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To the south, Colonial is touching all aspects of a diverse market which is now 60 percent Hispanic. “Colonial has a community bank’s mentality,” says Jose Valdes-Fauli, Colonial’s South Florida CEO. “People feel that they’re still dealing with a small community bank, instead of a big bank, and that’s what separates us from our competition.” Florida is also home to Naples, the second-fastest-growing metropolitan area in the nation during the 1990s, and Colonial serves both the affluent retirees in the region and the younger population moving to Florida for jobs in the service industry. Colonial’s Central Florida region, headquartered in Orlando,
is the Company’s second-largest region in Florida and the third in
the Company with $1.6 billion in assets located in nine counties with
45 offices.
Colonial Bank of Central Florida serves the needs of a
diverse customer base from individuals to the business community. In Western Florida, Colonial has built a strong franchise in Tampa/St. Petersburg, home of the Super Bowl Champion Tampa Bay Buccaneers. For the future, the opportunities in Florida remain abundant as the state’s population continues to grow. Florida created more jobs than any other state in the U.S. in 2001, and by the year 2030 the population is projected to grow by 53 percent. This deposit-rich market is also home to more than 50 international banks, as more and more banking institutions try to take advantage of the tremendous deposit growth opportunities presented in the state. Colonial’s successful migration to Florida is no surprise, according to Southwest Florida CEO Harlan Parrish, “The secret is hiring the right people and giving much better service than the bigger banks.” |
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