Florida Community Bank, also referred to as FCB, was a bank that operated in the state of Florida from 1923 until January, 2010. It was purchased at that time by Bond Street Holdings Inc, a holding company from Weston with nearly a billion dollars of capital. The purchase allowed the bank to stretch its offerings and leverage its presence throughout the state.
History of Florida Community Bank
The history of Florida Community Bank is a long one, and the bank has seen tremendous growth over the years. The bank got started in 1923, and over the decades expanded its footprint through organic growth as well as the purchase of failing banks. Through its branch expansion, the Florida Community Bank eventually had some $9 billion in assets while providing services to three of Florida’s four largest metropolitan areas. The bank eventually grew to become the fourth-largest independent bank in the state of Florida. The history of Florida Community Bank demonstrated strong leadership and growth skills as the bank hit several milestones along the way.
Although the FCB was officially started in 2010, the bank’s parent company was sold not long after. The headline “Synovus Acquires Florida Community Bank” hit the newspapers in the Summer of 2018. This move made Synovus a top-five regional bank in the southeast, with it having some $36 billion in deposits and $44 billion in assets. The purchase price was $2.9 billion, and the all-stock deal was scheduled to close in the first quarter of 2019. Synovus acquires Florida Community Bank also made Synovus the corporate survivor, and stock holders of FCB were set to receive 1.055 shares of Synovus per each FCB share owned.
What Might Lay Ahead for the Bank
The bank is likely to continue to try to expand its small business lending practice, an area for which the bank has become widely recognized. As the bank will likely keep all of its Southern Florida branches, it will also likely look to expand, purchasing more branches and banks. With a large presence in the area and strong recognition as an independent bank, the future looks strong for Synovus and its operations. The strong foundation that has been built may also support further expansion in the amount and type of goods and services offered to clients.
The bank offers a wide variety of services for both its personal and business clients. Personal banking and finance services offered include checking, savings, certificates of deposit and health savings accounts among others. Business banking services offered include checking, savings, employee benefits, cash flow management and more.
Synovus doesn’t stop at basic banking services, however. The institution also offers clients a selection of investment services that includes institutional trust services, succession planning and investment management. Whatever your needs may be, take the time to speak with a representative today about how Synovus might help. Everything we do and are, from our people to our branches to our products, are here to help you achieve success.