Growing bank changes name

LAKEWOOD RANCH — One of the fastest-growing banks on the Gulf Coast, Community Bank & Co., intends to change its name to C1 Bank.

The name change is effective May 1. Bill Sedgeman, chairman and founder of the bank, told the Business Review today that having community in the name of a bank has confused customers. He said a Google search of the bank's market — six Gulf Coast counties from Sarasota to Pasco — found seven banks with the word community in the title. Nationwide, there's at least 15 banks with community in the title.

“We want to brand our difference,” said Sedgeman, who founded the bank in Manatee County in 1995. “This is one way to do it. There are just too many community banks out there.”