Bank on the Future

Garrett Richter built and sold one of the most successful banking franchises on the Gulf Coast.

Now, he's aiming to repeat.

Richter and partners Gary Tice, C.C. Coghill and Robert Reichert sold Naples-based First National Bank of Florida at the peak of the market in 2005 to Fifth Third Bank for nearly $1.6 billion, or 5.75 times tangible book value. They had started the bank with just $7.5 million in 1989 and turned it into a $5.5 billion franchise with 77 branches from Tampa to Orlando, Sarasota, Fort Myers and Naples.