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ST. PETERSBURG — C1 Bank, which both changed its name and moved its corporate headquarters this year, continues to outperform most other community banks on the Gulf Coast.
The bank reported net income of $2.2 million for the second quarter — an all-time quarterly high, according to a release. It was also the ninth consecutive quarterly profit for the bank, which was previously based in east Manatee County, under the name Community Bank.
“Second quarter was fantastic,” CEO Trevor Burgess says in a release. “We changed our name to C1 Bank, we completed the acquisition of The Palm Bank welcoming thousands of new clients, and we had strong profitability.”
Year-to-date net income at the bank in the quarter was up 45% over the 2011 second quarter, according to the release. As of June 30 C1 Bank had $733 million in deposits and $925 million in assets. The bank now has 193 employees, up from 153 at the end of 2011.
C1 Bank has 21 locations spread through Charlotte, Hillsborough, Manatee, Pasco and Pinellas counties.
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