First National Bankers Bank (FNBB) announced Sept. 25 that it has completed its merger with Independent Bankers' Bank of Florida (IBB), expanding its footprint and increasing its customer base across the Gulf South.
Based in Lake Mary,Independent Banker's Bank of Florida is a state-chartered bank providing credit, investment and payment services for community-based financial institutions. It will now operate as a subsidiary of FNBB.
"FNBB and IBB have shared common operating philosophies as conservatively run and traditional banker's 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 said.
The transaction provides FNBB with a new regional office in Lake Mary and grows its customer base to 800-plus community financial institutions. The company 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.
Founded in 1984, FNBB has seven offices in 13 states and provides correspondent banking services to community financial institutions across the southeastern United States. It is the single banking subsidiary of First National Bankers Bankshares Inc.; both are heaquartered in Baton Rouge, Louisiana.
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