FINANCE & INSURANCE.

JAMES SILLS

president, CEO | M&F Bancorp

Durham

Since conning to North Carolina in 2014, the Morehouse College graduate has turned around the second-oldest minority-owned U.S. bank, which has offices in Durham, Raleigh, Charlotte,

Greensboro and Winston-Salem. It's among about 20 remaining Black-owned banks in the U.S.

His father was a politician in Delaware and he tried his hand at state government there, serving as chief information officer for the state. But he believed he could have a greater influence in banking.

M&F struggled financially early in his tenure, reporting cumulative losses totaling about $2 million in 2016 and 2017.

But its fortunes have turned in the past few years, aided by the U.S. Treasury's Emergency Capital Investment program, which enabled M&F to exchange 80,000 shares of preferred stock in return for $80 million in capital. That enabled a pledge to lend at least $30 million annually to minority borrowers affected by the pandemic, over the next 10 years.

In 2022, M&F Bancorp reported a $4.3 million profit, following net income of $2.7 million in 2021. "We ended the year with more capital than In any other time in the history of the company, with the recent $80 million investment," Sills said in March.

Assets totaled $451 million at the end of 2022, versus $365 million a year earlier.

Favorite family tradition: My wife has two sisters, and they like to rotate hosting Christmas with all the families and relatives coming together. We have a great time and we look forward to traveling to the different cities each year. It's a blast in terms of food, fun, games and family.

Favorite N.C. place to visit: Asheville in the fall.

What do you listen to on your commute: Satellite radio. My favorite stations are CNBC, CNN and ESPN.

Major inspiration: My family. I am so proud and thankful for all the many blessings that have been bestowed upon my family over the years. It motivates me to give back and do more for the community.

Career highlight: This past year, I served as the chairman of the N.C. Bankers Association. It was a great experience to work with the association leadership team, board of directors and bankers from around the state to help move our industry forward in the areas of DEI, leadership development and improving access to capital for small businesses.

Favorite hobby after work: Tennis. I have played for more than 50 years.

Best advice to industry newcomer: The banking industry is changing very rapidly. Embrace technology in all forms: Al, mobile, digitization, and application development

Key industry change in next five years: Community banks like M&F Bank have a tremendous opportunity to pursue innovation in the delivery of financial services through relationships with f intechs that will level the playing field with the larger banks. These advances in technology present a vast array of self-service only options and Al interactions that will make banking simpler and more efficient.

ANITA HUGHES BACHMANN

CEO | UnitedHealthcare Community Plan of North Carolina

Greensboro

Bachmann joined the largest U.S. health insurer in 2005 after working at Greenville, South Carolina, hospitals. She has held her current post since 2017. The Medical University of South Carolina graduate is a trustee at UNC Greensboro, a member of NC Works Commission, and past chair of the Greensboro Chamber.

JIM BOSTIAN

president, MidSouth | Aetna

Cary

The Salisbury native and UNC Chapel Hill graduate turned heads by persuading the 740,000-member N.C. State Health Plan to switch its contract to the Connecticut-based insurer, starting in 2025. He has worked in N.C. health care for more than 30 years, including stints at Aetna and Duke University Health.

Favorite N.C. place to visit: My wife and I are UNC grads, so Chapel Hill is our favorite go-to for dinner and a walk through campus or family gatherings for UNC games.

What do you listen to on your commute: I count on a dose of classic rock on my morning commute to set the stage for a successful day.

Major inspiration: My parents provided a strong foundation for my personal and career goals, and thanks to my wife and kids, I've been blessed with the love, support and purpose to achieve them.

Career highlight: I'm still working toward that, but the day I started this job as market president with this incredible team was certainly a career milestone for me.

Favorite hobby after work: Manning the backyard grill, and anything that can coax my kids away from their video games!

Best advice to industry newcomer: Health care is an exciting and rewarding industry, but prepare to be humbled by its depth and complexity.

Key industry change in next five years: Continued acceleration of virtual solutions and digital tools amid growing expectations of a more convenient, simplified and affordable health care experience.

JEFFREY 'JB' BROWN

CEO | Ally Financial

Charlotte

Brown became CEO of the digital financial services company in 2015 and has led significant growth, though net income dipped nearly 50% lastyearto $1.6 billion as interest rates rose. Previously the treasurer of Bank of America, Brown is a Clemson University graduate with an MBA at Queens University, where he is board chair.

