Spotlight On: Judy Wishnek, Commercial Market Executive, Truliant Federal Credit Union

Spotlight On: Judy Wishnek, Commercial Market Executive, Truliant Federal Credit Union

By: Felipe Rivas

2 min read January 2020 — Credit unions are growing at a fast pace across the country and in some cases rivaling banks, with their focus on long-term relationships with their members. North Carolina’s Truliant Federal Credit Union Commercial Market Executive Judy Wishnek says the credit union is well-capitalized and plans to continue to broaden its technology offerings to help it expand in the vibrant Charlotte commercial lending market. 

What is the state of business for banks and credit unions in the middle of the Charlotte boom?

 

Charlotte’s banking and credit unions have all had a great deal of growth, with a lot of people moving to the city. In the banking sector, many new names have entered the market, and credit unions specifically have had impressive growth. All credit unions combined now have about 115 million members nationwide. Truliant, specifically, has over 250,000 members. A recent article in the Wall Street Journal said that credit unions are now going toe to toe with other financial institutions, adding that credit unions’ asset growth is outpacing that of banks, and our industry is very well-capitalized. In Charlotte, Truliant has added nine locations in the last five years, to a total of 12 in the city. In the last year, we also added a commercial lending office.

 

What are the benefits of joining a credit union instead of putting yourself in the hands of a bank?

 

Credit unions are about deeper financial relationships. It is a very personalized type of service with high emphasis on guidance and helping members make the right decisions. We are not focused on the bottom line, because we are a not for profit. It is not a short-term strategy but a long-term strategy of working with our members to help improve their lives and their decision-making. In commercial lending, we have the opportunity to start telling our story and letting people know that we are a great source of financing for commercial real estate.

 

People are looking for lots of options and the ability to make decisions. It is nice that in Charlotte they can work with a credit union that is focused on really understanding their needs and helping them. We are investing in locations close to them, but we are also investing in technology so they have the option of having their financial needs met online or in person.

 

How is technology, such as the eClosings system for mortgages and credit, helping your clients and shaping your business?

 

Offering these efficient loan closings saves people time and money, and it can be done anywhere. There is less chance for error in their filings, and it is more secure, allowing the records to be recorded instantly. It also reduces paperwork, legal fees, mailing and courier costs. We are just excited to be a leader in that space. I think that this is going to be something that is going to spread throughout the country, and North Carolina and Truliant were innovators in getting this to work first.

 

Additionally, we have added a chief digital officer, a digital marketing director, a vice president of digital innovation and a vice president of IT infrastructure. Hiring these specialists has enhanced optimization and automation to ensure we stay on top.

 

What are Truliant’s expansion plans in the region? What is your relationship with the local business community?

 

We continue to look for additional locations, and I think we will continue to find areas to add brick and mortar offices in the Charlotte area. But I think we will continue to add people digitally, because it is very easy to grow our online services.

 

All the folks in the commercial lending office have been here for a very long time and are very involved with the business community. We sit on a number of boards, and we are involved with different organizations. It really is about relationships, and that helps Charlotte work.

 

To learn more about our interviewee, visit: https://www.truliantfcu.org/

 

Spotlight On: Vito S. Pantilione, President & CEO, Parke Bank

Spotlight On: Vito S. Pantilione, President & CEO, Parke Bank

By: Yolanda Rivas

2 min read anuary 2020 —  Parke Bank is expanding its lending business, including construction lending, from the South Jersey and Philadelphia areas to North Jersey and New York’s Brooklyn and the Bronx with its lending expertise. Parke Bank has a major Asian client base, which makes it important to keep a careful eye on the politics of the country toward China. Parke is also one of the few banks that provide banking services to the cannabis industry, which also requires careful monitoring of Washington’s ever changing position on the emerging cannabis business, says Vito Pantilione, president & CEO of Parke Bank, in an interview with Invest:.

 

 

What main changes have you observed in the banking and loan business in the South Jersey market?

 

We are in a great location to provide lending and banking services in New Jersey, and the Philadelphia area, in addition to expanding up into the Lehigh Valley area. Because of our growth, we’ve also grown our lending operation to North Jersey, Brooklyn and the Bronx.

 

The banking industry is always changing, I don’t think there is any other industry except maybe insurance where there are as many regulatory changes. There is also a lot more competition, even from nonbanking entities. We embrace competition because it makes you pay more attention and sharpen your pencil.

 

What services are most in demand for an institution like Parke Bank?

