With the appointment, Spiehs rejoins the bank after a prior brief stint in 2013 to 2014. The bank has recently been recapitalized.
CoastalStates Bank CEO Stephen Stone said Spiehs was chosen considering the bank’s efforts to restructure its mortgage subsidiary in 2017.
"I am excited that Ric is joining our leadership team," Stone said. "As we worked to restructure CoastalStates Mortgage in 2017, we knew we needed a leader with a depth of knowledge in the mortgage industry and the demeanor to provide steady leadership as we enter the New Year. More importantly, Ric not only understands our strategy for achieving growth and profitability in 2018, he shares our values: just like CoastalStates Bank, Ric is local. And proud of it."
"I'm humbled to have the opportunity to be work with this team of mortgage bankers and contribute to the CoastalStates Bank success story," Spiehs said. "Having worked with these bankers and crossed paths with them in the community, I can honestly say it is much more exciting to be working with them instead of competing against them."
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CoastalStates Bank has appointed Ric Spiehs president and CEO of CoastalStates Mortgage, a wholly owned unit.