Oakworth Capital Bank Names New Members to Central Alabama Market Board

Rhea-AI Summary

On April 18, 2023, Oakworth Capital Bank (OTCQX: OAKC) announced the appointment of Tate Forrester and Craig Hey to its Central Alabama Market Board. Forrester, the president and CEO of O'Neal Steel, brings over 12 years of experience, while Hey is a vice chair at Cushman & Wakefield, having sold multifamily properties valued over $9 billion. Bill Pitts, Oakworth's managing director, highlighted the strong community respect both leaders command. Oakworth, founded in 2008, has recently been recognized as the 'Best Bank to Work for' for five consecutive years and boasts impressive financial metrics, including total assets of $1.3 billion and a Net Promoter Score of 96.

Positive

• Tate Forrester and Craig Hey are highly respected leaders with extensive experience.
• Oakworth has been named the #1 'Best Bank to Work for' for five consecutive years (2018-2022).
• As of Dec. 31, 2022, Oakworth reported total assets of $1.3 billion and deposits of $1.2 billion.
• Net Promoter Score of 96 out of 100 and a client retention rate of 95% in 2022.

Negative

• None.

Tate Forrester of O'Neal Steel & Craig Hey of Cushman & Wakefield's Multifamily Advisory Group Bring Depth of Leadership Experience

BIRMINGHAM, Ala., April 18, 2023 /PRNewswire/ -- Oakworth Capital Bank (OTCQX: OAKC) announces that Tate Forrester and Craig Hey have joined Oakworth's Central Alabama Market Board.

"Both individuals are highly respected leaders in our community," said Bill Pitts, managing director and market leader for Oakworth in Central Alabama. "We are proud to welcome them to our board, and we look forward to the valuable insight and guidance they will provide."

Forrester is president and CEO of O'Neal Steel, overseeing its 18 strategically located steel distribution centers throughout the country. Having been with O'Neal Steel and its parent company, O'Neal Industries, for over 12 years, he has held various operational and leadership roles. Prior, he worked in corporate finance with Morgan Stanley in New York. 

"I work with Oakworth for the same reason I love working at O'Neal Steel – their passion is fueled by knowing they make a difference for their clients, associates and the communities they serve," Forrester said.

Hey is a vice chair of the Sunbelt Multifamily Advisory Group at Cushman & Wakefield in the Birmingham office. He is responsible for marketing multifamily properties in Alabama, Arkansas, Mississippi and Northwest Florida. Hey has been involved in selling 525 communities with nearly 95,000 units, representing a value of over $9 billion.

"It's a privilege to be invited to sit on the Oakworth Central Alabama Market Board with numerous local business leaders whom I can learn a lot from," said Hey. "As a bank, Oakworth has set the client service and experience bar high, and I've been the beneficiary of that for years now."

The Central Alabama Market Board is comprised of leaders in the local community who embody Oakworth's Core Purpose of Helping People Succeed while demonstrating leadership through our Core Values—Golden Rule, Character, Innovative & Creative Spirit, Professionalism and Work Ethic.

About Oakworth
Oakworth Capital, Inc. operates as the bank holding company for Oakworth Capital Bank (OTCQX: OAKC). Oakworth was founded in 2008 and operates three offices in the Southeast, including its headquarters in Birmingham, Alabama and plans to open a fourth office in 2023. Oakworth provides commercial and private banking, wealth management and advisory services to clients across the United States.

Oakworth has been named the #1 "Best Bank to Work for" for the past five years in a row (2018-2022) by American Banker. Additionally, Oakworth has earned a Net Promoter Score (NPS) of 96 out of 100 (April 2022 to April 2023) and has a client retention rate of 95% in 2022. As of Dec. 31, 2022, Oakworth had $1.3 billion in total assets, $974 million in gross loans, $1.2 billion in deposits and $1.8 billion in wealth and trust assets under management. For more information, visit oakworth.com.

For more information contact:
Sonia Blumstein
Phone: 205-278-2017
Email: sonia.blumstein@oakworthcapital.com

 

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SOURCE Oakworth Capital Bank

FAQ

Who are the new members appointed to the Central Alabama Market Board of Oakworth Capital Bank?

Tate Forrester and Craig Hey have been appointed to the Central Alabama Market Board of Oakworth Capital Bank.

What is the stock symbol for Oakworth Capital Bank?

Oakworth Capital Bank trades under the stock symbol OTCQX: OAKC.

What financial achievements does Oakworth Capital Bank have as of 2022?

As of Dec. 31, 2022, Oakworth reported total assets of $1.3 billion, gross loans of $974 million, and deposits of $1.2 billion.

How has Oakworth Capital Bank's client satisfaction score changed?

Oakworth achieved a Net Promoter Score of 96 out of 100 from April 2022 to April 2023.