The Latest | News > News, Events and Press Releases

The Latest | News
Press, news, and events related to First National Bank of Central Florida | Contact FNB

NOTICE RE: FULL FDIC COVERAGE
TRANSACTION ACCOUNT GUARANTEE PROGRAM

First National Bank of Central Florida is participating in the Federal Deposit Insurance Corporation’s (FDIC) Transaction Account Guarantee Program (TAGP). Under this program, all non-interest-bearing transaction accounts (unlimited check writing accounts) are fully insured by the FDIC for the entire amount in the account. In addition, under this program IOTA’s are fully insured and NOW Accounts (unlimited check writing accounts for personal and business) that earn a .50% interest rate or less are fully insured. This program is scheduled to expire on December 31, 2009.

The Orlando Business Journal's profile of First National Bank of Central Florida's CEO and chairwoman, Susma Patel
by Christopher Boyd

Susma Patel came to the United States from England in 2001 to join First National Bank of Central Florida , a community bank in which her family invested in the late 1990s.

When Patel arrived, the bank was emerging from a string of problems that included the conviction and imprisonment of a former president.

Patel, who became the bank's owner, held a number of positions in the institution. This fall, she became its CEO, taking responsibility for daily operations.

Since Patel joined the bank, it has abandoned a growth strategy based on opening branches in supermarkets. Today, it operates independent branch offices at locations in metro Orlando , with its headquarters in Winter Park .

Personal
Age: 33
Hometown: London , England
Education: Law degree from the University of London . She practiced law for two years in London .
Family: Single
First job: Clerk in a London law firm
Little-known fact about yourself: I was a majorette in secondary school.

Business
Guiding principle: I trust my instincts. Even if everything lines up, but my gut tells me that it's not right, I'll decide not [to do it].
Community banks vs. larger institutions: Community bankers are more passionate about the relationships they have developed over the years. We are highly accountable to the community and to the customer — more than larger banks are. We can be a little more tailored. We can come up with ideas and implement them quickly.
The bank's five-year plan: The strategic plans previously were to get to a billion dollars. Now it all depends on the economy. You have to set aside money for loan losses, particularly in this time of tremendous change.
Important lesson learned about banking: It is all about the depth and breadth of relationship with a customer. That is critical for weathering this financial storm with any individual customer.

Judgment calls
Most critical decision made: Moving away from the in-store branches. We had 28 locations all over Central Florida . The kind of customer we were dealing with before is the sort who shops at a Winn-Dixie. We were more transactionally driven than relationship driven.
On any loan-making regrets: I don't think you ever regret a loan. You make the best decision you can based on the information you have at a particular time. The environment changes, and you can't anticipate everything. You try to consider all the risks and the worst-case scenarios. If you make a mistake, you learn from it and make sure it never happens again.

Et cetera
Favorite book: Straight from the Gut by Jack Welch
Favorite vacation spot: I travel extensively. I would very much like to go to Brazil .
Hobbies: Travel. I also enjoy yoga on the weekends, and I enjoy watersports and skiing.
Favorite holiday: Christmas is an absolute favorite. In December in London , it's just one big party.

First National Bank of Central Florida Hosting Canned Food Drive in an effort to assist the Second Harvest Food Bank
Winter Park, Florida

First National Bank of Central Florida will host a canned food drive to help replenish the depleted shelves for the Second Harvest Food Bank of Central Florida . The bank will collect canned goods and non-perishable items through December 18th at each of its six offices. Second Harvest is a commendable private nonprofit organization that collects and distributes donated food to more than 450 nonprofit partner agencies in six Central Florida counties.

Additionally, Executive Vice President and Director of Marketing and Business Development, Isa Cusack, announced in lieu of holiday cards to clients, the bank will direct its resources to help Central Florida families in need by making a contribution on behalf of its clients to the Second Harvest Food Bank. “Now more than ever our assistance is needed to ensure that those being negatively affected by the economic downturn and high food prices have access to the healthy food they need to feed themselves and their families,” noted Cusack.

