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First Federal Bancorp, Inc., Completes Merger With Coastal Banking Company, Inc.
LAKE CITY, Fla., April 2, 2018 – First Federal Bancorp, Inc. ("FFBI"), the holding company of First Federal Bank of Florida ("First Federal") today announced that it has completed the merger with Coastal Banking Company, Inc. (OTCQX: CBCO), the holding company of CBC National Bank ("CBC").
CBC has been merged with and into First Federal. The merger adds full-service banking offices in Fernandina Beach, Ocala, and The Villages, Fla., and Beaufort and Port Royal, S.C., mortgage lending offices in Florida, across the Southeast and Midwest, and both SBA and USDA lending offices across Florida and in multiple states. In addition to increased influence in Nassau County, First Federal gains 10,000 customers, approximately $600 million in assets, $425 million in deposits, and $400 million in gross loans.
"The merger with CBC allows First Federal to grow our presence, customer base and range of products and services in Nassau County and in other vibrant, economically strong markets in both Florida and South Carolina, as well as add mortgage, SBA and USDA lending offices in numerous states," said Keith Leibfried, president and chief executive officer of First Federal. "We couldn’t be more pleased to welcome CBC’s employees and customers to First Federal, and we look forward to serving the full range of banking and lending needs of all of our customers as we continue to integrate CBC’s operations into First Federal."
First Federal will work to integrate CBC systems, processes, products and services over the next several months. The conversion is expected to be complete in August. CBC customers are encouraged to continue banking as they normally do and will receive further information this summer.
About First Federal
First Federal Bank of Florida is a community bank founded in the heart of North Florida in 1962. Today, First Federal is a $2 billion-asset institution offering a full line of personal and business financial solutions, services and loans through full-service banking offices in Florida’s Panhandle, North Central Florida, and coastal South Carolina. In addition, First Federal has mortgage lending offices across the Southeast and Midwest, and SBA and USDA lending offices throughout Florida and in multiple states. First Federal is a mutual savings bank and continues to receive a "5-Star, Superior" financial rating from BauerFinancial, Inc., of Coral Gables, Fla. For more information, visit www.ffbf.com.
CBC National Bank Named Top SBA Community Bank Lender in North Florida for Fiscal Year 2015
FERNANDINA BEACH, Fla., May 10, 2016 – CBC National Bank, headquartered in Fernandina Beach and with branches in Fernandina Beach, Ocala and The Villages, Fla., and Beaufort and Port Royal, S.C., today announced that the bank has again been recognized as the No. 1 ranked community bank U.S. Small Business Administration (SBA) lender in the north Florida district in total dollar volume and number of loans (and was ranked No. 2 in the state).
“I want to thank and congratulate the lenders that have made outstanding contributions in the North Florida area,” said Wilfredo J. Gonzalez, North Florida District Director. “We have increased lending in the district over the past few years, and I hope to see that growth continue. Our lenders help small businesses create and maintain jobs, and that has a direct impact on local communities.”
Fiscal Year 2015 Lender Award Winners were recognized at the 24th Annual Small Business Week Celebration on May 5, 2016, in Jacksonville at the University of North Florida’s University Center. The event was hosted by the Small Business Development Center.
In October, the U.S. Small Business Administration named the bank’s SBA lending division among the 100 most active SBA 7(a) lenders of fiscal year 2015. CBC National Bank ranked 69th nationally in lending volume, funding 48 loans totaling $57,860,500.
The bank also launched a new Georgia SBA lending operation in October to serve the needs of the growing market for SBA loans in the metropolitan Atlanta and Georgia markets, and will continue to ramp up that operation throughout 2016.
“Our SBA lending division continues to demonstrate outstanding performance in meeting the vital needs of small-business customers,” said Charles Wagner, president of CBC National Bank. “Being named again as the top community bank SBA lender in North Florida and among the 100 most active SBA lenders for fiscal year 2015 is well-deserved recognition for our organization.”
CBC Named Top Community Bank SBA Lender in Florida
CBC National Bank has recently been recognized as the #1 Community Bank SBA Lender by dollar amount in Florida. In 2013, CBC was the top North Florida SBA lender by dollar amount and surpassed that this year with 58 loan approvals throughout the southeast. CBC National Bank is now also recognized as a National SBA Lender.
"This wonderful recognition is a direct result of the hard working team members at CBC National Bank. I can't thank them enough for their dedication to meeting and exceeding the customer's expectations," said Durand Childers, SBA Division Manager.
CBC to Co-Sponsor Small Business Week Celebration
CBC National Bank is proud to be a sponsor of the 2014 Small Business Week Celebration Event on May 22nd at the University of North Florida Herbert University Center.
"As a business who specializes in helping small businesses, we are pleased to be able to support the Small Business Development Center in their endeavors. Small businesses are the backbone of our country and through our SBA Lending Division at CBC National Bank we are ready, willing and able to help them with their financial needs," said Durand Childers, Managing Director of SBA Lending.
For more information, please visit www.sbdc.unf.edu or call (904) 620-2476.
CBC National Bank Wins Top SBA Award
The US Small Business Administration recently announced its list of Top SBA Lenders in the North Florida District and CBC National Bank was recognized as the Top Community Bank Lender by Dollar Amount.
The bank, along with the other 2013 lender award winners will be recognized in May at the 22nd Annual Small Business Week Celebration in Jacksonville, Florida. The event this year is being hosted by the Small Business Development Center at the University of North Florida.
