Encore Bank Exits Triad Market

Encore Bank is exiting Winston-Salem after three years, selling its downtown branch to American Bancorp — a move that signals a full retreat from the Triad market. American Bancorp, with $3.1 billion in assets, will retain all current staff, rebrand the location, and add $30 million in deposits to its downtown portfolio. Leadership calls it a strategic play for growth amid economic shifts. Separately, Meridian Mortgage has ended its partnership with Encore and sold its $10 billion servicing portfolio to Wachovia, pledging to stay relationship-driven and support its new partners in reaching broader audiences. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/e84a355541643029