Sound Bank got its start in the spring of 2000 when
several Morehead City bankers began to talk
about starting a community bank. They felt that a bank that was
locally owned and operated could provide better personal service,
especially with decisions being made locally by people who live and
work in and are committed to the community. They also felt that
money deposited in the bank should be lent locally to help the
community grow and prosper. It would also be important for employees
to be dedicated to giving back to the community through local
involvement. The name "Sound Bank" was chosen to reflect the flavor
of the coastal area as well as the solid foundation of the bank.
A plan was made to raise the necessary $6.6 million in capital. Soon, approximately 1,000 shareholders – 90% of whom were local – had purchased stock in the new bank.
Sixteen business leaders who were especially committed to making the idea of Sound Bank a reality became charter board members: William A Blackmon, Ann P. Bryan, Christopher
J. Chadwick, S. Phillip Collins, Lowell A. Fredeen, Malcolm C.
Garland, John M. Harris, Leslie N. Ipock, DDS, Rodney Knowles, III, Jeffrey K. Moore, MD, Randall C. Ramsey,
Gregory P. Powell, Robert J. Touhey, Sr., Danny L. Varner and K. Dean Wagaman.
With the capital raised, the bank charter and formal paperwork approved by the NC State Banking Commission and the FDIC, the founders hired a staff, marketed their name, and recruited customers.
For the first year and a half, the staff of twelve worked out
of a temporary office at 5039 Executive Drive in Morehead City
while the new office was under construction on the same
property. In February of 2003, Sound Bank moved into its present
In spring of 2005, a full service branch opened in Cape Carteret. A loan production office opened in New Bern
in July, 2006, a full service branch
was built in Beaufort in July 2007 and a loan production office
was added in Jacksonville in 2012.
A new full service branch opened in Cedar Point in June, 2013
to replace the outgrown Cape Carteret office.
Sound Bank has grown from an upstart bank with twelve employees to a thriving community bank with over $130 million in assets,
five locations and thirty-eight employees.
With a commitment to quality personal service and a dedication to the community, Sound Bank continues to grow and offer “Sound Thinking…Solid Results”.