Atlanta Welcomes New Leadership at Regions Bank
Atlanta is buzzing with excitement as the local banking scene undergoes a significant transition. Mary Beth Coke, a seasoned banker with two decades of experience, is stepping up to take over as the Atlanta market executive for Regions Bank at the end of this year. She will succeed the well-respected Bill Linginfelter, who has been a familiar face in the city, often recognized for his playful office escapades riding a green bicycle as part of a popular public television spot.
From One Leader to Another
Linginfelter, who has been steering the ship for Regions in Atlanta for years, is set to retire at the year’s end. His legacy includes notable contributions to various local organizations like the Georgia Chamber and the Metro Atlanta Chamber, among many others. He’s been a vibrant part of the community, and his departure marks the end of an era. Coke’s appointment is not just about a name change; it’s part of a well-thought-out succession plan that’s crucial for the bank’s future, especially amidst the challenges facing the commercial banking sector.
“I am thrilled that we found someone who has got the energy and capability to take us way into the future,” Linginfelter shared during a recent interview. And he has plenty of reason to feel optimistic. Coke is bringing fresh visions and a wealth of experience from her tenure at Truist Financial and SunTrust Banks, which prepared her for this pivotal role.
Charting a New Course
In her new position, Coke will also serve as the commercial banking regional executive, overseeing operations not just in Atlanta but throughout Georgia and the Carolinas. Her strategic approach focuses on enhancing Regions’ services for smaller businesses, particularly in treasury and credit offerings that can fuel their growth. “We intend to be the premier financial institution in Atlanta,” Coke confidently stated. “We don’t believe that we have to be the biggest to do that.”
Coke plans to stitch herself into the fabric of the community just like Linginfelter did. “Atlanta is key to where we want to go as a company,” she emphasized, acknowledging her commitment to local organizations and previously leading the Georgia Council on Economic Education.
Navigating Challenges in Banking
However, the banking landscape is currently fraught with challenges, particularly within the office sector as hybrid and remote work trends continue to shape the market. Office properties have seen valuations dip as companies reassess their space needs. Nonetheless, Regions Bank has positioned itself well to handle these changes. By maintaining a disciplined approach to real estate exposure, the bank has managed to keep its office property portfolio down significantly since 2021.
Coke has highlighted that while some lenders feel the pressure, Regions is well-equipped to offer solid opportunities, especially given that only 1.6% of its total loans are tied to commercial real estate, and the bulk of their office holdings are in class A properties. “Regions has been really disciplined around its exposure to real estate in general,” she noted.
The Road Ahead
As both Linginfelter and Coke look to the future, they expressed cautious optimism about the economy. While job market signals appear mixed, they don’t foresee a recession just yet. Instead, they believe that potential Federal Reserve rate cuts could provide the boost the economy needs to stabilize.
For Linginfelter, retirement is not the end; it’s merely a shift. After starting his career in 1978, he plans to maintain a connection with the community and seek new opportunities, even if he steps away from a full-time role in banking.
As Atlanta gears up to welcome Mary Beth Coke’s leadership, the fresh energy she brings promises not just continuity but excitement for what lies ahead at Regions Bank. With a commitment to making a positive impact at the community level, everyone is eager to see how she navigates the local banking landscape while honoring the legacy left by her predecessor.
