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Banking
Naples-based TIB Bank is the third-largest bank on the Gulf Coast, with nearly $1.7 billion in assets. TIB was established in 1974 and was called The Islamorada Bank. Photo by Nancy DeNike.
Naples-based TIB Bank is the third-largest bank on the Gulf Coast, with nearly $1.7 billion in assets. TIB was established in 1974 and was called The Islamorada Bank. Photo by Nancy DeNike.

Bank Lifeline

A group of former Bank of America executives plans to invest as much as $350 million in TIB Financial, the Naples-based bank-holding company. The fresh capital saves the company from the unfortunate fate of some of its cross-town rivals and gives existing shareholders another chance.

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William Klich of St. Petersburg retired recently as state president of BB&T and chairman of the Florida Bankers Association. Photo by Mark Wemple.

Account Closed

William Klich concludes a banking career that has spanned more than four decades in Florida. He leaves on a high note and expects banks in this state to regain strength as well.

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The real-estate collateral of Gulf Coast banks could be adversely affected if any oil washes up on local beaches, as it has here in Orange Beach, Ala. The disaster might temper the growing investor enthusiasm for struggling Florida banks, some bankers say. Photo courtesy of Bloomberg News.

Bank bids heat up

Competition for the assets and deposits of failed Florida banks has increased in the last few months as investors swarm the state. But the threat of oil washing up on Gulf Coast shores could dampen their enthusiasm.

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GulfShore Bank, which has just one office in Tampa, reached the $100 million mark in assets through sound underwriting policies, says Joe Caballero, its president and CEO. Photo by Mark Wemple.

Underage Banking

Newer banks in the Gulf Coast region appear to have performed better through the first quarter, based on FDIC figures. Missing the mid-2000s real estate loan frenzy helped.

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Jerry Campbell, a 45-year banking veteran, launched HomeBancorp Inc. in Tampa after having built a multibillion-dollar bank in Michigan. He still sees opportunity in Florida despite the real estate bust. Photo by Mark Wemple.

Choice Branches

HomeBanc’s Jerry Campbell is trying a new way to expand his young $250 million bank — recycling offices and deposits of those that have closed in Florida. Two former Encore Bank branches in Pinellas County are a start.

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David Call, president and CEO of Fifth Third Bank South Florida, says he doesn’t expect economic conditions on the Gulf Coast to get much worse, but it’ll take another two years to rebound.

Call forward

Fifth Third Bank paid a high price to boost its presence in Florida in 2005. David Call, the bank’s South Florida president and CEO, says the situation is stabilizing.

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Robert Clements, the chairman and CEO of Jacksonville-based EverBank, says Bank of Florida had affluent and loyal customers that he hopes to retain. EverBank acquired Bank of Florida’s three failed bank subsidiaries, including the one pictured here in Naples. Photos by Nancy DeNike.

Trading Places

Collier County’s large community banks have been decimated by the collapse of construction and development. But it seems there are plenty of eager banks ready to take their place, including the newest entrant: EverBank.

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