LITTLE ROCK, AR. (June 6, 2022) – The award-winning Bailey South building in Winston-Salem will soon be the home of Encore Bank’s Piedmont Triad branch. Encore Bank announced today that it has signed a lease agreement to secure a permanent location inside the unique building at 450 North Patterson Avenue, which combines six stories of new construction with the repurposing of an existing building with a rich history.
Bailey South, designed by the Stitch Design Shop of Winston-Salem, is situated between two smokestacks, which were built in 1926 and 1946 and helped power Winston-Salem for nearly a century. The brick-andglass building, featuring remnants of the original power plant, was recognized as Best Overall Design for all new construction projects in 2021 by Business NC Magazine, the Redevelopment Project of the Year by the Triad Business Journal in 2021, and the Best Redevelopment in the State by NAIOP, the Commercial Real Estate Development Association, in 2021.
Encore Bank will take a prominent position in the redevelopment with a 4,547 square-foot space on the
second floor overlooking Bailey Park. Piedmont Triad Market President Leigha Smith expects to open the
full-service branch by the end of the year.
“This location is a rich part of history in Winston-Salem and throughout the Piedmont,” said Smith. “It has been redeveloped where innovation, research, education and culture connect. It is a space where the entrepreneurial spirit is felt and the community will continue to grow. Encore and I are excited to be a part of that growth not only in the Innovation Quarter but throughout the Piedmont-Triad area.”
Coleman Team, a partner of the Bailey South Developer, Front Street Capital, says he is thrilled Encore Bank has selected Bailey South for its Piedmont location. “We are very excited to welcome Encore Bank,” said Team. “Front Street Capital developed Bailey South with the goal of providing tenants an environment that enhances culture, inspires employees and creates the ability to attract top talent to come work in Winston-Salem’s Innovation Quarter.”
Established in 2019, Encore Bank is the fastest organically growing bank in the country among banks with total assets greater than $750 million, according to data collected from S&P Global Market Intelligence. The bank is currently operating in 19 markets across nine states. Four of those markets are in the Carolinas: Charlotte, Charleston, Greenville and the Piedmont Triad (Winston-Salem).
In November of 2021, Encore Bank announced it would be expanding its footprint into the Piedmont Triad with Smith leading the expansion. Smith has more than 32 years of experience in banking. Before joining Encore Bank, she held the position of regional bank president for Wells Fargo. Smith is currently working remotely as she builds a team of dedicated and talented banking professionals and works on the construction plan and interior design for the permanent, full-service branch. “I am looking forward to bringing Encore Bank’s unprecedented level of service to the Piedmont Triad where I have spent the better part of my career,” said Smith. “Encore is building a different kind of bank and setting a standard for concierge banking and innovation for its clients. I know the vision and culture of Encore is an ideal match for the market’s business clientele.”