Red Mountain Bank, based in Birmingham, Alabama, is creating a new wealth management division under the brand name Red Mountain Wealth Management Services.

The new venture will provide financial planning and risk management services, trust and estate planning, retirement income and investment planning to individuals and businesses.

The bank has hired Hal Holland to serve as vice president of Red Mountain's new operation.

Red Mountain Bank is a $250 million privately held financial institution with two locations in the Birmingham area. The bank plans to open a third location in Nashville, Tennessee, later this year.