Favorite family tradition: Taking first day of school photos year after year to see the growth of our three children.

Favorite N.C. place to visit: We love Charlotte and our sports teams, including Charlotte FC, NASCAR, the Panthers, the Hornets, and more. Shout out to the great parks, arts, Queens University, and amazing health care.

What do you listen to on your commute: Generally country, although I love all music.

Major inspiration: Rick Hendrick and Hugh McColl. Through hard work, they accomplished success and shared that success with their communities.

Career highlight: Ally's CEO. It is a huge honor to lead such a great group. I'm proud we award employees with stock to ensure we all act as owners.

Favorite hobby after work: Cooking anything from Italian delights to smoking ribs/wings/BBQ, to making pizzas. It usually involves a great glass of wine. This is what I do to relax.

Best advice to industry newcomer: Be a lifelong learner. Also appreciate that you can learn from anyone.

Key industry change in next five years: Digital migration will help all consumers establish banking relationships.

RICHARD BRYANT

CEO | Capital Investment Cos.

Raleigh

Bryant heads a team of more than 180 financial planners, advisers and others. The Gastonia native says Capital Investment can offer wealth management and services similar to large Wall Street-based companies with a hometown touch. The N.C. State University grad founded the firm in 1984.

Favorite family tradition: New Year's Day "good luck" meal with collards, black-eyed peas and pork.

Favorite N.C. place to visit: Morehead City/ Atlantic Beach

What do you listen to on your commute: Pre-1990s music.

Major inspiration: My dad was not only an exceptional businessman, he was also very kind and generous.

Career highlight: Staying in business for 40 years.

Best advice to industry newcomer:

Nothing beats hard work and determination. Show up, stick to it and give it at least three years.

Key industry change in next five years:

Companies' ability to manage cyber risk and adopt technology changes and artificial intelligence.

RICK CALLICUTT

chair, Carolinas & Virginia | Pinnacle Financial Partners

High Point

Callicutt joined Nashville-based Pinnacle in 2017 after it bought BNC Bancorp, where he started in 1991 and became CEO in 2013. He began his career working for Wachovia and First Union banks. He's a High Point University alum and trustee and former board chair of the N.C. Bankers Association.

KIETH COCKRELL

president | Bank of America

Charlotte

After 10 years at IBM, Cockrell joined BofA 30 years ago. The Long island. New York, native became Charlotte market leader in 2021. His civic roles include chairing the Charlotte Regional Business Alliance. His son, Ross, plays in the NFL, while daughter Anna ran track in the 2020 Tokyo Olympics.

HUGH 'BEAU' CUMMINS

vice chair | Truist

Charlotte

The Michigan MBA worked at Bank of America before joining Truist predecessor SunTrust in 2005 as head of debt capital markets. He became head of the bank's corporate and institutional group in 2019 and took his current post two years later. He oversees much of the bank's non-retail operations.

MATT DAVIS

president, regional banking director | TowneBank

Raleigh

Davis spent 15years at Paragon Bank before TowneBank's acquisition in 2018. After working as chief strategy and risk officer at the Virginia headquarters, he returned to lead the N.C. bank in December. A certified executive coach, he has bachelor's and master's degrees from N.C. State University.

RON DAY

founding director, president, CEO | First Carolina Bank

Raleigh

First Carolina Bank has expanded into Columbia, South Carolina, and Atlanta in the past two years. A Rocky Mount operations center is under construction. A1987 UNC Chapel Hill graduate, Day previously worked at Bank of Hampton Roads in Virginia and RBC Bank in Raleigh and Atlanta.

Favorite family tradition: Christmas/holiday meal at the Angus Barn

Favorite N.C. place to visit: Wrightsville Beach

What do you listen to on your commute: PGA Tour on Sirius XM Radio

Career highlight: Starting First Carolina Bank in 2012.

Best advice to industry newcomer: To get to the job that you want, excel/be the best at the job you currently have.

Key industry change in next five years: The further digitalization of the banking business.

JIM DUNN

chief investment officer, CEO | Verger Capital Management

Winston-Salem

The Villanova University graduate created the investment firm in 2014 after previously working as chief investment officer at Wake Forest University's endowment fund. The business, which focuses on nonprofit organizations, manages $2.3 billion in assets.

Favorite N.C. place to visit: Being born in a city and then living in L.A. before moving...