Quarterly Update  Summer 2012

From the Desk of... Chris Peifer,
President of APF Foundation, Inc.

As a founding board member and Chairman of the Executive Loan Committee I am very pleased that Bay Cities Bank has weathered the economic storm and continues to support our client’s credit needs. Although it appears that we could be in for several more years of gradual economic improvement and better growth. The Executive Loan Committee has been very active approving requests for clients who have become disappointed and frustrated with the bureaucracy and fees of the larger national banks. Our Loan Committee is made up of local business people who have a wide range of experience and local knowledge to make timely and sound decisions. The outside members are Johnny Adcock, President of Adcock Financial Group, Christopher Lykes has held numerous positions with Lykes Bros. Inc. and is actively involved in the Tampa Bay business and philanthropic community, Frank Cisneros, President and CEO of Kawama Development Co., and Troy A. Brown, Jr., former President of RayBro/CED. In a recent meeting our committee members shared these observations:

Frank Cisneros acknowledged that this environment has forced us to look very deeply into our clients business to fully understand their performance over the past several years. While a bit more rigorous, virtually all have come to appreciate a financial partner that provides real solutions tailored to their needs. We even have several clients who have been lured to a big bank with a low rate, but quickly returned to Bay Cities recognizing the value of our expertise, stability and great service.

Johnny Adcock observed that even though we will likely have some ups and downs as the economy slowly improves; it is encouraging to see local entrepreneurs becoming more confident, optimistic and investing in their company's future. As a Preferred SBA Lender, we at Bay Cities stand ready to support the needs of our current and future clients.

Christopher Lykes notes that at Bay Cities Bank we have met what most characterize as a difficult operating environment with support of our business clients and a keen eye toward solutions to their needs and opportunities for growth. The twelve months ending March 31st saw funding of approximately $67 million in new loans. We are alert to needs of prospective new business customers and would like the opportunity to get one of our officers in front of you!

Troy Brown shared that the Director’s role is to approve all sound loans in this economy which has certainly been challenging. Integral to this process is a lending and management team that has a high level of expertise understanding and structuring complex transactions in optimal ways to meet the needs of our clients and the banks risk profile. We are keenly aware that our client’s success leads to our success.
Featured Client

Hillsborough Title

Hillsborough Title is a full service title agency, which is owned and operated by Aaron M. Davis and was founded by his mother, Gail Calhoun, in 1984. Aaron has been leading Hillsborough Title since 2001, is a native of Plant City and is currently serving on the Board of Directors for the Florida Land Title Association. Family owned and operated, Hillsborough Title takes pride in their accessibility. They keep the lines of communication open among real estate agents, attorneys, buyers, sellers and lenders throughout the Tampa Bay area.

Hillsborough Title currently has 7 locations throughout the Tampa Bay area – Plant City, Brandon, South Shore, New Tampa, Carrollwood, South Tampa and St. Petersburg. They offer title insurance, escrow, facilitation of 1031 exchange services and Settlement Services throughout the state of Florida. Hillsborough Title has selected 5 of the top title insurance providers in the nation to help assist you with commercial and real estate transactions, refinance and purchase transactions, construction closing and escrow services, insurance of owners and loan policies, modifications and endorsements, ownership and encumbrance reports and title searches and examinations. Hillsborough Title recently ranked 2nd for Title Companies based on closings in the Tampa Bay Business Journal Book of Lists.

Aaron states - “As a title insurance agency and escrow company, it is incredibly important that we know our clients funds are safe, insured, and accessible. In today’s turbulent market, we have seen banks who have withered and failed, and those who have grown and thrived. We entrust our clients funds with only top tiered financial institutions who are solid, sound, and who also understand the complex nature of our business. We have enjoyed our relationship with Bay Cities Bank, we love the fact that they are local, available, dependable, and support our local communities. Our success was formed on being a “Hometown” title agency, and we enjoy working with others who share that same formula for success. We are proud to call ourselves Bay Cities Bank clients.”

Wire Fraud Meets It’s Match

Protect your business from fraudulent wire activity with Bay Cities Bank’s latest weapon in its fraud prevention arsenal: Two-Factor Authentication Security Tokens.

Bay Cities Bank partners with RSA SecurID to offer centrally managed security tokens to process in-house wires with the highest protection. Online wires offered via our Business eBanking program have never been safer!

For more information, contact Jennifer Noel on our Treasury Management Team at 813-898-1201 or email cashmanagement@bay-cities-bank.com.

Meet Our Team

Rob Montgomery

Rob Montgomery is Vice President, Market Manager of the Bay Cities Bank South Tampa Office. He has over 25 years of experience in banking and financial services. Mr. Montgomery moved to the Tampa area after attending the University of Iowa in 1992 and in 2001 completed the Florida School of Banking at the University of Florida and has a Series 6, 63 and Class 2-12 Insurance License. Mr. Montgomery was a legacy employee of Mercantile Bank from 1992 until 2001 when the bank sold and worked in financial services with MetLife for 4 years prior to joining Bay Cities Bank in 2006.

Mr. Montgomery is currently a member of the Tampa Hyde Park Rotary Club. As President of the club in 2008-2009, he helped establish the club’s 501(c) 3 foundation. In 2011 Mr. Montgomery was elected and currently serves as the Assistant District Governor for District 6890 where he facilitates 4 clubs in the immediate area.

Derek Rancourt

Derek Rancourt, Vice President, Commercial Lending joined Bay Cities Bank on May 17, 2012. He was previously with Valrico State Bank as Lender and spent three years at Raymond James in Equity Research, followed by several years working for a Tampa based investment bank and private equity group. Mr. Rancourt began his commercial lending career at AmSouth Bank in 2003 before joining Colonial Bank in 2007. Mr. Rancourt received a Bachelors Degree in Finance from Stetson University and his MBA from University of Tampa and actively supports Stetson and UT alumni. He will be a member of the UT Board of Fellows this coming fall. Mr. Rancourt and his wife actively support the Race for the Cure through Channel 10’s sponsorship where his wife is an Executive Producer at WTSP. The couple has three children and enjoy working and living in the South Tampa community.

West Shore - Main Office
4301 W Boy Scout Blvd., Suite 150
Tampa, FL 33607

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