Coral Gables-Based Bank Expands to Tampa and Jacksonville Markets
Professional Bank will open two offices as it expands outside its original South Florida location
Along with opening in the middle of the Great Recession and surviving, expanding past its South Florida roots represents another significant achievement for Professional Bank. In addition to locations in Aventura, Fort Lauderdale, Boca Raton, Dadeland and Palm Beach Gardens, the community bank announced it will open loan production offices in the Tampa/St. Petersburg and Jacksonville markets to capitalize on recent economic growth in those areas. Leases for the new properties are expected to be finalized in the coming weeks.
“We have been interested in entering both of these markets for some time but wanted to wait for the right opportunity,” says Daniel R. Sheehan (pictured, top), Chairman and CEO of Professional Bank and Professional Holding Corp. (NASDAQ:PFHD). “With the pandemic largely behind us, and the right team in place, we are excited about our prospects in both Tampa and Jacksonville.”
The Coral Gables-based community bank completed its initial capital raising in the summer of 2008 and then opened its first branch on Sept. 8. The corporation recently opened new branches in Boca Raton and the Dadeland area of Kendall and has launched loan production offices in Doral and Wellington. Its footprint outside of Florida includes a loan production office in New England and a digital innovation center in Cleveland. The financial institution went public in February 2020 before merging with Coral Gables-based Marquis Bank to continue its expansion in the tri-county area.
To lead the growth into northern and central Florida, Professional Bank chose banking veteran Darren Lydting (pictured, left) as the Executive Vice President/Regional Market Executive.
“I couldn’t be more excited to be part of the Professional Bank team and help it accomplish its growth objectives outside of South Florida,” Lydting says. “This is a bank that really gets it. Everything they do is focused on building strong relationships with clients and helping them get what they need. I believe this will be a welcome message to businesses and individuals in Tampa Bay and Jacksonville.”