Norman B. Davis Jr. Joins TruFund as Managing Director of the Alabama Office
NEW YORK, June 13, 2013 /PRNewswire/ -- TruFund Financial Services, Inc., a national not-for-profit Community Development Financial Institution (CDFI), announced that it has recently hired Norman B. Davis Jr. as Managing Director of the Alabama office, located in Birmingham.
In this position, Mr. Davis will report to James Bason, President of TruFund, and provide direction and leadership for TruFund in the Alabama market.
"Norm brings a wealth of experience in Financial Services, which gives him an ideal perspective to lead TruFund's operations in Alabama," said Bason. "He has deep roots in the community and a proven track record in marketing and management, with strong ties to the financial community. We look forward to using his expertise to help underserved businesses and communities throughout Alabama."
Mr. Davis has over 30 years of experience in banking and finance. Prior to joining TruFund, he was Vice President for Business Development at Branch Banking and Trust Company (BB&T), where he helped grow market presence in Alabama.
Prior to BB&T, Mr. Davis held various executive positions at First American Bank of Birmingham and its predecessor, The National Bank of Commerce of Birmingham. Mr. Davis also previously served as Director of The Alabama Department of Economic and Community Affairs (ADECA), and led the State Banking Department for Alabama as Superintendent of Banks.
"I'm excited to join TruFund and look forward to using my developing and established strategic partnerships to work with communities and businesses in Alabama to expand TruFund's lending initiatives," said Norm Davis.
A native of Washington, D.C., Mr. Davis holds a B.A. in Political Economy from Johns Hopkins University in Baltimore, MD and a MBA from the Colgate Darden Graduate School of Business Administration at the University of Virginia in Charlottesville, VA. He is an active member of his community, having held leadership positions at the Red Cross of Central Alabama, Operation New Birmingham, and the United Negro College Fund. Mr. Davis and his wife Carnetta are involved in community service, are members of Our Lady of Fatima Catholic Church, and have two adult sons.
About TruFund Financial Services
TruFund Financial Services, Inc. is a wholly independent national non-profit Community Development Financial Institution (CDFI) with more than $55 million assets under management. TruFund seeks to stimulate economic development in communities that are underserved by traditional banking institutions by providing fair and accessible capital, hands-on technical assistance and innovative solutions to small businesses and nonprofit organizations.
Through its subsidiary, Empowerment Reinvestment Fund LLC (ERF), a certified Community Development Entity, TruFund Financial Services also deploys New Markets Tax Credit (NMTC) allocations to support development projects across the U.S. Since 2006, ERF has been awarded $145 million in NMTCs from the CDFI Fund in five separate allocations. This highly competitive award is part of the NMTC Program enacted by Congress under the Community Renewal Tax Relief Act of 2000 to encourage economic development investment in low-income communities nationwide.
Learn more about TruFund at www.trufund.org.
SOURCE TruFund Financial Services
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