Oakworth Capital Bank Opens Its Doors in The Central Carolinas

Rhea-AI Summary

Oakworth Capital Bank® opens new office in Charlotte to provide personalized financial services.

Positive

• Oakworth Capital Bank® has reported 27% higher diluted earnings per share and 26% higher earnings year-to-date compared to the same period last year, demonstrating balanced growth and stability.
• The bank's Central Carolinas office is now open and offers commercial and private banking, wealth management, and advisory services.
• Oakworth has been named the #1 'Best Bank to Work For' for five consecutive years and has a high client retention rate of 96%.

Negative

• None.

Charlotte Office to Extend Oakworth's Distinctive Level of Client Service

BIRMINGHAM, Ala., Oct. 11, 2023 /PRNewswire/ -- Oakworth Capital Bank® (OTCQX: OAKC) announced its Central Carolinas office is now open and serving businesses, professionals and families. Located in the SouthPark Towers at 6000 Fairview Road, Suite 125, the bank's first floor suite of offices and conference rooms make it convenient for clients looking for the kind of personalized experience that make their financial lives easier.

"We are extremely excited to begin fully serving clients from our new office. Our purpose at Oakworth is to provide expertise and services that support the success of our client relationships," said Oakworth Chairman and CEO Scott Reed.

"We've assembled an outstanding team in Charlotte to provide commercial and private banking, wealth management and advisory services, using the latest technology in this dynamic market," Reed added.

Central Carolinas Managing Director and Market Leader Tim Beck shared, "I couldn't be more excited about the companies and individuals in Charlotte and the surrounding communities who will benefit from Oakworth's distinctive experience. Our doors are open; we're ready to tailor solutions for clients and exceed expectations."

Financial Stability: 
Oakworth has demonstrated balanced growth and stability. As of June 30, 2023, the bank reported 27% higher diluted earnings per share and 26% higher earnings year-to-date  compared to the same period in 2022. Pre-tax, pre-provision income increased 24% in the same period. First half 2023 return on average equity was 11.6% and return on average assets was 1.0%.

Awards & Recognitions: 
Oakworth has been named the #1 "Best Bank to Work For" for the past five consecutive years by American Banker magazine. Additionally, Oakworth has maintained a Net Promoter Score (NPS) of 96 out of 100 and has a client retention rate of 96%.

Central Carolinas Associates: 
Oakworth's Central Carolinas advisors include Tim Beck, managing director and market leader; Alice B. Womack, managing director, private wealth (previously with Oakworth in Birmingham, Alabama); Mike Davidson, associate managing director, commercial banking (previously with Fifth Third Bank); Laura Snead, client advisor, private banking; Patrick Ray, client advisor, commercial banking (previously with Fifth Third Bank); and Jeff Cremens, treasury management advisor (previously with US Bank).

Central Carolinas Board Members:
Serving on the Oakworth Central Carolinas market board are Morrison Creech, retired head of private banking for Wells Fargo: Kimberly Mize, president and CEO of Kimberly Mize Consulting; Blake Evans, president and CEO of Salem Capital and Steve Smith, president of The McAuley Smith Firm. Read their testimonials about joining Oakworth's board and why they believe Oakworth will make a huge impact in Charlotte.

Central Carolinas Photo Gallery:
A photo gallery featuring the Oakworth team and a tour of the new space at SouthPark Towers is available for viewing and downloading. High-resolution photos available upon request. Photo credit should be attributed to Joe Ciarlante, on behalf of Oakworth Capital Bank.

About Oakworth Capital Bank

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

As of June 30, 2023, Oakworth had $1.4 billion in total assets, $1.1 billion in gross loans, $1.2 billion in deposits and $2.0 billion in wealth and trust assets under management. For more information, visit www.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

What services does Oakworth Capital Bank® provide in their new office in Charlotte?

Oakworth Capital Bank® offers commercial and private banking, wealth management, and advisory services in their new office in Charlotte.

What are the financial highlights of Oakworth Capital Bank®?

As of June 30, 2023, Oakworth Capital Bank® reported 27% higher diluted earnings per share and 26% higher earnings year-to-date compared to the same period in 2022. The bank also had a return on average equity of 11.6% and a return on average assets of 1.0% in the first half of 2023.

Has Oakworth Capital Bank® received any awards or recognition?

Yes, Oakworth Capital Bank® has been named the #1 'Best Bank to Work For' for the past five consecutive years by American Banker magazine. The bank also has a Net Promoter Score (NPS) of 96 out of 100 and a client retention rate of 96%.