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Coastal Bank, parent get new president, CEO

POSTED: May 3, 2007 5:02 a.m.
J. Thomas Wiley has been selected as president and chief executive officer of Coastal Bankshares, Inc. and The Coastal Bank.
“We are extremely excited to have a proven banker of the caliber of Tom Wiley to serve as our CEO,” Billy N. Jones, board chairman, said. “Tom’s knowledge of and relationship with the Savannah market and his consistent winning performance as a bank CEO wherever he has been make him the ideal CEO to assume the reigns of our company at this time.”
Wiley served as executive vice president and city president of Bank Corporation of Georgia’s First South Bank subsidiary. In 1990, he was named president and chief executive officer of Bank Corp. of Georgia’s Ameribank subsidiary in Savannah. Upon the merger of Century South Banks, Inc. with Branch Banking & Trust in 2002, Wiley joined Flag Financial Corp. in Atlanta as vice chairman and served as CEO of its subsidiary bank, Flag Bank, until its merger with RBC Centura.
He is currently past chairman and a director for the Georgia Bankers Association and serves as a board member for the Georgia Department of Economic Development.
Wiley said, “Becoming CEO of Coastal is clearly a homecoming for me. My wife, Susan, and I have already purchased a home here, and meeting with the board is in many ways like a reunion, since I have known and respected many of them for a number of years. I look forward to continuing to build the bank and to build value for its shareholders.”
Coastal Bankshares is a one-bank holding company based in Savannah. On Dec. 31, 2006, it had assets of $447 million, deposits of $370 million, and for the year then ended, had a net income of $3.5 million.
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