First National Bank of Central of Florida is a locally owned community bank with six offices in Orange and Seminole Counties . First National Bank of Central Florida had assets exceeding $ 457 million and $42.9 million in total equity at September 30, 2008.

Honored for Financial Services: Susma Patel
The IndUS Business Journal

[The IndUS Business Journal published a 2008 Women in Business Award to honor groundbreaking and trendsetting women who are hallmarks of the influential South Asian Business Community Leaders in the United States . The main goal of the award was to honor South Asian women not only for their contribution to the South Asian business community in the United States , but also to the nation's overall business community and for setting a tremendous example of women's success in the workplace.]

Susma Patel is chairwoman and chief executive officer of First National Bank of Central Florida.

First National Bank of Central Florida is a locally owned community bank with six offices in Florida. The bank’s corporate headquarters is in Winter Park. The bank has approximate assets of $500 million, a $400 million loan portfolio and $400 million in deposits.

Patel has served as chairman of the bank for about two years and became CEO in July following the retirement of Charles W. Hall, who led the bank since October 2000.

First National Bank of Central Florida was founded in 1985 as a full-service commercial bank in Longwood. In 1999, the bank relocated its headquarters to downtown Winter Park. The bank’s income property financing programs include construction, acquisition, rehabilitation and refinance transactions for retail, office, and industrial properties for owner users. Additionally, the bank extends revolving lines of credit, equipment and vehicle loans, and letters of credit to qualified businesses. Its consumer programs include automobile, boat, airplane, CD and securities secured, home equity, and Visa/MasterCard.

The bank has a stated commitment to provide its customers with cutting-edge banking technology. This includes remote deposit capture, e-mail statements and CD ROM statements, Treasury Services, Positive Pay, Internet Banking and Bill Pay.

In May, First National Bank of Central Florida opened its newest branch in Apoka.

This year, Patel led the bank in a “green” campaign by offering business casual days the entire month of August for all of its employees and ensuring the air conditioning at each of its branch locations and departments throughout the organization are turned up two degrees higher than normal to conserve energy. The bank also began using scanners to create electronic copies of documents and a secure e-mail system to reduce paper consumption.

Patel, who is from Greenwich, England, came to the United States in 2001. Her background is in law and she was a practicing lawyer with Clintons, an entertainment and media law firm in London prior to joining First National Bank of Central Florida.

In the late 1990s, Patel became a majority shareholder of First Bancshares Inc., which is the parent company of First National Bank of Central Florida. She served as a director and then chairwoman of that holding company before assuming her role with the bank.

First National Bank of Central Florida to Host Blood Drive at Corporate Office in Winter Park
Winter Park, Florida

First National Bank of Central Florida will continue its efforts to increase awareness of the importance of blood donations with a fall kick-off blood drive. The blood drive will be held Friday, November 14 th from 10 a.m. to 4:00 p.m. at the bank's corporate office parking lot located at 369 North New York Ave in Winter Park . The Florida Blood Center is in need of blood to benefit cancer patients who are in daily need of treatment, burn victims who need plasma, trauma victims that need red blood transfusions and routine surgeries. The community is urged to participate in this worthy cause. Donors can be as young as 16 and should weigh at least 102 pounds. There is no upper age limit.

Donors will receive 50% off a 1 day/2 park or 2 day/2 park admission ticket to Universal Orlando, free discount coupon for Papa John's breadsticks, buy one, get one free admission to Gatorland, Gaylord Palms ICE 50% discount coupon and club red HERO enrollment (after two donations, receive a $10 Darden Gift Card in the mail). Additionally, every donor will automatically be entered to win a 3 day/2 night stay to live like a rock star at Hard Rock Hotel at Universal Orlando and enjoy dinner for two in The Kitchen.

Holding Strong in Trying Times
Winter Park / Maitland Observer
Oct. 9, 2008

By Jenny Andreasson

Observer Staff While many national banks are sliding and asking for help, Central Florida's community banks seem to have a firm grip on the local market.

The $700 billion bailout bill passed by Congress last week will benefit, for the most part, larger banks. The rescue allows the government to buy bad mortgage-related securities and other assets from troubled financial institutions in the hopes of freeing up the clogged credit market.

