A longtime Charlotte-based financial institution is expanding to the Charleston region, marking its first foothold in South Carolina.
CommunityOne Bank recently announced it’s opening a commercial loan production office in Mount Pleasant.
The lender is leasing space at 260-C W. Coleman Blvd. The office is expected to be fully operational by mid-August.
The company has named Brooks Melton as its area commercial banking executive. Also, former First Federal veteran Eric Wooten has joined the bank as commercial relationship manager.
Melton said CommunityOne plans to “opportunistically add lines of business as we are able to identify the right people.”
The bank is a subsidiary of CommunityOne Bancorp. Founded in 1907 as First National Bank of Asheboro,, the company operates 45 full-service branches throughout central, southern and western North Carolina. Its other loan offices are in Raleigh, Winston-Salem. The community bank has assets of $2.2 billion.
“South Carolina is an important part of the long-term vision for CommunityOne and a natural progression of our growth strategy,” CEO Bob Reid said in a written statement. “The Charleston market is so dynamic that it really stands out as the right choice for our first South Carolina location.”
The bank is scheduled to release its second-quarter earnings Thursday. Through March 31, CommunityOne reported $2.5 million in net income.
Contact John McDermott at 937-5572