Southern Bancorp appoints new mortgage leader

The role focuses on underserved communities' finances

Southern Bancorp appoints new mortgage leader

Southern Bancorp Bank has tapped industry veteran Miguel Vega Jr. (pictured) to lead its growing mortgage division as director of mortgage production.

As director of mortgage production, Vega will oversee the organization’s mortgage division. His responsibilities include managing sales operations, driving growth, ensuring compliance with policies, and maintaining profitability.

“It is an incredible honor to join this historic, mission-driven organization at Southern Bancorp,” said Vega. "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.” 

Vega brings nearly three decades of experience in areas such as market share growth, strategic lending, and community development. His previous role was head of revenue for affordable housing and community lending growth strategies at Nuestro, a Nashville-based fintech focused on providing financial opportunities to Hispanic and Latino communities. Before that, Vega held leadership positions at First Community Mortgage, Inc., where he oversaw multicultural lending, served as chief diversity officer, and later became EVP of business development.

Under his guidance, First Community Mortgage was recognized with the Mortgage Bankers Association’s National Diversity and Inclusion Residential Leadership Award in 2017 and 2021 for its outreach strategies.

In addition to his professional accomplishments, Vega holds leadership roles in various organizations, including serving as the incoming 2025 president of the Nashville Mortgage Bankers Association and as vice chair of the housing fund of Tennessee.

According to Southern Bancorp president of mortgage Jeremy Davis, Vega’s background in lending, community development, and affordable housing complements the institution’s mission to serve under-resourced communities.

“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,” said Davis.  

Founded in 1986, Southern Bancorp is a $2.8 billion-asset organization with 56 locations and 65,000 customers across two states. Its structure includes three certified CDFIs: Southern Bancorp, Inc., Southern Bancorp Bank, and Southern Bancorp Community Partners, which together provide financial resources and support for wealth building in underserved areas.

What are your thoughts on Southern Bancorp’s latest appointment and its focus on mortgage lending for underserved communities? Share your opinion below.