Retired banker ready for second act

Scott Blackmon is going to need some new business cards. The ones that say, “Retired Bank President/CEO” and “Full-Time Farmer,” soon will be outdated.

Blackmon, 54, began passing out the card shortly after taking early retirement in May as head of Regions Bank in Columbia.

It seems six months of retirement will be just about enough for the Columbia banker. Blackmon said he expects to be back in the financial industry by the first of the year.

He is considering offers from two organizations and could make a decision as early as this week. When Blackmon took early retirement, Regions Financial Corp. was going through changes while completing a $6 billion merge with Union Planters Bank of Memphis.

Blackmon said the decision to leave Regions and banking was his completely. He had been a banker for 32 years. He was the son and grandson of bankers.

He wanted to take a break and reassess. “It’s halftime: what are you going to do with the rest of your life?” he said soon after leaving Regions.

He thought about joining the real estate profession. He attended school and got his residential license.

He even talked with Russell & Jeffcoat Realtors about joining the company, he said. His wife, Karen, is business development manger for the firm’s relocation services.

“But I just don't know if that is the best use of Scott Blackmon’s time right now,” Blackmon said.

Shifting to a real estate career is still a possibility at some point, he said. “I don't think that will hurt the resume, but there are just too many other things in banking or stock brokerage that look more attractive right now.”

Blackmon, who spent 18 years with C&S bank, seven years with NBSC and another seven with Regions, has been pursued aggressively by the financial industry since he left Regions.

“It makes you feel really good to know you’ve got two or three options out there.”

Even though Blackmon took early retirement in May, he never really retired in the strict sense of the word.

He spent the summer gearing up for and running the area’s United Way campaign, which he said is going well.

“It kept me off the street during the summer and kept me in the business community,” he said.

A rich history of community involvement is one thing Blackmon will bring to his next employer. He has headed a multitude of business and civic organizations over the years.

This summer he also spent time attending to the details of building a new house in Congaree Park, the development on the west bank of the river just across from downtown Columbia.

Blackmon spent time on the small farm he owns outside Columbia.

But fishing at the farm’s pond got old quickly. ”There are only so many fish you can clean,” he said.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.