WINSTON-SALEM — Community Bank of the Carolinas, a new bank expected to open in early 2019, has named Ricky J. Allred as chief credit officer, a 37-year banking veteran who joins the proposed bank as a key member of its executive team in one of its most important roles. Allred’s announcement comes as the de novo bank is raising capital through an offering of common stock to the public.

Allred comes to Community Bank of the Carolinas from Wells Fargo Bank in Winston-Salem where he was a private and business loan underwriter, analyzing complex financial and credit information for large commercial businesses and high net worth individuals.

An honors business graduate of Wake Forest University, Allred solidified his career in credit administration during his 14 years at CommunityOne Bank in Asheboro, where he rose through the ranks to become senior vice president and consumer risk executive in 2013. He was responsible for risk management of the consumer, mortgage and indirect auto finance portfolios.

“The success of any bank lies in its ability to manage risk,” said chairman and CEO Skip Brown. “Obviously, we have one of the most experienced credit minds in the industry. Ricky has worked with small and big banks so he has great perspective on the credit side. His insight and knowledge will make us a stronger bank.”

A former regional credit officer with Southern National Bank in Charlotte in the 1980s, Allred spent time as a bank examiner in the early 1990s before moving on to Central Carolina Bank and Trust Company in Monroe where he was vice president of central lending.

Allred holds a master’s of business administration degree from Winthrop University at Rock Hill, S.C. He was formerly an instructor at the Risk Management Association Commercial Lending School at East Carolina University in Greenville, N.C.

Following regulatory approval, Community Bank of the Carolinas will open on Jonestown Road. CBC is currently raising capital through an initial public offering of its common stock at a price of $11 per share. Proceeds will go to capitalize the bank and ongoing operations. For more information about the public offering, go to www.mycommunitybankcbc.com