BRADENTON, Fla., Jan. 14, 2011 /PRNewswire/ -- Chairman and CEO, William H. Sedgeman, Jr., announced today that Community Bank made over $84,000,000 in new loans and commitments supporting Tampa Bay businesses and consumers in 2010. Community Bank also posted net income of $306,000 in the fourth quarter of 2010 -- its third consecutive profitable quarter.
Community Bank specializes in making Small Business Administration loans, traditional commercial loans and residential mortgage loans including "jumbo" mortgages. "With our strong capital position and legal lending limit in excess of $8 million, we have provided and will continue to provide loans to support the growth of businesses in the Tampa Bay region. Every business loan we make supports economic recovery in the Tampa Bay marketplace -- aiding growth and hiring. We have one of the fastest loan approval processes in the market and are dedicated to helping businesses prosper and to helping individuals purchase the home of their dreams," said Katie Pemble, the Bank's president.
Community Bank welcomed hundreds of new checking and savings account customers in 2010 as consumers and businesses made the choice to bank with confidence and at a bank that is contributing to the improved economic strength of the community. "We encourage customers to stop in or call any of our five branch locations to learn why so many people are moving their money to Community Bank. It's exciting to be a bank that is succeeding right here in our community. We are fast on our way to being the best bank in the Tampa Bay market," said Chairman and CEO Bill Sedgeman.
Director Trevor Burgess added, "We will be opening our sixth branch on Beach Drive in St. Petersburg this spring. That will further help us serve the entire Tampa Bay -- Tampa, Riverview, Bradenton, Lakewood Ranch and soon St. Petersburg. We look forward to welcoming everyone in Pinellas County to the Community Bank service experience."
Director Marcelo Lima noted, "Three consecutive quarters in a row of earnings helps to set us apart. We thank all of our new and existing customers for their business and our dedicated staff for their first class service."
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:
2025 Lakewood Ranch Boulevard, Lakewood Ranch, FL
6000 State Road 70, East, Bradenton, FL
7202 Manatee Avenue West, Bradenton, FL
110 South Boulevard, Tampa, FL
10109 U.S. Highway 301 South, Riverview, FL
and coming soon to:
158 Beach Drive NE, St. Petersburg, FL*
For more information, visit the bank's website at: www.CommunityBankNow.com or contact the nearest office by calling 877-266-2265.
*Pending regulatory approval.
SOURCE Community Bank