Daily News: July 21, 2014

NewBridge Announces Middle Market Hires

NewBridge Bancorp announced that NewBridge Bank has launched a middle market banking group and hired an experienced commercial banking and treasury services team to support this new line of business. This six-person team of seasoned banking professionals will focus on companies generating annual revenue from $25 million to $250 million throughout the Carolinas from the bank’s current office in Charlotte, NC, and a new office in Greenville, SC.

Additionally, the bank plans to expand the middle market banking team in the Piedmont Triad region of North Carolina, where the company and bank are headquartered, and in the attractive Triangle region of North Carolina, where the company recently completed its acquisition of CapStone Bank.

Pressley A. Ridgill, president and CEO of the company and the bank, said, “We are excited to enter an attractive middle market banking segment. NewBridge Bank is expanding its commercial banking capabilities by hiring dedicated resources to provide premier financial services to middle-market companies.”

From the bank’s Charlotte office, this team will be led by Michael J. McMahan, executive vice president and director of Middle-Market Banking Group and Treasury Services. McMahan previously served for 20-plus years at Bank of America, where he managed professionals in origination, underwriting and syndication of opportunities and relationships in the large corporate banking, middle market and large ticket lease finance sectors on a national basis.

Thomas E. DeMint, III will be based out of Greenville, SC and serve as senior vice president and head of Middle-Market Banking Group in South Carolina, and as head of Syndicated Finance. DeMint’s background includes tenures with Bank of America and Wachovia Bank.

Joining McMahan in Charlotte will be Robert C. Beggs, Walter V. Bridgeman, Joseph P. Watkins, Jr. and Mark A. Schuch. Beggs will serve as senior vice president and senior relationship manager. His vast 30-year banking career includes serving as senior vice president and senior relationship manager in commercial banking for Wells Fargo Bank.