Coastal CEO Wiley Jumps to Another Ga. Bank

State Bank Financial (STBZ) in Atlanta has named one of its founding shareholders and current board member as its vice chairman and president.

J. Thomas Wiley Jr. assumes his new responsibilities on Jan. 1, the $2.6 billion-asset company said Monday. Wiley has resigned as chief executive of Coastal Bank and its parent company, Coastal Bankshares, in Savannah, Ga., to take the jobs at State Bank. He will remain at Coastal as its nonexecutive chairman.

Wiley was among the investors, along with Joe Evans, State Bank’s chairman and chief executive, who participated in the equity raise that led to its formation in 2009.

“Tom Wiley and I have worked together in one capacity or another for over 30 years, and I am thrilled to have him back in a full-time leadership position,” Evans said in a news release. “He is one of the most respected bankers in Georgia and a founding shareholder who has a significant personal financial stake in State Bank.”

From 2002 to 2006, Wiley was vice chairman of Flag Financial and president and CEO of Flag Bank, where he worked with Evans and others from State Bank.

Wiley will remain on the boards of State Bank Financial and its banking unit, State Bank and Trust.

Separately, Stephen W. Doughty was named vice chairman of corporate development. Doughty, who was previously State Bank’s executive banking officer, will be responsible for seeking out acquisition and other expansion opportunities for State Bank.

State Bank recently purchased substantially all of the assets of payroll services company Altera Payroll. State Bank has acquired a dozen failed banks since 2009.

The company also said Monday that its third-quarter earnings dropped 80%, to $3.4 million, from a year earlier, as income tied to its past failed-bank deals fell.