 

One of the services we’ve offered since we opened the bank is construction lending. It is a very attractive product, especially because many banks have discontinued this banking product. Even though the regulations for construction lending have become much more stringent, our structure allows us to handle it because we are well-capitalized and we have the experience and expertise. We find that our construction lending product is very attractive in the Philadelphia and South Jersey area and most recently in the Bronx and Brooklyn. We carefully entered the Bronx and Brooklyn markets and now have multiple multifamily projects and commercial loans in these areas.

 

How does the bank support the small business community in South Jersey?

 

We are very active in commercial lending, which includes small business lending. Some of our commercial lending is related to real estate as we have financed many investment properties. We also look at some of the South Jersey markets that need extra services, like startup companies and small companies that need to expand to remain competitive, where it is more difficult to get financing. We look at those sectors and try to establish loans and banking relationships to help support those markets. 

 

Small business lending is important to us. We are a Small Business Administration (SBA) lender, which allows us to provide funding for projects to small businesses that may not fit into the standard bank  financing. The SBA is a perfect vehicle to provide the needed credit enhancement to make those loans possible. That type of lending with small business banking also provides the opportunity for full service banking, bringing much needed deposits.

 

Are there any worries or challenges in the banking industry that Parke Bank is watching?

 

One area in which we’ve been very fortunate is our Asian business. I used to be president of a Chinese bank in Philadelphia, and when I opened this bank in 1999, I was fortunate that a lot of my clients and friends from the Asian bank followed us to Parke Bank. The current Chinese trade situation with the United States is a concern to me personally, which can reduce growth in the Asian market. As far as actual business, it has not really affected us that I can see. We are still getting new Asian customers and we have a branch right in the heart of Chinatown in Philadelphia, with a multilingual staff. We are very proud of that.

 

Another potential challenge is the Banking Secrecy Act, which is of major importance to us because we are one of the few banks in the country to provide banking services to the cannabis industry. We entered the market totally by accident because we had a major customer of the bank who received a permit to open a cannabis dispensary and asked us to finance the building. We loaned him millions of dollars over the years and it wasn’t until two years later that we realized what a major step that was for Parke Bank. At that time, we were one of the very few banks that was even banking cannabis. Now we have about 130 customers, and that is an industry where government regulations are having a big impact. We are very careful to follow the regulations that are in place, given there are really no clear regulations yet in place because it is not legal at the federal level. We are a state-chartered bank doing business with state-approved cannabis businesses. 

 

 

To learn more about our interviewee, visit:

Parke Bank: https://www.parkebank.com/ 

 

Spotlight On: Richard Helber, President and CEO, Tropical Financial Credit Union

Spotlight On: Richard Helber, President and CEO, Tropical Financial Credit Union

By: Max Crampton-Thomas

2 min read December 2019 — There are options when it comes to banking and it’s not just choosing between the multitude of traditional banking institutions. When Invest: spoke with Richard Helber, president and CEO of Tropical Financial Credit Union, he made sure to convey that unlike traditional banks, its credit union is a not-for-profit cooperative whose main goal is putting the customer’s interests first. He also spoke highly of the benefits of being located in South Florida and the trends he is keeping a close eye on as we turn the corner into 2020.

 

 

What advantages are afforded to customers who bank with a credit union like Tropical Financial as opposed to traditional banks? 

One factor that really makes us different from our banking counterparts is that we are not for profit. We are organized as a cooperative, so we refer to our customers as members because they actually own us. They elect among themselves individuals who will be on our board of directors. Our board of directors are all volunteers. Because we are a nonprofit, we do not pay income taxes and also do not have a profit motive. 

Banks are organized for profit and we are organized for service, with the philosophy of people helping people. What this means to consumers is that we are putting their interests first. There is no stock and we have no stock options. Our goal with our volunteer board is to put the interests of our members first. This translates into trying to be more competitive on our rates and fees and providing better service. In this day and age when there are so many people with busy lives, our mission is to help them make their finances easy to access and affordable so that they can get on with the things that are important in their lives.

How is the location of South Florida conducive to the future success of your operations? 

There are a lot of positive things happening in South Florida. The state is still seeing over 1,000 people a day moving within its borders. There are still companies that want to relocate here or anchor themselves in Florida. It also helps that this is an international market as well. This has increased the amount of diversity in terms of the number and types of companies that are here, in addition to the variety of professionals who have moved into the state.

What are the continuing or emerging trends in banking that you are keeping a close eye on as we move into 2020? 

