GREENVILLE, S.C., Aug. 24 /PRNewswire-FirstCall/ -- The South Financial Group, Inc. announced that it has named Robert H. Dewey as Executive Vice President - Corporate Banking for Mercantile Bank, its Florida banking subsidiary. Dewey will direct the growth of deposits, loans, and commercial services fee income for the newly-established Florida corporate banking strategy, focusing on larger middle-market corporate customers.
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"We are very pleased to have Rob join our leadership team. Rob brings over 30 years of proven corporate banking experience as well as strong knowledge of our markets," said Mack I. Whittle, Jr., President and Chief Executive Officer of The South Financial Group. "Rob has worked with many of us during his 34- year banking career that includes top corporate banking positions at SouthTrust Bank and Barnett Bank. Rob's experience will be invaluable as we expand our core strength in small to mid-size commercial banking to the larger middle-market segment."
Dewey brings to his new role at The South Financial Group extensive corporate banking experience, including large corporate, middle-market, specialty lending, cash management, and international. Most recently, as President of SouthTrust's Corporate Banking Division, Dewey directed a ten- state operation, which included approximately 100 relationship managers, a $15 billion loan portfolio, and leading cash management services. Under his management, SouthTrust more than tripled its presence in the state of Florida and developed new successful operations in Texas and Virginia.
Dewey began his banking career with South Carolina National Bank in 1972. After holding various commercial and international banking roles, he joined Barnett Bank where he served as Director of Corporate Banking from 1990 to 1997. After Barnett Bank's acquisition by Bank of America, Dewey joined SouthTrust Bank and served in various capacities including EVP-Corporate Banking Division, Director-Enterprise Banks, and President-Corporate Banking Division. Following the November 2004 acquisition of SouthTrust by Wachovia, Dewey served as the merger transition leader for the Corporate Banking Division
Dewey earned a bachelor's degree from The Citadel in Charleston and an M.A. in Finance from Webster College.
The South Financial Group is the largest publicly-traded bank holding company headquartered in South Carolina and ranks among the top 50 U.S. commercial bank holding companies in total assets. At June 30, 2006, it had approximately $14.1 billion in total assets and 169 branch offices in Florida, North Carolina, and South Carolina. TSFG focuses on fast-growing banking markets in the Southeast and concentrates its growth in metropolitan statistical areas. TSFG operates through two subsidiary banks: Carolina First Bank, operating in North Carolina, South Carolina, and on the Internet under the brand name, Bank CaroLine; and Mercantile Bank, operating in Florida. At June 30, 2006, approximately 48% of TSFG's total customer deposits were in South Carolina, 39% were in Florida, and 13% were in North Carolina. The South Financial Group's common stock trades on The NASDAQ Global Select Market under the symbol TSFG. Press releases along with additional information may also be found at The South Financial Group's website: http://www.thesouthgroup.com/.
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