Carter Bankshares, Inc. Appoints Two New Members to Board of Directors
Carter Bankshares, Inc. (NASDAQ:CARE) has appointed Jacob A. Lutz, III and Curtis E. Stephens to its Board of Directors, effective March 23, 2022. Lutz, a retired partner from Troutman Pepper, brings over 20 years of financial services expertise, focusing on regulations and compliance. Meanwhile, Stephens offers a diverse background across various industries, enhancing the board's governance and strategic capabilities. This leadership change aims to foster continued growth and innovation in the company.
- The appointment of Jacob A. Lutz, III and Curtis E. Stephens is expected to enhance the board's governance and strategic decision-making.
- Lutz's extensive experience in financial services and regulations could improve compliance and operational efficiency.
- Stephens' diverse industry background may introduce fresh perspectives and innovative practices to Carter Bankshares.
- None.
Jacob A. Lutz, III and Curtis E. Stephens Will Help Guide the Continued Growth of Carter Bankshares, Inc.
MARTINSVILLE, VA / ACCESSWIRE / March 24, 2022 / Carter Bankshares, Inc. (the "Company") (NASDAQ:CARE), the holding company for Carter Bank & Trust, announced the appointment of two new members to its Board of Directors - Jacob A. Lutz, III and Curtis E. Stephens, both from Richmond, Virginia.
"We're excited to bring both Jake and Curtis on to the Company's Board of Directors," said Litz Van Dyke, Chief Executive Officer of Carter Bankshares, Inc. "The knowledge and experience that both of these individuals bring will be instrumental in guiding the continued growth of and shaping the future of Carter Bankshares, Inc."
Mr. Lutz is a retired former partner of the law firm Troutman Pepper Hamilton Sanders LLP ("Troutman Pepper"), having served as chair of the firm's Financial Services Practice for 20 years from the firm's Richmond, Virginia office. In his role with Troutman Pepper, Mr. Lutz focused on numerous critical matters for banks and other financial services companies, including financial services securities and capital markets, financial services mergers and acquisitions, financial services regulation, and compliance and community banking. Prior to joining Troutman Pepper, Mr. Lutz served as an attorney with the FDIC, working from both its Washington, D.C. headquarters and its regional office in Atlanta, Georgia.
Mr. Stephens brings experience as a board member, executive and entrepreneur in the consumer services, transportation, real estate, manufacturing, technology and sports and entertainment industries to the Carter Bankshares, Inc. Board of Directors. Mr. Stephens has diverse perspectives in business and governance with his experience in privately‐held and publicly-listed companies in a range of senior leadership capacities in field, headquarters and corporate global assignments. Mr. Stephens' business background includes a focus on negotiations, due diligence, financial and operations stewardship, and disruptive technology.
The appointments of Mr. Lutz and Mr. Stephens to the Board of Directors were effective March 23, 2022.
About Carter Bankshares, Inc.
Headquartered in Martinsville, Va., Carter Bankshares, Inc. is a
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SOURCE: Carter Bankshares, Inc.
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