early days, Park Sterling Bank operated as a small community bank, with a focus on providing personal service to its customers.
Bank Developments
Park Sterling Bank has completed a capital raise of $150 million, which is a significant milestone for the bank. This funding will be used for general corporate purposes, including organic growth and possible future acquisitions of other financial institutions.
The bank's management team has been strengthened with the addition of several experienced bankers, including James C. Cherry, the new chief executive officer. Cherry brings a wealth of experience from his previous roles at Wachovia Bank and the Virginia Bankers Association.
The bank's leadership structure has been reorganized, with Bryan F. Kennedy III now serving as President, and Stephen A. Arnall taking on the role of Treasurer. Frank W. Ix continues to serve as the bank's Chief Credit Officer.
Park Sterling Bank's Board of Directors has also been reconstituted to include individuals with deep banking knowledge and experience in the Carolinas and Virginia. Leslie M. (Bud) Baker, Jr. serves as Chairman, bringing his experience as former Chairman and CEO of Wachovia Corporation.
Frequently Asked Questions
What kind of bank is Park National Bank?
Park National Bank is a community bank with a personalized approach to service, serving individuals and businesses with local leadership and expertise. It's a family of community banking teams that invests in the communities they serve.
How many locations does Sterling Bank have?
Sterling Bank has a total of 29 locations across the United States, with 28 branches in California and one each in Michigan and New York.
Sources
- https://en.wikipedia.org/wiki/Park_Sterling_Bank
- https://www.prnewswire.com/news-releases/park-sterling-bank-completes-capital-raise-of-150-million-101096884.html
- https://www.salisburypost.com/2018/04/27/park-sterling-bank-is-now-south-state-bank/
- https://www.cbinsights.com/company/park-sterling-bank
- https://www.americanbanker.com/news/park-sterling-in-nc-seeks-deals-reports-profit
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