For years Carter Bank in Virginia had resisted technology of all kinds — even ATMs. But a leadership change, rising rates and a thirst for low-cost deposits finally led to a change in philosophy.
Bankers are eager to expand there through M&A, de novos or other means, encouraged by strong employment and disruption created by recent consolidation.
John Asbury says his Virginia bank, soon to be renamed Atlantic United Bank, could eventually stretch from Charlotte, N.C., to Baltimore and take on the big players that dominate those markets.