One of the trends we are watching carefully is the tellerless branch. This is just starting to happen in South Florida and in different markets across the county. This machine is more or less a highly sophisticated ATM. But it can do a lot more than just take a deposit and dispense cash. They can do all the same things a human teller would do and unlike a human, they can be available 24 hours a day. The branch is being transformed into a financial consultation center not a transaction center.

Another trend we have observed is that when it comes to banking, the younger segment of the population wants tools to help them better organize their finances and make good decisions. For that reason, we have created the Get Beyond Money platform where an individual can sign up to meet with a money coach and develop a financial action plan. 

To learn more about our interviewee, visit: 

https://www.tropicalfcu.com/

Truist completes merger to create country’s sixth-largest commercial bank

Truist completes merger to create country’s sixth-largest commercial bank

By: Felipe Rivas

2 min read December 2019 — The banking industry welcomed the nation’s sixth-largest commercial bank earlier this month as regulatory authorities completed the merger between BB&T and SunTrust banks, now officially known as the Truist Financial Corporation. The new bank will be headquartered in Charlotte, North Carolina, while Atlanta retains its corporate and investment banking division. The conversion to the Truist brand will be phased out over two years as systems are integrated and will serve approximately 10 million U.S consumer households and businesses. The Truist brand will keep its predecessors’ philanthropic culture by contributing close to $100 million annually to various metro Atlanta community organizations over the next three years.  

“This is a historic moment for Truist – a financial services organization created from two companies with shared values and a deep commitment to building a better future for our clients and communities,” said former BB&T Corporation CEO and Truist Chairman Kelly King in a press release. “The completion of this merger of equals is a tremendous achievement and a testament to the thousands of Truist teammates who have diligently worked to ensure its timely conclusion.”

Truist will have the largest market share of any bank in metro Atlanta and will rank as one of the leading commercial banks in most of the major markets in its territory. Prior to the merger, SunTrust had been Georgia’s largest bank. “We have much work ahead of us, but we’re well-positioned to create meaningful change for the clients we serve and the communities where we live and work,” said former SunTrust CEO and Truist President William Rogers in a press release. 

To that end, its leaders announced a $60 billion community benefits plan in July earmarked for lending or investment in low- and moderate-income communities from 2020–2022. The commitment includes monies slated to help customers with home purchase mortgages and small business loans, as well as creating affordable housing developments and investments in local community redevelopment agencies across its markets.

Metro Atlanta can expect close to $100 million in community investments annually for the next three years. The community investments will support varying initiatives each year aimed at addressing the diverse needs of the region. Previously, SunTrust supported nonprofit organizations such as the Boys & Girls Club of Atlanta, YMCA of Metro Atlanta, as well as investing more than $10 million in Low-Income Housing Tax Credits to help construct 175 units of affordable senior housing in greater Atlanta, according to its website.

As for the Atlanta Braves’ newly built home, SunTrust Park will keep its namesake for now.  Much like the systems integrations, the rebranding efforts, including BB&T and SunTrust sports related facilities, could take close to two years to bear the Truist name, per different reports. 

For now, clients can continue to use their perspective BB&T or SunTrust branches, websites, mobile apps, financial advisers and relationship managers, as well as use BB&T and SunTrust ATMs to make withdrawals without incurring out-of-network fees, Truist officials said. 

 

To learn more, visit: https://www.thepremierfinancialinstitution.com/

Spotlight On: Robert Kane, Market President, KeyBank

Spotlight On: Robert Kane, Market President, KeyBank

By: Yolanda Rivas

2 min read December 2019 — Philadelphia’s growing economy and robust education and life sciences sectors have been some of the main drivers of small businesses to the area. As reported in our Invest: Philadelphia 2020, many banks are seeing growth in small-business lending and services. KeyBank Market President Robert Kane, spoke to the Invest: Philadelphia team about the ways the institution supports the region’s small businesses and other services in high demand. 

How have you seen the small-business community grow in Philadelphia over the last few years and how is the bank supporting these businesses?

