TrustAtlantic Bank Hires Greenville Market PresidentRaleigh, N.C.—July 08, 2007—TrustAtlantic Bank (TrustAtlantic) announced an addition today to its senior management team. J. Freeman Paylor will serve as Greenville Market President for the bank and will be responsible for the growth and development of the greater Greenville, North Carolina market. Mr. Paylor comes to TrustAtlantic after a successful 25-year career with Wachovia Bank, where he held various management and lending roles throughout eastern North Carolina. He has an extensive background in commercial banking, wealth management and retail banking, and has been active in community and civic activities throughout his career.
"We are very excited that Freeman has agreed to lead our Greenville expansion," said Randy Powell, Executive Vice President and Chief Banking Officer for TrustAtlantic. "His leadership experience and diverse banking background lend us immediate credibility in Pitt County. We have aggressive growth plans in this market, and I am confident that Freeman and his team will meet and exceed those expectations."
"This was a unique opportunity I felt I couldn't let pass," stated Paylor. "The bank's strategy includes targeting mid-size businesses and their owners, and I've always felt that the Greenville area is a perfect market for this type of business plan. The bank's expanded capital base and lending capacity will allow us to pursue relationships that were previously too large prior to the acquisition and capital infusion."
Paylor is a native of Kinston, North Carolina and a graduate of the University of North Carolina at Chapel Hill. He currently lives in Greenville with his wife Martha and two sons. His office is in the TrustAtlantic regional headquarters located at 1310 W. Arlington Boulevard in Greenville. TrustAtlantic is in the process of changing its name from Millennia Community Bank to TrustAtlantic Bank.
About TrustAtlantic Bank:
Currently headquartered in Greenville, North Carolina, TrustAtlantic Bank is the wholly owned subsidiary of TrustAtlantic Financial Corporation. TrustAtlantic Financial, headquartered in Raleigh, North Carolina, recently completed an acquisition of Millennia Community Bank in Greenville, North Carolina. The bank operates two banking offices in Greenville and expects to begin banking operation in Raleigh in the near future, and also intends to move its headquarters to Raleigh soon. The bank's primary competitive focus will be to build broad financial relationships with mid-market businesses and their owners, professionals and other individuals who desire value-added service. Going forward, the company anticipates operating branch offices in the greater Raleigh-Durham metro area, as well as Greenville.