Mr Sponenberg has begun his career in banking in 1978 as a loan officer for Central Carolina Bank of Durham. After two years, he was named assistant treasurer and continued to advance within the bank and became president of CCB Savings Bank of Lenoir. After CCB Savings Bank of Lenoir, merged with Central Carolina Bank then several years later with SunTrust, Mr Sponenberg was named senior vice president and market president.

Carol Shinn, executive vice president and chief credit officer of Parkway Bank, said: I believe that with the addition of Jim to our executive management team. We have the expertise necessary to lead the company to even greater long-term success by continuing with our mission ‘to build solid banking relationships, provide excellent customer service, provide a rewarding work environment for our employees, and to achieve above average returns for our shareholders. All this is done for the betterment of our community.