Three of Central Florida's community banks say they don't need help because they didn't get involved with toxic loans in the first place.

"Community banks as a whole have been able to stay away from the riskier type of loans and as a result haven't been affected," said Isa Cusack, executive vice president of Winter Park-based First National Bank of Central Florida.

Ray Colado, president of Winter Park-based Commerce National Bank, said his firm has eluded the crisis by sticking to the basics and focusing on lending in the community. "We're not involved in the type of lending that gave you higher yields or more risk," such as sub-prime mortgages, he said.

Even though local banks aren't embroiled in the credit crunch, they stand to gain assets if the economy improves as a result of the bailout, said Sean Snaith, director of the Institute for Economic Competitiveness at the University of Central Florida.

Included in the bailout measure is a temporary increase in the amount of money the FDIC insures, from $100,000 to $250,000, regardless of the size of the bank.

"That's something that was probably overdue," Snaith said. "It's been quite a few years since that hundred thousand was established."

The insurance cap increase, set to expire in December 2009, is geared more toward small banks that fear their customers — individuals or small businesses — will abandon them for bigger banks, which are considered less likely to collapse.

"It may help to ease some depositors' fears," Snaith said.

There may be intangible benefits felt by community banks as well.

Maitland-based First Colony Bank President Bruce May said people are likely to change the way they bank just as they are likely to think differently about investing in the real estate market.

"As some of the ills come out about the problems with larger banks, people will be more careful, period, on where they bank and do a little more homework," he said, thus highlighting the viability of community banks.

"We will be a very appealing alternative for someone to do business with," he added.

First National Bank of Central Florida Continues Support of Hope and Help Center of Central Florida
Winter Park, Florida - September, 2008

First National Bank of Central Florida continues their support of Hope and Help Center of Central Florida by sponsoring the organization's 19th annual Headdress Ball. The bank and its associates have contributed over $5,000 so far in 2008 for the organization through participation in various fundraising events. Additionally, Ted Bradford, Senior Vice President and Commercial Lender at First National Bank of Central Florida, serves as the President of the Board for Hope and Help Center and several bank officers regularly volunteer with the organization.

First National Bank of Central Florida Executive Management Announces “Green” Initiatives
Winter Park, Florida - August, 2008

First National Bank of Central Florida 's Chairwoman and Chief Executive Officer, Susma Patel , announced the bank will run a “green” campaign for the months of August, September and October. “I am very passionate about preserving the environment. The “green” initiative is very near and dear to my heart,” noted Patel.

In an effort to be “green”, the bank will offer business casual days the entire month of August for all of its employees and will ensure the air conditioning at each of its seven branch locations and departments throughout the organization are turned up two degrees higher than normal to conserve energy. First National Bank of Central Florida has also recently begun using scanners to create electronic copies of documents to reduce paper consumption. A secure email system to communicate with clients is also being utilized to decrease the amount of documentation sent via facsimile and postal mail.

Additionally, clients will be encouraged to bank envirosponsibly. Clients will be eligible to get green for going green. Green banking products such as: e-mail and CD ROM statements, direct deposit, internet banking with bill pay and Visa debit cards will be promoted to help reduce paper usage. When a client enrolls in a green product, they will be entered in a drawing to win one of 4 cash prizes up to $200. They will also receive a reusable grocery bag with the bank's logo on it, which is the equivalent of four plastic bags.

First National Bank of Central of Florida is a locally owned community bank with seven offices in Orange and Seminole Counties . First National Bank of Central Florida had assets exceeding $486.7 million and $40.9 million in total equity at June 30, 2008. For the latest information about First National Bank of Central Florida , visit our website at www.believeinyourbank.com .

First National Bank of Central Florida Supports Foundation for Foster Children
Winter Park, Florida - July 17, 2008

First National Bank of Central Florida recently partnered with The Foundation for Foster Children in support of their “Be Cool” Summer Kickoff program. First National and its associates donated $650 along with several “Cool Kits” containing summer fun essentials for kids. For additional information about The Foundation for Foster Children please visit www.foundationforfosterchildren.org.

