SOURCE: Coastal Banking Company Inc.
On Tuesday, December 8, 2015 at 12:00 PM ET
Coastal Banking Company Promotes Brynn Stensrud, Residential Mortgage Banking Division Head, to Executive Vice President
BEAUFORT, SC / ACCESSWIRE / December 8, 2015 / Coastal Banking Company Inc. (OTCQX: CBCO), the holding company of CBC National Bank, which operates branches in Beaufort and Port Royal, S.C., and Fernandina Beach, Fla., today announced that Brynn Stensrud has been promoted to executive vice president.
Stensrud was named head of the company's Atlanta-based residential mortgage banking division in June, replacing Charles Wagner, who was named president of CBC National Bank. Before assuming overall leadership of the division, Stensrud headed operations and credit risk for the mortgage division since late 2008 and had been assuming more responsibility over the past two years.
"Brynn Stensrud taking over as head of our residential mortgage division ensured a seamless transition in our recent succession planning moves. He has thrived in his new position, demonstrating the depth of talent we have in the company," said Charles Wagner, president of CBC National Bank.
"Brynn has been instrumental in the executive management and strong growth of our mortgage division for many years," Wagner continued, "helping build it into a business unit doing more than $2 billion in annual volume. And his leadership will ensure that our bedrock service culture remains in place as our business evolves in 2016 from the recent low interest rate environment to a more normal operating environment."
About Coastal Banking Company, Inc.
Coastal Banking Company Inc., headquartered in Beaufort, S.C., is the $438.7 million-asset bank holding company of CBC National Bank, headquartered in Fernandina Beach, Fla., which provides a full range of consumer and business banking services through full-service banking offices in Beaufort, Fernandina Beach, and Port Royal, S.C. The company's residential mortgage banking division, headquartered in Atlanta, includes traditional retail and wholesale lending, as well as a National Retail Group that has lending offices in Arizona, Florida, Georgia, Maryland, Michigan, Indiana, Illinois and Ohio. The company's government guaranteed lending division originates SBA loans primarily in Jacksonville, Ft. Myers, Tampa and Vero Beach, Fla., Greensboro, N.C., Atlanta and Beaufort. The company's common stock is publicly traded on the OTCQX Markets under the symbol CBCO. For more information, please visit the company's website, www.coastalbanking.com.
For More Information:
Charles Wagner President CBC National Bank (678) 942-2161
