Community bank, fresh off name change, looks for big opportunities in new areas

With a name like First State Bank of Arcadia, it’s easy to see how people might think the bank’s focus is on Arcadia, county seat of DeSoto County and a place known primarily to outsiders for its agriculture, downtown antiquing and the Arcadia All-Florida Championship Rodeo.

But the $143.57 million-asset bank, established in 1973 and owned by holding company Crews Banking Corp., now sees bigger opportunities to Arcadia’s west — in Sarasota and Manatee counties. So bank officials embarked on an extensive rebranding process. The effort, including a new name, expanded services and updated signage, is a microcosm of a larger trend in banking nationally: due to rapid changes in technology and shifting demographics, national and regional banks are grabbing a larger share of deposits, putting small banks in precarious positions complicated by slow growth.