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.