Oster to retire in September after 40+-year banking career
WINSTON-SALEM, N.C., June 7, 2016 /PRNewswire/ — BB&T today announced Tony Coley has been named president of its South Florida Region. Coley, who currently serves as president of the Central Florida Region, will assume his new role July 1, 2016. He will replace Michael Oster, who will retire Sept. 2, 2016, after a banking career spanning 42 years.
“This September will mark Mike’s 30th anniversary with BB&T and its successor organizations,” said Ricky Brown, president of Branch Banking &Trust. “In that time, Mike has built a distinguished career with BB&T, demonstrating his leadership and establishing our strong community banking approach. We wish him the best in his next chapter of life and are thrilled he will continue to work with us as an executive coach with the BB&T Leadership Institute.
“We are very fortunate to have Tony fill this critical role,” Brown added. “His knowledge of the South Florida market and proven ability to create and lead high-performing teams will continue the momentum and success Mike has cultivated.”
Coley, 42, has nearly 20 years of banking experience with several institutions in South Florida. He joined BB&T in 2009 through its acquisition of Colonial Bank, where he was president and CEO of Colonial’s Southeast Florida Commercial Banking Division. He began at BB&T as market president of Broward County and was promoted to regional president of the Central Florida Region in 2012.
A native of Dade County, Coley is active in the Central Florida community. He holds a seat on the boards of several local organizations, including Central Florida Partnership, African-American Chamber of Commerce, Florida Hospital for Children, Business Force, and Boy Scouts of Central Florida, where he serves as vice president of finance. Coley also serves on the University of Central Florida Business School’s Dean’s Advisory Board and is a trustee of Bethune-Cookman University in Daytona Beach. In 2011, he was honored by the Miami Herald as one of the Top 20 business leaders under 40 years of age.
Coley earned his bachelor’s degree from the University of Miami and was a starting linebacker on the University of Miami football team, which won three conference championships and played for two national titles. He earned numerous accolades for academics, athletics and community service. Among his honors were selections to the College Football Association’s Academic All-American Team as well as the University of Miami’s Iron Arrow Honor Society, the University of Miami’s highest honor. Coley also earned a place on the NCAA Good Works Team, a national award recognizing outstanding community service.
“My family and I are very excited about returning home to South Florida,” Coley said. “We’ve truly enjoyed our time in Central Florida and will always cherish the relationships we developed here. However, we look forward to getting reacquainted with the South Florida community.”
Oster, 63, joined BB&T in 1999 when BB&T acquired Carroll County Bank and Trust Company where he was president and CEO. Following the acquisition, he served as regional president of the Baltimore Metro Region. In 2001, he became state president of Maryland and, in 2009, he moved to South Florida to create that region following BB&T’s acquisition of Colonial Bank.
“The time I have spent leading the South Florida Region of BB&T has been the most satisfying of my career,” Oster said. “I have had the privilege to work with tremendous clients and an outstanding banking team, and it will be those aspects that are most meaningful as I reflect on my career.”
BB&T operates 326 financial centers in Florida and divides its footprint into autonomous community bank regions – each with its own president – to keep decisions local and close to the customer.
BB&T is one of the largest financial services holding companies in the U.S. with approximately $212.4 billion in assets and market capitalization of approximately $26.0 billion as of March 31, 2016. Based in Winston-Salem, N.C., the company operates 2,263 financial centers in 15 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by the U.S. Small Business Administration, Greenwich Associates and others. BB&T has also been named one of the World’s Strongest Banks by Bloomberg Markets Magazine, one of the top three in the U.S. and in the top 15 globally. More information about BB&T and its full line of products and services is available at BBT.com.
SOURCE BB&T Corporation