LAKEWOOD RANCH, Fla., April 15, 2011 /PRNewswire/ -- Community Bank & Company announced today that its First Quarter 2011 earnings were $194,000. This is Community Bank's fourth consecutive profitable quarter. Strong loan demand and deposit growth propelled the bank past $300 million in assets. Chairman and CEO Bill Sedgeman said, "We are thrilled that hundreds of new clients have joined Community Bank. We are confident that our superior capitalization and fast local decision making sets us apart as one of Tampa Bay's best banks."
The FDIC and State of Florida have now approved the opening of Community Bank's new branch at 158 Beach Dr NE in Saint Petersburg, FL. The branch is scheduled to open on Monday, May 2, 2011. President Katie Pemble noted, "Opening our first branch office in St. Petersburg is a natural progression of our strategy to be the best bank in Tampa Bay. We are excited to become an integral part of the thriving Beach Drive business community and are proud to announce that Sirena Ionata has joined community bank as the bank's retail manager for Pinellas County and will be based on Beach Drive."
Community Bank previously announced its intention to acquire First Community Bank of America and is working towards final regulatory approval in the second quarter of this year. After the merger, Community Bank will have five branch offices in Pinellas County and a total of 17 in the broader Tampa Bay area.
ABOUT COMMUNITY BANK:
Founded in 1995, Community Bank continues to specialize in solutions for individuals by offering the regions best checking account, "Clover Gold," residential mortgages including "jumbo mortgages" with local, quick decision-making, and in business solutions including Small Business Administration loans. Community Bank was recently ranked as the number one local community bank for SBA loans.
Community Bank is a local, independent bank serving the communities of Florida's Tampa Bay:
Lakewood Ranch - 2025 Lakewood Ranch Boulevard
Braden River - 6000 State Road 70 East
West Bradenton - 7202 Manatee Avenue West
South Tampa - 110 South Boulevard, Tampa, FL
Brandon-Riverview - 10109 U.S. Highway 301 South
OPENING 5-2-11: St. Petersburg - 158 Beach Drive Northeast
SOURCE Community Bank & Company