Little Rock, Ark. – Southern Bancorp Bank, a Community Development Financial Institution (CDFI), has announced the hiring of Miguel Vega Jr. as its Director of Mortgage Production. The position marks the latest step in the CDFI’s expanding efforts in the mortgage industry.
“I am thrilled to welcome Miguel to our growing mortgage team,” said Jeremy Davis, President of Mortgage. “Miguel’s years of experience in not only the lending space but also in strategic community development and affordable housing align well with our efforts as a mission-focused institution, and his expertise will help us continue to expand our impact for under-resourced communities throughout the South.”
Vega brings nearly 30 years of experience in market share growth, strategic lending and community development to his new role with Southern Bancorp. Most recently, he served as the Head of Revenue, Affordable Housing and Community Lending Growth Strategies for Nuestro, a fintech based out of Nashville, Tenn., focused on helping Hispanic and Latino individuals access capital and paths to financial opportunity. Prior to this, he served in various roles for First Community Mortgage, Inc., in Murfreesboro, Tenn., first as VP, Business Development/Multicultural Lending, then as Chief Diversity Officer, and ultimately as EVP of Business Development. Under his leadership, First Community Mortgage received the Mortgage Bankers Association’s National Diversity and Inclusion Residential Leadership Award for Mortgage Outreach Strategies in 2017 and 2021.
As the Director of Mortgage Production at Southern Bancorp, Vega will be responsible for managing the CDFI’s growing mortgage division, including oversight of sales management, growth, pipeline operations, adherence to policy, and profitability.
“It is an incredible honor to join this historic, mission-driven organization at Southern Bancorp,” said Vega. “The majority of my career has centered around identifying and bridging economic gaps to ensure everyone in our communities has the ability to pursue and achieve homeownership. I’m excited to join the team of ‘Wealth Builders’ at Southern Bancorp and do more of this important work for underserved individuals and families across the region.”
One of America’s oldest and largest community development banks, Southern Bancorp’s organizational structure consists of three separate CDFIs working together, including Southern Bancorp, Inc., a bank holding company; Southern Bancorp Bank, a community development bank; and Southern Bancorp Community Partners, a 501(c)(3) nonprofit loan fund. Southern Bancorp’s customers and communities are served by all three certified CDFIs, which together provide the full scope of access, support, and resources needed for individuals and families of all types to build wealth and strong financial futures.
An active member of his community, Vega also serves on a number of boards and committees, including as incoming 2025 President of the Nashville Mortgage Bankers Association; National Affordable Housing Advisory Council Member for the Mortgage Bankers Association; Vice Chair of the Housing Fund of Tennessee; and Advisor to the Single Family Programs Director of the Tennessee Housing Development Agency.
About Southern Bancorp
Founded in 1986 by some of the nation’s leading political, business, and philanthropic leaders with an initial investment of $10 million, Southern Bancorp, Inc., along with its development partners – Southern Bancorp Bank and Southern Bancorp Community Partners – has grown into a $2.8 billion asset organization with 56 locations serving 65,000 customers across two states. Southern Bancorp has a unique array of financial products and services designed to help individuals at all stages of life’s financial journey – from teaching kids how to save to helping entrepreneurs and families realize the American Dream. Southern Bancorp is a certified Community Development Financial Institution, certified B-Corp, and proud member of the Global Alliance for Banking on Values. Learn more at www.BankSouthern.com and www.SouthernPartners.org.