TowneBank Hires SunTrust Correspondent Exec to Expand Mortgages

TowneBank this week hired a former SunTrust Banks executive to help the Suffolk, Va., depository expand its residential mortgage operation.

TowneBank brought on board J.G. Carter as president of its TowneBank Mortgage division, the $4.3 billion-asset company said late Wednesday. Carter succeeds Jacqueline Amato, who was named the unit's chairman and chief executive.

The mortgage unit was created in 2000 and has expanded from the coast to cities such as Richmond and Roanoke in Virginia and Raleigh, N.C. It originates more than $1 billion in loans annually.

The company said in a press statement that Carter, who had been an executive vice president of correspondent lending at SunTrust Mortgage, will work with Amato to expand the unit's reach “throughout” the Eastern Seaboard.

"As we evaluated the rapid growth and expansion of our mortgage operation, we recognized the need for additional leadership to ensure our continued commitment to quality," said G. Robert Aston Jr., TowneBank's chairman and CEO.