Aquesta Bank announced today expansion and realignment of its management resources. Effective August 16, 2010, Lawrence (Trey) Weir III will join Aquesta Bank as Executive Vice President- Director of Business Banking and Tim Beck will join Aquesta Bank as Senior Vice President-Chief Credit Officer.
We are also pleased to announce that Kenneth (Buddy) Caldwell, who was instrumental in the formation of Aquesta Bank and who currently serves as Chief Credit Officer, will become our new Chief Lending Officer. Since the inception of the bank, Buddy has served in the dual capacity of Chief Credit Officer and Chief Lending Officer. As Chief Credit Officer, Buddy has helped guide Aquesta safely through the most difficult economic period in our lifetime. Aquesta Bank is now positioning itself for future opportunities. Buddy’s dual role as Chief Credit Officer and Chief Lending Officer is being split to better segregate these two roles. Going forward, Tim Beck will be responsible for all aspects of credit risk, underwriting, regulatory reviews, etc., while Buddy’s role will be to focus on safe, profitable growth of the commercial loan portfolio.
Trey Weir is joining Aquesta in a newly created position to help foster improvement in all aspects of our customer service and business development, including oversight responsibility for our Aquesta Relationship Teams initiative. In this role, Trey will be responsible for hiring, training, coaching and leading the cross functional sales and relationship activities of the Bank, including coordination of resources with our insurance agency subsidiary. Prior to joining Aquesta Bank, Trey most recently served as Senior Vice President and Market Manager for Fifth Third Bank, Retail Banking Manager for First Charter Bank and previously Regional Manager for Centura Bank. Trey and his wife, Susan, and their children are residents of Mooresville and lifelong residents of North Carolina. Trey’s education includes degrees from UNCC, UNCW and the Graduate School of Banking at Chapel Hill. Prior to embarking on his banking career, Trey served in the US Army.
Tim Beck brings to Aquesta Bank extensive loan underwriting, regulatory and loan administration process experience. Tim commenced his banking career with Bank of America and then served as a market area commercial lender for South Trust Bank. Subsequently, Tim worked for a number of years in both the commercial lending and home loan lending specialties for other area banks. Most recently, Tim has been working as a consultant to various banks in the loan workout area and has provided extensive consulting assistance to the FDIC for credit analysis and loan restructuring. Tim and his wife, Jane and their child currently live in Charlotte but plan to relocate to the Lake Norman area where they will be both closer to the office and Tim’s twin boys. Tim’s education includes a degree from UNCC and graduation from the North Carolina School of Banking Advanced Management Program at Chapel Hill, N.C.
Commenting on these management changes, Jim Engel (Aquesta Bank President and CEO) said that “Aquesta Bank’s addition of these two highly experienced professionals will position the bank for improvements to customer services, geographic expansion and accelerated growth. Trey brings a wealth of outstanding sales and relationship team building experience to Aquesta Bank to help our focus on providing the best relationship banking available in the Lake Norman community. Tim brings real time risk management experience to the bank that will improve our loan underwriting process, control our lending risks and improve the customer experience.” Jim Engel continued saying, “We believe that Aquesta’s strong capital position, earnings record and customer support will allow us to take advantage of an eventual economic recovery to gain market share and to enhance shareholder value.”
Aquesta Bank is a commercial bank which serves the Lake Norman market with a focus on small to medium sized businesses and professionals. The Bank operates branches in Cornelius, Davidson and Mooresville. Aquesta Bank’s wholly owned independent insurance agency (Aquesta Insurance Services, Inc.) has offices in Cornelius, Mooresville, Concord and Wilmington.
For additional information, please contact Kristin Parsons (Executive Vice President and Chief Financial Officer) or Jim Engel (Chief Executive Officer and President) at 704-439-4343 or visit us online at www.aquesta.com
Information in this press release may contain forward looking statements that might involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include without limitation, the effects of future economic conditions, governmental fiscal and monetary policies, legislative and regulatory changes, and changes in interest rates.