A community bank in High Point is expanding under a new leader with local ties. For generations, Matt McInnis's family has played a major role in the development of High Point Bank. The Columbia Business School graduate recently returned from New York to the Triad to help plot its future.  This comes at a time when community banks are facing new and mounting pressures, and mergers and acquisitions are picking up.

Owen Covington, a reporter with the Triad Business Journal, writes about McInnis's strategy to grow the bank beyond his hometown.

“Part of the reason they feel they need to grow is to handle some of the regulatory burden that they say they're under these days and that has increased in recent years,” says Covington.

“They're planning to do that by diving into these markets. High Point Bank has a location in Greensboro where it's planning to establish a flagship office this year. It's scouting locations in Winston-Salem, so they are really laying the ground work for a broader expansion.”

30 year-old McInnis was recently appointed the bank's chief strategic officer. High Point Bank is one of the largest community banks in the Triad.

The Business Report on 88.5 WFDD is a partnership with the Triad Business Journal. You'll find Owen Covington's story and more breaking business news at Triad.Bizjournals.com.

Justin Catanoso is director of the Journalism program at Wake Forest University and a regular contributor to 88.5 WFDD.

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