B. Scot Lenoir: founder and long-time chairman of Evolve

analysisAccording to the bank's 2024 kit, B. Scot Lenoir rose to chief executive and president of First Mercantile Trust Company, a financial institution with more than $3 billion in assets, and arranged its sale to a publicly traded company; after the sale in 2000 he raised the initial capital for Evolve Bancorp, of which he is founder and chief executive. The Federal Reserve approved National Commerce Bancorporation's acquisition of FMT Holding Company on June 20, 2000, and a regional business publication reported in 2005 that his family had sold First Mercantile Trust, which managed more than $3 billion of pension and profit-sharing assets, to National Commerce Bancorp. In 2004 SunTrust, merging with National Commerce Financial, applied to acquire First Mercantile Trust Company of Memphis. A fintech industry newsletter describes First Mercantile as the firm of Lenoir's father, Kenneth Lenoir, who in 2006 was also listed as an executive vice president of Evolve Bank & Trust. ^{1 2 3 4 5 6}

analysisIn December 2002 Corky's Bar-B-Q and its owners sued National Bank of Commerce and First Mercantile Trust, both subsidiaries of National Commerce Financial, together with First Mercantile's chief executive Kenneth Lenoir and its president Bryan Scot Lenoir, alleging breaches of fiduciary duty and racketeering through undisclosed fees on 401(k) plans and seeking $700 million. These are the plaintiffs' allegations as reported by the press, not findings, and the complaint itself was not retained. National Commerce Financial said the suit contained 'grossly inaccurate assertions' and 'grossly exaggerated damages' and that the parties would vigorously defend it, and a First Mercantile spokesman denied the complaint's statement that Kenneth Lenoir had been terminated. A fintech industry newsletter later reported that the suit was settled for $18 million; no settlement document was retained. The newsletter also reports that First Mercantile and Kenneth Lenoir were named in an earlier pension-plan case that was dismissed after the parties settled. ^{7 5 8 6}

analysisLenoir organised Evolve Financial Group, formed in January 2004, which in 2005 sought to buy Parkin Bancorp, the holding company of First State Bank. A financial-data aggregator lists him as founder, chairman, president and chief executive of Evolve Financial Group and of Evolve Bancorp, former chairman of the bank, and former head of American Trust Co. (Tennessee) and AFS Investment Advisors; those last two roles are undated and do not appear in the other retained records. He chaired the bank for about 20 years; a fintech industry newsletter reported in February 2025 that he had left the chair in July 2024 and now called himself founder, and a bank spokesperson told the newsletter he remained involved in day-to-day operations. In October 2024 he spoke for the bank as its founder when it announced payments to Synapse Brokerage end users, criticising 'the flawed ledgers from Synapse'. ^{1 2 3 4 5 6}

analysisA published database of offshore-company records, using leaked records and Barbados registry data, lists Evolve Assignments Ltd., incorporated in Barbados on May 26, 2009, with six directors including persons recorded as 'Lenoir Bryan Scott' and 'Stafford William Scott', both from May 26, 2009 to September 10, 2014. The database gives no address, date of birth or other identifier for them, so the record does not establish whether they are the bank's founder and its former chief executive; the database's publisher states that many people share names and that inclusion does not suggest illegal or improper conduct. No other retained record mentions the company. ^{1 2}