First National Bank of Central Florida President and CEO Announces Retirement
Winter Park, Florida - July 2, 2008

Charles W. Hall, First National Bank of Central Florida President and Chief Executive Officer, announced his plans to retire effective immediately. His retirement concludes a banking career which began in 1972.

Hall has been President and CEO of First National Bank of Central Florida since October 2000. He joined First National Bank of Central Florida March of 1999 as Senior Vice President and Chief Financial Officer. “I am most thankful for the opportunity given to me over eight years ago to lead First National as its' CEO, and I am proud of what we have accomplished during that period. First National is blessed with a strong and dedicated team of bankers, and is well positioned for the future,” noted Hall.

Susma Patel has been appointed by First National Board of Directors as Chairwoman and Chief Executive Officer. “With Charlie's announcement of his retirement, we first want to extend our heart felt thanks and best wishes to him for all he has accomplished for the bank. When Charlie took over as CEO, First National was $90 million in assets and was heavily invested in the concept of in-store branches. Over the last 8 years First National has grown to almost $465 million in assets and has developed a staff second to none in the delivery of community banking services.” Patel said. Ms. Patel was educated in the United Kingdom and is qualified as an Attorney. She is a resident of Windermere and is the majority shareholder of First Bancshares Inc which is the parent company of the bank. She is also an active member of Central Florida Women's League.

Additionally, Darwin P. Kelly Jr. has been appointed President, Chief Operating Officer.

Mr. Kelly joined First National as a board member in September 2003 and served on the board until 2007 when he joined First National as Executive Vice President/ Chief Operating Officer. Mr. Kelly is a graduate of both the University of Alabama and Rollins College with over twenty nine years of banking experience including being named CEO of several banks. Mr. Kelly is a long time resident of Winter Park and is actively involved with the local rotary.

First National had assets exceeding $467.8 million and $41.4 million in total equity at May 31, 2008.

First National Bank of Central Florida Welcomes Emmett J. Foster
Winter Park, FL - June 2008

First National Bank of Central Florida is pleased to announce Emmett J. Foster has joined its Board of Directors. Mr. Foster has over thirty-five years of executive management experience in banking and business consulting, including positions such as: Chairman of the Board, President and Chief Executive Officer. He has served on the board of more than twenty banks.

Mr. Foster serves as the Chairman of Bankers Credit Corporation and has been the Chairman of Foster Investments since 1984. Mr. Foster holds a BS degree in Economics from Marshall University . He is also a graduate of the School of Banking at the University of Virginia and the Advanced Program at Columbia University .

First National Bank of Central Florida to Celebrate Apopka Branch Opening
Apopka, FL - June 2008

Winter Park, Florida- June 16, 2008- First National Bank of Central Florida will celebrate the opening of its newest full-service branch in Apopka on Wednesday, June 25, 2008, beginning at 9:00 am with a ribbon cutting ceremony including Apopka dignitaries. The branch is located at 130 South Park Avenue .

The public is invited to attend this all day event. Appetizers and drinks will be served throughout the course of the day in the branch lobby. Additionally, special account promotions will be offered. Local celebrities will be on site to sign autographs along with the Apopka Police Department K9 Units to give demonstrations of their talents.

For more information on this event, please contact the Apopka Branch at 407-814-0491.

Daniel F. Williams Graduates LSU Graduate School of Banking
Winter Park, FL - June 2008

First National Bank of Central Florida announces the graduation of Daniel F. Williams, Executive Vice President / Senior Lender, from the Graduate School of Banking at Louisiana State University . Founded in 1948, the three year program consists of classroom instruction and case study projects which mix theoretical analysis and practical applications. The curriculum consists of a full range of disciplines entailed in managing a bank and is instructed by bank chief executive officers, university professors, regulators and consultants. Congratulations to Mr. Williams and his fellow graduates from the LSU Graduate School of Banking Class of 2008.