Commenting on the announcement, Durand Childers, Managing Director of SBA Lending at CBC National Bank said, “At CBC National Bank, we believe in taking care of our customers. And we believe in taking care of business. Our SBA lending experts have built a solid reputation as the small business community’s reliable, trusted financial partner. We are excited about receiving this award, but we are just as excited about helping small businesses throughout the Southeast.”
CBC SBA to Host Immokalee Child Care Center's Patron's Party
CBC National Bank will be sponsoring the Immokalee Child Care Center Patron's party in early November. SBA Vice President Tom Maiale currently serves on the Board of Directors for this organization and will be the emcee for the event. The purpose of the party is to thank the large contributors of Immokalee Child Care Center. The event will be held at a private residence in Naples FL.
CBC to Sponsor Commercial Investment Professionals Meeting
Tom Maiale, Vice President and SBA Lender, will be speaking at the August 23rd meeting of Commercial Investment Professionals (CIP). This meeting is being sponsored by CBC National Bank.
The meeting is being held at Cypress Lake Presbyterian Church and begins with networking at 7:15 am.
For more information, please contact Tom Maiale or any member of CIP.
CBC National Bank Sponsors FCCFA Annual Convention
The SBA Division of CBC National Bank will be a sponsor of the 2013 Florida Cemetery, Cremation & Funeral Association's annual convention and trade show. The event is being held at the Waldorf Astoria in Naples, Florida July 25-27, 2013.
The theme for the 2013 convention is "Learn, Lead, Exceed" and over 250 funeral homes throughout the state of Florida will be represented at the event.
CBC National Bank will also be a sponsor of the annual golf tournament during the convention.
For more information on how CBC National Bank can assist your business with SBA loans, please call 1-877-725-7722.
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CBC National Bank to Exhibit at the Georgia Dental Association's Annual Meeting
CBC National Bank will be an exhibitor at the Georgia Dental Association's 146th Annual Meeting July 25-28, 2013. The event provides businesses with an opportunity to interact with the GDA's member dentists.
The meeting is being held at the Hilton Head Marriott Resort on Hilton Head, South Carolina. Members of the CBC National Bank SBA Lending Team will be on hand to assist dental association members with information about all types of SBA loans.
For more information, please call 1-877-725-7722.
CBC National Bank Opens SBA Field Office in Tennessee
May 22, 2013
Memphis, TN - CBC National Bank, headquartered in Fernandina Beach, Florida, is pleased to announce it’s continued expansion into the Mid-South, adding a regional field office in Memphis, Tennessee. The new office will concentrate on Small Business Administration (SBA) lending.
CBC has hired banking veteran John Christy as Vice President and SBA lender to lead the new Memphis office.
CBC Senior Vice President Durand Childers says, “We are excited to have a banking professional like John Christy on our team. His dedication to customer needs and his expertise in the field of SBA lending are assets to our entire company.”
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CBC National Bank Adds Cornell Wesley to SBA Lending Team
May 22, 2013
Atlanta, GA – CBC National Bank is pleased to welcome Cornell Wesley to its Atlanta office as Vice President and SBA lender. Wesley brings a wealth of small business lending and management experience, as well as business development experience to the position.
Since the bank was chartered in 1999, the experts in Small Business Administration (SBA) loans at CBC have been helping small businesses. “We are committed to seeing our commercial customers succeed and we do this by recruiting the best talent in the markets we serve,” said CBC Senior Vice President Durand Childers.
About Cornell Wesley
Cornell Wesley has extensive experience in branch management, underwriting and portfolio management and consistently ranks at the top in customer satisfaction, profitability and quality. He has earned his Master’s Degree in Business Administration from Mercer University, Stetson School of Business and Economics and a B.A. in Arts in Econoimics from Morehouse College in Atlanta, GA.
CBC National Bank Opens SBA Field Office in North Carolina
May 22, 2013
Greensboro, NC - CBC National Bank, headquartered in Fernandina Beach, Florida, is pleased to announce it’s expanding into the Mid-South, adding a regional field office in Greensboro, North Carolina. The new office will concentrate on Small Business Administration (SBA) lending.
CBC Senior Vice President Durand Childers says the bank has been helping small businesses get off the ground since they were first chartered in 1999 and now is the time to broaden its reach into new markets. “There are a lot of community banks in this region that don’t have the in-house expertise for SBA lending that we do,” said Childers. “We’re putting the right people with the right relationships in the right places and we’re excited about the future.”
CBC has hired veteran banker Robert (Bob) Sands as Vice President and SBA lender to lead the new Greensboro office.
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CBC National Bank Adds Bob Sands to SBA Lending Team
May 22, 2013
Greensboro, NC – CBC National Bank is pleased to welcome Robert Sands to its Greensboro office as Vice President and SBA lender. Sands has extensive experience in underwriting and financial analysis and is highly proficient in strategic planning and budgeting. Businesspeople looking to start, acquire or expand a small business in the Greensboro region are already working with Sands to create jobs and inject new capital into the local economy.
Experts in Small Business Administration (SBA) loans, CBC has been helping small businesses get off the ground since the bank was first chartered in 1999. “Our philosophy is the right people in the right places,” said CBC Senior Vice President Durand Childers. “When we have the right people first, we can do some great things in different places, and now that includes great markets like Greensboro.”
About Robert Sands
For over 30 years, Robert has been cultivating outstanding banking relationships in the Greensboro market, specializing in helping to implement ideas that lead to solutions in SBA lending. He holds a B.A. from Catawba College in Salisbury, NC, where he majored in Business Administration and minored in Economics. He has extensive skills in credit underwriting and financial analysis and is highly proficient in strategic planning and budgeting.
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