Bank quickly hits $200 million milestone

Brandon Box had a high degree of confidence in the Cogent Bank model, focused on local decision-making, when he led the Orlando-based bank’s Southwest Florida expansion in July 2020. That was in spite of the then-raging pandemic.

With some $230 million in deposits in the Fort Myers and Naples banking centers in less than two years, Box’s confidence seems to be justified. The Southwest Florida Cogent market has also opened some 1,600 accounts and completed over $100 million in loan closings since July 2020. While the region is supported by the marketing power of Cogent, which has $1.07 billion in assets, surpassing $200 million in deposits in less than two years remains a solid accomplishment. Some community banks take four or five years to reach that mark. “That’s a lot of activity,” Box tells Coffee Talk. “It’s a testament to the market appetite for a smaller bank option.”