First National Bank of Central Florida Opens New Branch Office in Apopka
Apopka, FL - May 2008

Winter Park , Florida-May 19, 2008-First National Bank of Central Florida will open its newest full service branch in Apopka, Charles W. Hall announced. The new branch will be located at 130 South Park Avenue. “ For several years, First National Bank of Central Florida has looked forward to having a presence in Apopka. The citizens and businesses in that market can look forward to First National providing a level of service second to none. We believe the dynamic Apopka market will complement our existing branch network very nicely and will bring us closer to becoming Central Florida 's premier community bank.” Hall said.

Tom Brown will be the Business Development Officer for the new branch. Tom has been a resident of Apopka for over 15 years. He has 17 years of banking and finance experience. Tom is currently a member of the Apopka Chamber of Commerce, Apopka Youth Sports Association, Apopka Little League, Apopka Baseball Boosters-supporter and the St. Francis of Assisi Catholic Church.

First National Bank of Central Florida opened its original branch in 1985 in Longwood. In 1999, the bank relocated its headquarters to downtown Winter Park . First National Bank has several locations throughout Seminole and Orange Counties offering high-tech banking to small and medium-sized businesses. These services include Remote Deposit Capture, Email and CD ROM statements, Treasury Services, Positive Pay, Internet Banking and Bill Pay.

First National had assets exceeding $437.5 Million and $37.1 million in total equity at December 31, 2007. For the latest information about First National Bank of Central Florida , visit our website at www.believeinyourbank.com.

Sanford Stroll/ Orlando AIDS Walk
Sanford, FL - April 2008

First National Bank of Central Florida once again participated in the “Sanford Stroll” walk to benefit the Hope and Help Center which was held on Saturday, March 29th, at the Central Florida Zoo. Our very own Moriah Larson (Asst. Branch Manager-Heathrow), Tara Day (HR Asst.), and Ashley Bickford (Retail Asst.) sat on the Sanford Stroll Committee. Ted Bradford, a commercial lender, serves as President of the Board of Directors for The Hope and Help Center . Ted stated that because of FNB's efforts Hope and Help will be able to better serve their neighbors in the Central Florida Community. Moriah Larson also was the team captain for First National and did a fabulous job of rounding people up for the walk. The center is a wonderful organization that provides testing, counseling, insurance, education and many other services for individuals and family members infected and affected by HIV and Aids.

We also had two “Denim Days” where if employees donated $5 or more they could wear jeans on a scheduled day to raise money for “The Hope and Help Center ”. The first Denim Day raised $325 and the money went to the “Sanford Stroll”. The second Denim Day raised $230 and the money went to the “AIDS Walk Orlando”, which the Hope and Help Center also organizes.

At this year's Sanford Stroll First National Bank of Central Florida was awarded “Team who raised the Most Money”, which was a total of $2838.00. The overall total raised exceeded $19,000.00. All who participated had a great time and we are definitely looking forward to participating again next year!!!

First National Bank of Central Florida Opens New Branch Office in South Orlando
Winter Park, Florida- December 7, 2005

First National Bank of Central Florida will open it's newest full-service branch in South Orlando, First National President Charles W. Hall announced. The new branch will be located at 500 East Michigan Street and is part of First National's plan to increase it's presence in Central Florida.

Luisa Kwok will manage the new branch. “We are very excited about opening an office in the South Orlando Market,” Hall said. “The new Branch will provide us the presence to expand our services and move us closer to our goal of servicing the financial needs of the entire Central Florida Community.”

Locally owned, First National Bank of Central Florida opened its original branch in 1985 in Longwood. In 1999, the bank relocated its headquarters to downtown Winter Park.

First National has five full-service locations throughout Seminole and Orange Counties offering high-tech banking to small to medium sized businesses. These services include email and CD ROM statements, Treasury Services, Positive pay, Intercheck, Business Internet Banking, and Bill pay.

This Community bank had assets exceeding $ 354.8 Million, with total equity exceeding $25.5 Million at September 30, 2005.

First National Bank of Central Florida's headquarters are located at 369 North New York Avenue in Winter Park. For the latest information about First National Bank of Central Florida , visit our website at www.tomorrowsbanktoday.com.