LAKEWOOD RANCH, Fla., April 1, 2011 /PRNewswire/ -- Community Bank & Company announced today that the Federal Deposit Insurance Corporation (FDIC) has lifted the consent order that the bank has been operating under since November 2009. The State of Florida Office of Financial Regulation had previously terminated its interest in the Consent Order in November, 2010.
Community Bank Chairman and CEO, Bill Sedgeman, said, “This is yet another positive development for Community Bank. Our bankers are working hard each day to serve our community and we are fast becoming the best bank in Tampa Bay. Community Bank has dedicated itself to economic recovery, to lending to the best small and medium sized businesses in Tampa Bay and to making home loans possible for our customers.”
“Community Bank is a highly capitalized and profitable bank and we are excited about all the positive signs we are seeing in the marketplace,” said Director Trevor Burgess. “Community Bank plans to open its sixth branch in April 2011 on Beach Drive in St. Petersburg bringing the Community Bank franchise to Pinellas County.”
Director Marcelo Lima added, “We are working towards consummating our acquisition of and merger with First Community Bank of America. We look forward to serving all of Tampa Bay from a network of 17 branches across Hillsborough, Pinellas, Manatee, Pasco and Charlotte counties.”
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
COMING SOON TO: St. Petersburg -- 158 Beach Drive Northeast
SOURCE Community Bank & Company