A lot of banks are in the trenches right now — they are in contraction mode. Oakworth, on the other hand, is expanding. Not only does Oakworth have impressive organic growth, but it has done that in a sound and risk-focused manner through strong asset quality and capitalization. It hasn’t absorbed or acquired a lot of other banks in order to expand. That’s how most of the big banks, which we have a lot of in Charlotte, have reached their size. The problem with that? As banks consolidate, people get lost in translation. The personal, high-touch relationship structure is removed.
Oakworth has size and scale – the capacity of a larger institution but without the segregation. Everything is approached with a customized, team-based approach.
I think Oakworth is core values focused and holistic, able to engage in more targeted conversations around customized solutions. This reduces the duplicative conversations that clients have to have with more siloed banks. It’s painful to have a relationship with five or six banks just to get the best service.
Morrison Creech, another Central Carolinas Market Board Member, and my father were long-time friends from Wells Fargo. Morrison introduced us to some of the leadership team at Oakworth — Forest Whatley, Scott Reed, and Tim Beck – and told us about Oakworth’s plans for growth. I was thrilled when asked to join the Oakworth Central Carolinas Market Advisory Board. I manage the front office of a family LLC (Salem Capital), so I see the banking business through a different lens. I also have 16 years of experience in banking, prior to joining the family office. Having a demographically diverse board that reflects the target market is important and that something not every board has.
This organic growth is also a result of the bank’s internal culture. The quality of the team Oakworth has assembled speaks volumes. Oakworth gets behind its employees, and that isn’t lost on me. Sometimes in the quest to be “client first,” employee wellness and benefits, development and recognition get lost. Not at Oakworth. The retention rate speaks to the team-based culture.
About Blake Evans
Blake worked in the banking industry for almost 16 years before transitioning to his current role as comanager, president & CEO of Salem Capital LLC, a fully integrated family office. He specializes in commercial real estate, private equity, investment management, credit analysis, business banking/commercial/SBA underwriting, securities-based lending, high net worth/private wealth lending and risk reporting and review. Prior to joining Salem Capital, his roles included working in the Charlotte area for Truist and SunTrust in commercial lending, as well as Bank of America Merrill Lynch and Morgan Stanley Private Bank.