 

Philadelphia has long been home to successful small businesses, but in recent years the collaboration between the public, private and nonprofit sectors is spurring a new level of growth. Companies are creating quality jobs that are attracting a new generation of talented workers to the region. It is very exciting. As a bank, our most direct link to supporting these businesses is to provide them with the solutions they need to identify and realize their goals. From accounts to lending, payments, workplace solutions and more, we help small businesses thrive. For example, KeyBank is 13th among more than 1,800 SBA Lenders nationally. In the last five years, we have loaned more than $1.13 billion to small businesses across our footprint. We also created an award-winning, AI-enabled tool that provides clients with customized attention and allows a deeper understanding of their needs: the top challenges they face, sales and payment trends and entrepreneurial motivation. In 2019, the biggest challenges small-business owners face are improving cash flow, reducing operating costs, improving financial wellness, balancing growth with quality and hiring and retaining talented employees. We have a number of products to aid in meeting these challenges, including Key@Work, which is a comprehensive, no-cost employee financial wellness program. We also have a program, Key4Women, that supports the financial progress of women in business. It’s a great program, offering mentorship opportunities, access to capital and professional development. 

Which of your services is seeing the most growth in Philly and what opportunities does this present?

We’re seeing the most growth in commercial lending, which serves the needs of companies with $10 million to $250 in annual sales. In 2018, we had growth just short of 16 percent. Our differentiator in the market is we are both a commercial and investment bank. Years ago, you had commercial banks and investment banks. They were separate entities. This is important because when a company decides they want to sell, they typically need to hire an investment banker. KeyBank can provide our commercial clients with access to investment bankers as well as industry experts. It really helps us build deeper relationships. In the greater Philadelphia region, we have a few companies under mandate with KeyBanc Capital Markets to be the companies’ investment banker as part of the sale process. What that does is helps KeyBank become more of a trusted financial adviser to their commercial borrower. If the commercial borrower is going to be sold, we can also introduce our wealth management team to the entrepreneur for advice on his or her estate plan and investment strategy for the proceeds from the sale of the company. All of this results in KeyBank acting as the lender, the investment banker and the wealth manager. Clients value deep relationships. Our model provides that, and we’re experiencing great growth as a result. Last year was our strongest year yet, and 2019 looks equally promising.

What is your outlook for the industry in Philly over the next 18 months?

The outlook for the region is good and overall the economy is very healthy. Manufacturing, industrial technology, healthcare, sustainability—each of these areas and many others are poised for continued growth. At KeyBank, our goal is to grow as well. My job is to expose the bank even further in the marketplace. 2017 was a year of complete consolidation for us. 2018 was a transitional year that got things moving in the right direction and created momentum. 2019 is our year to hire the right people and continue to expand the products we have and begin winning in the market. We want to compete with the Top 5 banks in the region. It’s a very competitive marketplace, and we currently rank 10th. We’re actively trying to grow households and add new clients. This will further grow our loan base. These are the most important factors to our outlook for the future.

 

To learn more about our interviewees, visit:

KeyBank: https://www.key.com/personal/index.jsp

Spotlight On: Kevin Miller, President & CEO, Addition Financial

Spotlight On: Kevin Miller, President & CEO, Addition Financial

By: Yolanda Rivas

2 min read November 2019 — As the banking sector gets more concentrated, some financial institutions are implementing rebranding efforts to meet the demands of customers and keep up with the latest innovations and technologies. Addition Financial recently went through a rebranding effort and is now focusing on expanding its footprint. President and CEO Kevin Miller shared the financial institution’s latest updates with Invest: Orlando. 

 

 

What has been the impact of rebranding as Addition Financial?

In the last year we have made multiple changes, the biggest being our transition from a federal charter to a state charter. The state of Florida has a business-friendly environment and they were able to offer us some additional regulatory flexibility, for example a much larger territory and additional flexibility in the way we conduct our business and investments. We changed our name from Central Florida Educators Federal Credit Union to Addition Financial. We have also been expanding our footprint and recently acquired a small bank. These efforts have been part of our focus on expanding our presence throughout Central Florida.

 

We are focusing on our name change and rebranding effort to make it clear that more people can join the credit union. The rebranding has been positive, we have more people joining us and our new message, image and culture have been well-received. We have been in Orlando for more than 80 years. We have a great relationship with the community, which is vibrant and growing at a rapid pace. The diversity of culture in Orlando, provides us with numerous opportunities to continue our expansion and reach more people. 

 

What differentiates Addition Financial from the competition?

As a credit union, we are a not-for-profit financial institution, which means that our motivations are different than the for-profit institutions. A differentiator for us is our focus on the community and our educational ties. When we interact with our members we focus on the educational aspect. We support education and we also make sure that we educate people about financial literacy. We partner with K-12 schools in Orange, Osceola and Seminole counties and we have student-run branches in some high schools in each of those counties. We train the students to run the branch and teach financial literacy to their peers. We also have a program to educate college students on meeting their unique financial needs. In addition, we are working on housing affordability with these partners. We partnered with the districts to create a custom program to help teachers live in the communities where they work. 

