Banking is easier in Florida

The most visible changes at First National Bank of the Gulf Coast will be signs with the bank's new name: First Florida Integrity Bank.

But behind the scenes, the big change at the Naples-based bank is its conversion from a national charter to a state charter, effective June 28. Although the bank is still regulated by the Federal Reserve, its principal regulator will now be the Florida Office of Financial Regulation.

This makes good sense on many levels, says Gary Tice, the bank's chairman and CEO. For one thing, state regulators speak the same language. “The Florida regulators understand the Florida market,” Tice says.