First National Bankers Bank said late last week that it has completed its merger with Independent Bankers' Bank of Florida, based in Lake Mary, Florida, expanding its footprint and increasing its customer base across the Gulf South.
Independent Bankers' Bank of Florida is a state-chartered bank providing credit, investment and payment services for community-based financial institutions.
"FNBB and IBB have shared common operating philosophies as conservatively run and traditional bankers' banks since our respective inceptions over 30 years ago, making this marriage a great fit for both organizations and our customers," FNBB Chairman Joseph Quinlan, Jr., said.
The merger provides FNBB with a new regional office in Lake Mary and grows its customer base to 800-plus community financial institutions. FNBB parent First National Bankers Bankshares of Baton Rouge, Louisiana, predicts that FNBB will grow to close to $1 billion in assets while maintaining a strong leverage capital of approximately 15 percent.
"We look forward to expanding our relationships in Florida and ensuring that all of our customers, present and future, remain well taken care of by an even stronger, more vibrant FNBB for many years to come," Quinlan said. Independent Bankers' Bank of Florida will now operate as a subsidiary of FNBB.
With seven offices in 13 states, FNBB, founded in 1984 and also based in Baton Rouge, provides correspondent banking services to community financial institutions across the southeastern U.S. It is the single banking subsidiary of First National Bankers Bankshares.
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