MOUNT AIRY, N.C., March 31, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of Surrey Bancorp (the “Company”) (OTC Pink Sheets: SRYB), the parent company of Surrey Bank & Trust (the “Bank”) have announced the promotion of Pedro (Peter) A. Pequeno II to President of the Company and the Bank and William (Bill) A. Johnson to Senior Vice President and Chief Lending Officer of the Bank as part of its management succession plan. Edward (Ted) C. Ashby III will remain CEO of the Bank and of the Company and will continue to serve as a director of both entities.
Pequeno has been with the bank since it opened in 1996. As Senior Vice President and Chief Lending Officer, Pequeno managed the bank’s loan and credit divisions. Pequeno’s new responsibilities include oversight of loan operations, deposit operations, branch operations, digital banking, compliance, and lending.
Johnson served as a member of the Board of Directors from 1996 to 2012, when he resigned as a member of the Board of Directors to lead the bank’s expansion into Elkin and Wilkes County. Most recently, Johnson served as the Bank’s Western Regional Executive. Johnson will oversee all lending activity.
Pequeno and Johnson have held leadership roles in the organization for more than 25 years. These promotions will allow them to use their experience and talents to profitability grow our company, Ashby said.
Surrey Bancorp is the bank holding company for Surrey Bank & Trust (the “Bank”), a full-service retail and commercial bank serving Northwest North Carolina and Southwest Virginia. The bank, which is headquartered in Mount Airy, North Carolina, has seven offices in Surry and Wilkes County, North Carolina and Patrick County, Virginia.
Surrey Bank & Trust can be found online at www.surreybank.com.
For additional information, please contact
Ted Ashby, CEO
(336) 783-3900
