Encore Bank names Jett CEO, Hicks President
by August 4, 2024 6:43 pm 620 views
Encore Bancshares, Inc. and its wholly-owned bank subsidiary, Encore Bank, announced Phillip Jett as CEO. It also confirmed the role of Burt Hicks as Encore’s president and chief strategy & growth officer, who will continue leading the executive team with Jett.
Jett had been serving as acting CEO since April 29, 2024, after the resignation of Chris Roberts.
Jett and Hicks helped co-found Little Rock-based Encore Bank in 2019, transforming Capital Bank from a small institution with one location in Little Rock, into Encore Bank, a $4 billion institution with offices in 19 markets across seven states, including three that opened during the first quarter of 2024.
As of June 30, 2024, Encore Bank had $3.97 billion in total assets, $2.96 billion in deposits and $3.28 billion in loans. Rebounding from the banking industry challenges of 2023, Encore Bank has reported monthly profits since March and is profitable for the year.
“Encore Bank’s strength and resilience, exhibited in its second quarter results, is representative of its strong leadership under Phillip and Burt and that of our team members,” said Rita Lowman, lead independent director of the Encore Bank Board of Directors. “Phillip has proven himself to be a steady leader, ensuring the stability and health of Encore Bank. We are confident in his ability to continue leading Encore Bank as CEO.”
With more than 32 years of banking experience, Jett has been Encore Bank’s acting CEO since April 29, 2024. Previously he was Encore’s vice chairman and chief banking officer, overseeing operations across the bank’s 19 markets.
Prior to founding Encore Bank, Jett worked at Worthen Bank (now Bank of America) in Central Arkansas, and then as a mortgage loan banker at US Mortgage Company. Subsequently, he held various positions at Regions Financial from 1997 to 2009, culminating in his role as an executive vice president. He then joined IBERIABANK in August 2009, where he was president of the Central Arkansas market.
“With Phillip and Burt at the helm of our leadership team, Encore Bank is successfully navigating through a challenging period within the industry,” said Michael Mosely, lead independent director of the Encore Bancshares Board of Directors. “Their exceptional leadership has been instrumental in our growth and success since the beginning of our journey, and we are confident that their vision and expertise will guide us to even greater achievements in the years ahead.”
As president of Encore, Hicks has been responsible for directing the bank’s strategy and overseeing its corporate departments and business lines. Hicks started his career working on Wall Street as an investment banker for Merrill Lynch and Bank of America. He later held various roles at Simmons Bank including chief of staff, director of mergers and acquisitions, investor relations officer, corporate secretary, CFO and COO of specialty lending and wealth management, president and CEO of Simmons First Investment Group and Insurance Services, and director of mortgage banking. He holds a degree in business administration, a master’s degree in public service and a law degree.