Colonial’s Bay Area region of Florida experienced growth in noninterest income, non-time deposits, assets and loans in 2003 and is preparing for growth through the addition of several branches. The region has plans to increase its number of locations to 27 by the end of 2005 by building four new branches and adding seven locations from the merger with P.C.B. Bancorp (PCB), which is expected to be completed in the second quarter of 2004. The merger with PCB is projected to increase Colonial’s assets in this region by 44% and deposits by 45%.

The branches in the Bay Area are targeting their customers with a new small business program and products like cash management that are improving the region’s effort to diversify its customer base and grow noninterest income.

This approach, coupled with a genuine focus on community bank service, has helped to bring customers like Vigo Importing Co., a Tampa-grown, multimillion-dollar importer of olive oil and other products, to Colonial for its cash management, depository and personal banking services.