Patience, Patience

Out of hundreds of decisions Shaun Merriman made in the early days of Gateway Bank of Southwest Florida in spring 2008, one particular counterintuitive call stands out.

It was the decision to hire longtime local banker Joy Turner for the chief credit officer position. Not only because Turner came to Gateway with nearly three decades of experience in protecting banks from sour and risky loans. But also because the title itself, chief credit officer, was a declaration: Gateway would enter the market, at the cusp of the recession, with a bedrock strategy built to grow slow and steady.

Gulf Coast community banks are historically more aggressive in startup phase. At one time, especially in the glory days of the late 1990s and early 2000s, banks would stock up on senior loan officers and sales and marketing officials right from the start.