Simmons Bank recently named Michael Powell as mortgage division president. Powell will oversee all aspects of Simmons’ mortgage process, according to a news release.
Powell’s experience spans from mortgage banking and operations to strategic planning, quality control and management.
Preceding stints at Centennial Bank and IberiaBank, Powell started Cornerstone Mortgage in 1999, growing the business from two employees to 24 and garnering recognition from Arkansas Business as the largest independent mortgage banker in Arkansas for three consecutive years (2009, 2010, 2011), according to the release.
“Michael’s wide-ranging background as a mortgage division leader, chief operating officer and entrepreneur brings a wealth of experience to our team,” said Matt Reddin, executive vice president and president of banking enterprise at Simmons Bank.
“Michael is especially adept at leveraging technology to create an exceptional mortgage experience – we’re excited for our customers to reap the benefits of his leadership,” Reddin said.
In 1995, Powell received PHH Mortgage’s Rookie of the Year Award and achieved second place in total loan production the following year. Powell was named to Arkansas Business’ 40 Under 40 list in 2004.
A graduate of Southern Methodist University, Powell previously served as a mentor for under-privileged children through STEP Ministries of North Little Rock.