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With more than three decades of
experience in banking in North Carolina and Virginia, Park
Sterling's CEO James C. Cherry has a lot to say about the state of
community banks and their future. He graciously took the time
to address his successes, leadership philosophy, and some of the
best advice he ever received. It is well worth your time to
read. Park Sterling, a regional, community-focused financial
services company with approximately $2.4 billion in assets, is the
largest community bank in the Charlotte area and has more than 50
branches spread along the Atlantic seaboard stretching from Georgia
to Virginia and looking to add eight more with their recent
announcement of acquisition of First Capital. The bank serves
professionals, individuals, and small and mid-sized businesses by
offering a full array of financial services, including deposit,
mortgage banking, cash management, consumer and business finance,
and wealth management. Park Sterling prides itself on being large
enough to help customers achieve their financial aspirations, yet
small enough to care if they do. Park Sterling is focused on
building a banking franchise that is noted for sound risk
management, customized product solutions and exceptional customer
service.
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By Timothy R. Moore
Cyberattacks are not only increasing in sophistication, but
also are increasingly focusing on smaller financial
institutions. It is incumbent on the board to address
cybersecurity proactively and to plan for the eventual
cyberattack, in whatever form it may come.
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By Rayford K. (Trip) Adams III
The North Carolina Supreme Court recently handed down the final
word in a dispute over whether guarantors get the benefit of
the state's anti-deficiency statute after the lender bids on
and buys the real property at a foreclosure sale.
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By Brienne T. Marco
On the 10-year anniversary of the Interagency Guidance,
financial institutions should take a critical look at their
response programs and refresh their knowledge about the key
components of a defendable response.
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Which article topic would
you like to learn more about? The winning topic will be covered
in a free webinar hosted by one of our attorneys in the next
few weeks.
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Barnett's Five
Rules of Business:
1. Follow the Golden Rule. You cannot go
wrong treating the other man as you would be treated.
2. Give a man 50 cents if you can make a
dollar out of him. In other words, be liberal in your dealings
but always have a net profit. Do not do business at a loss.
3. If a young man is of good habits -
honest, capable, saving, giving close attention to his business
and making progress but lacking in capital - help him. The young
man of today is the businessman of tomorrow.
4. Never make a promise you cannot and do
not fulfill. Investigate carefully before granting a line of
credit; once granted, there being no adverse change in your
client's financial condition, fulfill your promise. Your word
must be as good as your bond.
5. Watch your expense account and your losses;
your profits will take care of themselves
-William
Barnett (1824-1903), Founder of Barnett Bank (1877-1997)
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Your receipt and/or use of this material does not
constitute or create an attorney-client relationship between you
and Spilman Thomas & Battle, PLLC or any attorney associated
with the firm. This e-mail publication is distributed with the
understanding that the author, publisher and distributor are not
rendering legal or other professional advice on specific facts or
matters and, accordingly, assume no liability whatsoever in
connection with its use.
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THIS IS AN ATTORNEY ADVERTISEMENT.
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Responsible Attorney: Michael J. Basile
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