Broadhurst Joins Cornerstone Bank As Senior Lending Officer
Former Wachovia Exec Comes Out of Retirement to Help Local Bank
WILSON — Duran Broadhurst retired two years ago after 11 years with Wachovia, now Wells Fargo, as Market President for the Wilson area. He enjoyed retirement, and says he could still be doing whatever he likes.
But when his friend Norm Osborn, president of Cornerstone Bank, suggested he move back into local banking, Broadhurst jumped at the opportunity.
“This is the only job I would ever consider,” Broadhurst said of the opportunity at Cornerstone. “Norm and I have talked a lot through the years, but I never really knew we’d be working together. He called a few weeks ago and told me it was time.
“I was fine with retirement,” Broadhurst said. “I could play golf all I wanted, enjoy time on my porch, and just really enjoy this stage of life. But I think I can fit in well at Cornerstone, and I enjoy banking and I enjoy Wilson.
Like many small community banks, Cornerstone was hurt badly in the recession, with foreclosures, businesses closed, and troublesome loans. But slowly and effectively, the Bank has eliminated problem loans, rebuilt capital, and is now moving back toward profitability and strength.
“Bringing in Duran sends another very positive and powerful message to the community,” Osborn said. “This is a person who has banked in this area throughout his career, and he has been a good leader for our community. With Jim McGee retiring from Cornerstone as senior lending officer, I called Duran and asked him to help. He never hesitated.”
In addition to Wachovia (1999-2010), Broadhurst has been with United Federal (1996-1999) and BB&T (1978-1996). He has served as a member of senior management, with a strong emphasis on the lending side.
He also has been president of the United Way of Wilson County, a board member and then chairman of the Wilson Chamber of Commerce, and a long-term member of the Wilson Kiwanis Club. He has served as a board member for the Arts Council of Wilson, the Wilson Country Club, the American Red Cross, and the Hattie Daniels Day Care. He was also a board member for Wells Fargo Bank.
Broadhurst earned a B.S. degree in Industrial Relations from UNC, and he is a graduate of the School of Retail Bank Management at the University of Virginia.
He said he has followed Cornerstone’s progress through difficult times. “This bank is 180 degrees turned from where it was even a year ago,” Broadhurst said. “This bank is doing fine and the work ahead is very doable.”
The transition from “mega bank” to “local bank” presents Broadhurst with pleasant experiences. “A community bank works with small businesses,” Broadhurst said. “At Wachovia, I probably worked with a fewer number of customers but with larger loans. I had a support staff in remote locations. Here, it’s more of a do-it-yourself approach. I’ll get to work more closely with customers, build more one-on-one relationships, and — best of all — I don’t have to call Minneapolis or San Francisco for approvals. Either I or Norm or both will make the decisions right here in Wilson. So much of the small bank atmosphere appeals to me. I like this bank and I feel right at home. In fact, about two-thirds of the staff has worked with me in some form or fashion before Cornerstone opened.”
Broadhurst started at Cornerstone this week, learning systems, procedures, and customer preferences. “This is where I need to be,” he added. “I enjoyed what I was doing while retired, but this is enjoyable and meaningful. I think I can help the bank and I think the bank can help the community.”
Cornerstone, which opened in March 2000, serves customers in the Wilson market area, with offices on Nash Street North and at the Wilson Mall. For more information, call 252-243-5588.