CoastalStates Mortgage, the mortgage lending arm of South Carolina-based CoastalStates Bank, announced this week that it named Ric Spiehs as the company’s president and CEO.
According to CoastalStates, Spiehs spent a “brief stint” with the parent company bank from 2013 to 2014.
“Spiehs returns to the recently re-capitalized bank to lead the mortgage company as it supports the bank’s strategy to achieve growth and profitability,” the company said in a release.
CoastalStates Mortgage, which is formerly known as Homeowner’s Mortgage Enterprises, offers a full array of mortgage products, including reverse mortgages.
Stephen Stone, the CEO of CoastalStates Bank, said that adding Spiehs is the next step in rebuilding the company’s mortgage business.
“I am excited that Ric is joining our leadership team,” Stone said.
“As we worked to restructure CoastalStates Mortgage in 2017, we knew we needed a leader with a depth of knowledge in the mortgage industry and the demeanor to provide steady leadership as we enter the New Year,” Stone added. “More importantly, Ric not only understands our strategy for achieving growth and profitability in 2018, he shares our values: just like CoastalStates Bank, Ric is Local. And Proud of It.”
Spiehs said that he is “humbled” to join CoastalStates Mortgage.
“Having worked with these bankers and crossed paths with them in the community, I can honestly say it is much more exciting to be working with them instead of competing against them,” Spiehs added.