One to Watch: Coastal Community Bank
Talent Ticker’s One to Watch series focuses on new and up-and-coming businesses and banks that we think you should be keeping on your radar.
With a number of new bank charters bustling to the forefront – following a ten year drought – de novo banks and the on-trend startup fintechs have been dominating Financial Services news. As the leading staffing market intelligence platform, we know that being first in the know is key to making successful placements, and that’s where this series will come into play and will soon become your best friend.
Joining our latest One to Watch, Lexicon Bank, and other recent ‘in organization’ banks, VisionBank and Trustar Bank, this week we’re looking at Coastal Community Bank.
Another bank with the self-professed personal touch, President and CEO, Joe Dorsey, is heading up their operations, which are expected to open in the third quarter of 2019 out of their initial office located in Hollywood, Florida. Joining the recently opened Gulfside Bank, the Coastal Community Bank team are focussing on catering to a market in the Florida region that are looking for a less-corporate and bureaucratic, more personable and individually-tailored approach. Dorsey, a former Chief Operating Officer at Calusa Bank and Community Bank of Broward, is joined by Jim Afflerback, who is set to become Chief Operating Officer, and Anthony Fabiano as Chief Financial Officer.
With an impressive leadership team, the bank will be boasting over 500 years of combined community experience for building relationships and operating in a way that helps serve the community. Looking to develop a clientele who are known by name and have strong ties to the locale, this is a bank who are adopting a theology of quality over quantity – although we’re sure quantity is high on their business development plan, too. But it’s not all about the relationships. The bank will also offer advanced banking solutions to provide the best, most secure, and most convenient services.
[bctt tweet=”Hollywood, FL gains a new #bank whose leaders boast over 500 years of combined community experience. #USA #Florida Read more on ” username=”Talent_Ticker”]
It hasn’t been plain sailing all the way for the bank though. Having failed to raise their initial $23m capital target, at the beginning of July the bank submitted an updated application for approval from the FDIC, with a lower capital target. Having only just missed their original target, Coastal are banking on the regulators swiftly processing their new application, having already approved their previous one. With the bank’s upcoming launch, we’re expecting a flurry of hiring activity as they continue their preparations and the ramping up of their operations ahead of going public.
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