Southern Bank Makes $300,000 Commitment to UMO Track and Field/ Lacrosse Complex

Southern Bank Makes $300,000 Commitment to UMO Track and Field/ Lacrosse Complex

MOUNT OLIVE – The University of Mount Olive recently announced that the Southern Bank Foundation has made a major commitment of $300,000 for the proposed Track and Field/Lacrosse Complex.

“The Southern Bank Foundation has been a tremendous friend to the University and to the Athletics Department,” said University of Mount Olive President Dr. Philip P. Kerstetter.  “The leadership team of the Southern Bank Foundation clearly recognizes the economic impact that the University – students, athletic programs, potential jobs – makes on the region. The Foundation leadership also realizes the impact that top-notch athletic facilities has on the recruitment of student athletes and coaches.”

Kerstetter noted the successful history of the baseball and basketball programs at the University as an example of the type of potential impact a new Track and Lacrosse Complex will have at the University.

“Not only will the University be able to recruit nationally-recognized student athletes, but the opportunity to host prominent competitions that will directly benefit the Wayne County community in economic terms is also a great possibility,” he said.  “Furthermore, this facility will be available to the community to expand wellness opportunities for the entire region. With this gift, the Southern Bank Foundation is not only assuring the future of the track and lacrosse programs at UMO, it is also investing in the good for the entire community.”

The cost for phase one construction of the Track and Lacrosse Complex is estimated at $1.5 million and will include an eight-lane, synthetic surface, 400 meter track built with an artificial surface field inside the track, along with areas for throws and jumps.

“The Southern Bank Foundation is pleased to contribute to this project,” said Southern Bank Chairman and CEO Grey Morgan.  “The new Track and Lacrosse Complex will be a great addition to the campus and will help in continuing to attract quality student athletes to the University.  Southern Bank shares the University’s values of integrity and a long term commitment to excellence.”

The Southern Bank Foundation makes charitable gifts to support a large number and variety of charitable programs in communities served by Southern Bank and Trust Company.  Founded in 1901, Southern Bank is a wholly owned subsidiary of Southern BancShares (N.C.), Inc.  With its Corporate Headquarters located in Mount Olive, the Bank has total assets of approximately $2 billion and over 60 locations serving eastern North Carolina and southeastern Virginia.  More information about the Bank is available on the Internet at

The University of Mount Olive is a private institution rooted in the liberal arts tradition with defining Christian values. The University, sponsored by the Convention of Original Free Will Baptists, has locations in Mount Olive, New Bern, Wilmington, Seymour Johnson Air Force Base, Research Triangle Park, Washington, Jacksonville, and in Smithfield at Johnston Community College.  For more information, visit

Pictured (L-R):  University of Mount Olive President Dr. Philip P. Kerstetter, Southern Bank Senior Vice President/Area Executive Greg Eloshway, Southern Bank Senior Vice President/Regional Executive Greg Shackelford, Southern Bank Chairman and CEO Grey Morgan, and University of Mount Olive Vice President for Institutional Advancement Jimmy Williams.