The assets at two banks headquartered on the Gulf Coast crossed important billion-dollar milestones recently.
USAmeribank in Largo recently reached $3 billion in assets. “We're excited about that,” says Al Rogers, executive vice president and senior lender at USAmeribank. “There are not many independent banks that size; it puts us in good position to compete with the bigger banks.”
Another newcomer to the club is First Florida Integrity Bank, which recently crossed the $1 billion mark, says Gary Tice, chairman and CEO of Naples-based First Florida Integrity.
Fact is, the club of billion-dollar banks is relatively small on the Gulf Coast. There are only five banks headquartered in the region with more than $1 billion. Besides USAmeribank, the others include Raymond James Bank ($12.5 billion), C1 Bank ($1.5 billion) and Bank of Tampa ($1.3 billion). Statewide, there are 24 banks with more than $1 billion in assets with their headquarters in Florida.
Assets of a bank include loans, cash, securities and bank premises. As the economy recovers throughout the region, look for other banks to join the billion-dollar club.