Jim McGill of Burlington, N.C., will receive the Frank S. Holt Jr. Business Leadership Award during a special luncheon at noon, Tuesday, March 7 in the Woods Center, located at Rhodes Stadium on the Elon University campus.
The award was established by Elon’s Martha and Spencer Love School of Business to recognize a local citizen whose contributions to business and the community reflect the same progressive, visionary leadership exemplified by the award’s namesake. The late Frank S. Holt Jr. was president of Holt Manufacturing Co., and an active civic leader.
McGill retired as president and chief executive officer of 1st State Bank in Burlington in January, following the merger of 1st State Bancorp, Inc. and Capital Bank Corp. of Raleigh. He currently serves as chairman of the Capital Bank Foundation and will continue with Capital Bank Corp. as a consultant for the next four years.
McGill served as president and CEO of 1st State Bancorp, Inc. and its subsidiary, 1st State Bank, from 1988 to 2006. Under his leadership, 1st State’s assets grew from $180 million to $380 million and its capital increased from $7 million to $70 million. He successfully converted the bank from a mutually owned savings bank to a publicly held commercial bank.
Before leading 1st State, McGill worked at First Union National Bank from 1966 to 1988, where he served in many management capacities, including executive vice president and regional executive responsible for all banking activities in western North Carolina.
McGill has served on numerous charitable boards, including Hospice of Alamance, Alamance Community College, St. Joseph’s Hospital in Asheville, the Greater Asheville Chamber of Commerce and as past chairman of the North Carolina Bankers Association. He also served as campaign chair for Alamance County United Way and as vice president of marketing at the Winston-Salem Chamber of Commerce.
McGill attended Chowan College and East Carolina University before entering the military. He served in the United States Army from 1963 to 1965, working as an instructor in the Army School of Engineering in Fort Belvoir, Va. Later in his professional life, McGill attended the N.C. School of Banking and The Executive Program at the University of North Carolina’s Kenan-Flagler Business School.
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