FORT MYERS — Finemark National Bank & Trust has opened an office in Scottsdale, Ariz., the bank's first out-of-state expansion.
Finemark, which opened in Fort Myers in 2007, has six offices in Southwest Florida and reported assets of $461 million. It also manages $767 million in trust assets. The bank earned net income of $1.2 million in 2011, up from $472,000 in 2010, according to the Federal Deposit Insurance Corp.
David Highmark was appointed president of the Arizona office. Highmark and Joseph Catti, president and CEO of Finemark, worked together at Northern Trust in Florida. Highmark moved in 1997 to Phoenix, where he became CEO of Northern Trust in Arizona.
Besides banking, trust and investment services, Highmark will also lead a new sports-management division for the bank.