 

What are some notable changes in Orlando’s banking and finance sector over the last few years?

 

A lot of the people who come into our branches are surprisingly young. The younger generations are looking for consulting and advisory types of services, while the older generation comes to our branches mostly for transactions. In terms of services, we have seen an uptick in small business demand. We focus on smaller businesses that maybe don’t feel like they have enough size or capital to go to some of the larger financial institutions. Lending is at an all-time high for us. We are seeing a lot of refinancing, especially with interest rates being so low.

 

 

To learn more about our interviewee, visit:

Addition Financial: https://www.additionfi.com/ 

 

Return to Invest: Orlando
Spotlight On: Sam Miles, First Senior Vice President, Central Florida Regional President, Valley Bank

Spotlight On: Sam Miles, First Senior Vice President, Central Florida Regional President, Valley Bank

By: Yolanda Rivas

2 min read November 2019 — Central Florida’s economic growth has driven many financial institutions to rebrand and adjust to the latest innovations and client needs. That is the case of Valley Bank. In a discussion with Invest:, First Senior Vice President Sam Miles, who oversees the regional bank’s Orlando and Jacksonville markets, addressed trending business areas for the bank, the impact of its Professionals Group and the bank’s branch rebranding effort. 

 

Which of the bank’s lending areas are seeing the most demand?

 

Our largest piece of business revolves around commercial real estate financing. There is a significant amount of capital being invested in real estate in Central Florida. As an example, there are 38 new multifamily projects either under construction or in the planning stages that represent $1.7 billion in investment. That growth, combined with strong employment, is creating high demand for residential developments, and we are very active in multifamily construction lending. In the last year, we also expanded our SBA team to help address the small-business lending market in Orlando. We have a full array of professionals in place with expertise in residential lending and SBA lending to complement our commercial real estate and C&I teams. 

What are your expectations for the relaunched Professionals Group? 

With the relaunching of the Professionals Group we’re trying to reach an affluent population that we haven’t specifically targeted previously. The Professionals Group is a team of commercial lenders dedicated to customizing products and services for any 

group of professionals, including doctors, attorneys, accountants and centers of influence operating throughout our bank’s footprint. It can be a wonderful source of referrals and, by establishing relationships with these professional groups, we will be able to drive new business.

 

How is Valley Bank improving customer experience? 

 

We are in the process of rebranding and redeveloping our branches to make them more user friendly. Clients will no longer have the traditional walk-in when they visit our branches. We are providing a modern feel with a warm and welcoming setting. Each branch that we are building now is going to have that model. We are also refurbishing existing branches to fit a more modern and welcoming environment. These new branches fit the trend of people wanting a different, fast-paced environment. 

 

How does Valley Bank give back to the Orlando community? 

 

We’ve played a big part in LIFT Orlando, and the redevelopment of the West Lakes area. We have been heavily involved in financing the projects there that are revitalizing that community. That is a wonderful community effort and we’re proud to play a part in it. Our team also spends a lot of time in the community with local groups such as The Ronald McDonald House, Second Harvest Food Bank and The Coalition for the Homeless. We provide paid days off to encourage our employees to volunteer and give back to the communities where we serve. 

 

To learn more about our interviewee, visit:

Valley Bank: https://www.valley.com/

 

Return to Invest: Orlando
Spotlight On: Tansy Jefferies, Principal, International Tax Services, RSM US LLP

Spotlight On: Tansy Jefferies, Principal, International Tax Services, RSM US LLP

By: Max Crampton-Thomas

2 min read November 2019 — In today’s tight labor market, companies are feeling the pressure more than ever to stand out as leaders both in their industry and in their community. This includes efforts to promote diversity and inclusion within their organizations. Tansy Jefferies, principal for international tax services at RSM US LLP, spoke with Invest: about how RSM is leading the way in shattering the gender barriers in the accounting industry with 30 percent female ownership within the company, and the firm’s efforts to empower their employees with constant investment into enhancing the employee experience. 

 

How is RSM tackling gender challenges in the accounting industry?

 

We are proud to report that RSM in South Florida is leading the charge and breaking the proverbial glass ceiling with 30 percent female ownership in an industry where the average is approximately 16 percent. RSM places a high emphasis on coaching and mentoring our high-performing women to retain and accelerate them into leadership positions. We also want to increase diversity and inclusion more broadly throughout our organization. Culture, diversity and inclusion are strategic business drivers and have shown to be great catalysts for business growth. Our mission is to be the first choice adviser to middle market companies globally and to do that, we need a workforce that is as diverse as our clientele. This is the best way to truly deliver the power of being understood. 

