LARGO, Fla., Feb. 18, 2011 /PRNewswire/ -- USAmeriBank is pleased to announce that earlier this week it exceeded $1 billion in assets, a major milestone in the growth of the company.
The growth of the bank, formed in February 2007, has been fueled by its lending to established businesses in the Tampa Bay area. This is tied to a full-service approach that has struck a chord with area business owners and consumers.
"Our combination of knowledge, experience and personal service sets us apart," said Joseph V. Chillura, USAmeriBank's CEO. "As many banks focus on internal issues, we have found tremendous opportunities to responsibly expand our customer base."
USAmeriBank, which passed the $1 billion mark in assets on Monday, February 14, ranks among the five largest community banks in the Tampa Bay area, according to the Tampa Bay Business Journal's Book of Lists.
Among the 140 U.S. banks formed four years ago, today USAmeriBank is the third largest, and cumulatively the third most profitable. And with nonaccrual loans totaling only 0.76% of total loans, USAmeriBank's credit quality is among the strongest in the region.
The bank works with a wide variety of businesses around the Tampa Bay area. In addition to helping such companies as manufacturers, retailers, auto dealers, real estate developers and restaurants, the bank is quickly growing its Professional & Executive division, which focuses on working with practices such as law firms, medical groups, and accounting firms.
In its retail operations, helping customers with both personal and business needs, the bank has grown to six branches in Hillsborough and Pinellas counties, with a seventh branch planned to open this spring in St. Petersburg. With 147 employees at present, USAmeriBank plans to make 48 new hires in 2011.
The bank is celebrating the $1 billion mark this week with "One Billion Strong" events in its branches for customers and employees, recognizing that the quality of its employees and its focus on helping growing businesses sets the stage for more growth in the future.
About USAmeriBank: USAmeriBank is an independent, non-public bank based in Largo, Fla. that has established itself as an outstanding middle-market financial institution. It serves the needs of individuals and businesses in the Tampa Bay community by providing a high-level of personalized service and attention to a targeted customer base. USAmeriBank's parent company is USAmeriBancorp, Inc. More information is available at http://www.usameribank.com.