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Merrick named Wells Fargo business banking manager

Keith Merrick.jpg

Keith Merrick

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From Contributed Reports

Monday, March 19, 2018

Wells Fargo has named Keith Merrick market president and senior business banking manager for the Rocky Mount and Wilson markets, which include Wilson, Nash and Edgecombe counties.

He will be working out of Wells Fargo’s offices in Wilson and Rocky Mount and can be reached at 252-972-4244 or Keith.Merrick@wellsfargo.com.

In his new role, Merrick will be an expert resource for established and developing businesses in the Rocky Mount and Wilson markets.

“As the economy continues to improve, we are pleased to have Keith leading our seasoned team of bankers in Wilson, Nash and Edgecombe counties to support the business community’s growth,” said Jim Foster, business banking manager for the Wells Fargo team in northeast North Carolina.

Eastern North Carolina’s optimistic business outlook is reflected in the latest Wells Fargo/Gallup Small Business Index survey, conducted Jan. 3-9. The index rose to 107, up from 103 in November and the highest since early 2007. More business owners reported improvements in their day-to-day operations, including gains in revenue and a more positive outlook for revenue, capital spending and hiring.

The January index was fueled by a jump in the “future expectations” score, which measures how business owners expect their businesses to perform over the next 12 months. In January, the forward-looking score improved five points to 65, its highest since December 2006. Other key factors in the index’s survey of business owners:

■ Fifty-two percent reported revenue increased a little or a lot over the past 12 months, up from 46 percent in November 2017 and its highest since 2007.

■ Sixty-six percent said they expect revenues to increase over the next 12 months, the highest reading in the survey’s history.

■ Seventy-seven percent expect their cash flow will be very or somewhat good over the next 12 months, up from 73 percent last November and its highest reading in the survey’s history.

■ Thirty-three percent of business owners said they expect the number of jobs at their company to increase in the next year, up from 32 percent in November.

“The study’s findings are consistent with the optimism we are experiencing locally among the business community,” Foster said. “We want to make sure Wells Fargo has a strong team of experienced bankers dedicated to helping businesses succeed in Rocky Mount and Wilson.”

Merrick most recently served as the chief financial officer for S.T. Wooten Corporation and previously worked as a commercial banking manager with Wells Fargo’s predecessor First Union. He also has served as chairman of Wells Fargo’s Board of Advisors in Wilson since 2006. Merrick has more than 30 years of experience in financial services.

“I look forward to leading a great team of experienced business bankers serving Wilson, Nash and Edgecombe counties,” Merrick said. “Fortunately, that team includes Tammy Jones, who has great experience in working with our customers in this market. The Wells Fargo team shares a common goal of fully supporting our business clients, and we are pleased to offer products and services that will not only meet, but exceed their expectations.”

Merrick graduated from Texas A&M University, received a master’s degree from the University of Missouri and is a North Carolina CPA. He is active in the local community, serving on the Barton College Endowment Advisory board. Merrick is also the vice chairman of Wilson’s Economic Development Commission.

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