 

How is RSM finding the talent it needs, given the county’s low unemployment rate?

 

We have found that our focus on culture, diversity and inclusion has also differentiated us from other firms when it comes to recruiting and retaining talent. RSM places a great deal of emphasis on delivering the power of being understood, not only to our clients but to our people as well. Through the RSM talent experience, we empower each other to enhance our value and build successful careers. We build rich, enduring relationships based on a profound understanding of each other, our goals and our aspirations. Because when we feel truly understood, we are empowered to move forward with confidence, both personally and professionally. RSM is constantly enhancing the talent experience by investing in and implementing new training, tools and resources. Specifically related to recruiting, we align with the State’s top universities to bring students into our internship programs. We also drive recruitment through diverse professional organizations, such as the National Association of Black Accountants (NABA) and the Association of Latino Professionals for America (ALPFA), which aligns with our goals of building a diverse workforce for the future.

 

In what areas is RSM seeing the greatest demand for its services?

 

As a specialist in transfer pricing, I have seen an uptick in services that affect multinational, middle market organizations. From tax reform to changes across the broader global tax landscape, there has been a significant impact on international companies. We have also seen a rise in enquiries from investors on the tax programs related to Opportunity Zones. On the assurance side, there have been increased activities related to implementing the new revenue recognition and lease accounting standards for public, private and government entities. Our financial advisory services practice has also been growing, as the economic outlook makes it a favorable market for buying and selling businesses. As for RSM’s consulting services, our cybersecurity, blockchain, infrastructure, managed IT services, and risk consulting practices are all growing at a rapid pace.

 

What is enticing investors into the Broward market?

 

South Florida is an enticing climate for a multitude of reasons, including the federal tax changes and incentives that have fostered an interest from our clients determined to keep jobs and intellectual property in the United States. One of the usual challenges for inbound foreign investors is understanding the complexity of U.S. tax law, because of the different layers of taxation at the federal, state and local levels. Fortunately, for businesses seeking relocation into Broward County, those layers are not quite as complex as in other parts of the country, which makes Broward a favorable option. From an economic perspective, Broward has a high quality of life, strong economic growth, and is dedicated to investing in infrastructure and the community, all of which are great reasons for businesses to invest in our community. 

 

To learn more about our interviewee, visit: 

 

https://rsmus.com/

Spotlight On: Jesse Flowers, Community President, CenterState Bank

Spotlight On: Jesse Flowers, Community President, CenterState Bank

By: Max Crampton-Thomas

 

2 minute read November 2019 — Staying competitive and emerging as a leader in a crowded banking field takes smart growth strategies, remaining cognizant of trends in the industry and an ever-increasing focus on the technological wants and needs of customers. Jesse Flowers, the community president for CenterState Bank, spoke to Invest: about how his bank is ensuring continued growth into the future.  

How does your bank ensure continued and sustainable growth? 

 

We continue to grow, hire more people and expand our client base. We are always looking for acquisitions and good partnerships. We have acquired five banks over the last six years in South Florida, and all of them have been a strong fit. We want to make sure that our culture fits with the companies we acquire. We still run like a small bank, and all our decisions are made locally.

 

We stick to our fundamentals. We make sure that the loans that we provide are to good, qualified borrowers that can withstand a recession. On the commercial lending side, most of the demand is driven by real estate. We are paying close attention to where we are in the real estate cycle because Florida is mostly driven by tourism and real estate.

 

What is a particular trend you are keeping a close eye on? 

 

Banking is always changing. One of the trends that we have seen over the last five years is people using alternative lenders. Whether it be hedge funds, internet lenders or hard-equity lenders, a high number of those lenders have stepped into the market, more than they used to in the past. That might continue to be a trend because they are often able to be more flexible on the terms and conditions of their loans due to less regulation.

 

How does CenterState Bank remain client-focused in a rapidly changing banking environment? 

 

People are more focused on technology. We have to focus on the services that people want, like better and easier online technology. Those are the services that are expanding with people using phone and online banking. CenterState has invested in technology over the last several years because we know how important it is. Now, with open source platforms, access is getting cheaper, and we have hired in-house programming professionals to develop software for us.

 

To learn more about our interviewee, visit:

https://www.centerstatebank.com/

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