Encore Bank of Little Rock has named Vice Chair and Chief Banking Officer Phillip Jett as CEO.
Jett had been acting CEO since late April, when Chris Roberts resigned as the bank’s chief executive. In a letter to Encore Bank stakeholders, Roberts said he stepped down to “allow new energy to lead” the $3.96 billion-asset lender.
“I will remain a customer, shareholder and partner, and will continue to be enthusiastic in my support of our mission,” the letter said. “I am excited to see our success continue for many years.”
Jett, Roberts and Burt Hicks, Encore president and chief strategy and growth officer, led the 2019 transformation of $161 million-asset Capital Bank from a local, single location operation into one of the fastest growing banks in the nation with a regional footprint in 19 markets in eight states.
In a LinkedIn post, the bank said Jett and Hicks “will drive us forward into an exciting future.”
“Their exceptional leadership has been crucial to our success since the founding of Encore,” the post said, “and we are confident they will guide us to even greater achievements for years to come!
Jett brings more than 30 years of experience in banking to his new role. He’s a former president of IberiaBank’s central Arkansas market and a former manager of commercial business banking and private banking in Arkansas for Regions Financial Corp.
He holds a degree in finance and banking from the University of Arkansas.
Encore Bank posted a loss of $1.6 million in the first quarter. That followed a $6 million loss during 2023 and a $2 million loss in 2022.
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