We caught the imagination of top bankers who realized that most of Florida's large banks had been acquired by big out-of-state banks
Tampa, Florida (PRWEB) July 24, 2008
Changing the way Floridians do their banking, American Momentum Bank (AMB) took lease on a 12,500-square-foot space of Capital Plaza II with a full-service banking center in the Orlando building's lobby, according to a June 2007 article in the Orlando Business Journal. The AMB name is featured prominently atop the building, which is owned by Highwoods Properties, Inc.
In addition, the bank is moving forward with plans to open up to six additional sites for branch locations in Central Florida. The plan involves acquisitions and construction which will take several months, according to bank President Sam Davis II. Markets include Winter Park, Heathrow/Lake Mary and Celebration.
AMB had the largest initial capitalization, at $100 million, for a startup bank in Florida's history. This, along with its impressive board of directors, has provided quick entry into the market followed by rapid growth. The board of directors includes former U.S. Senator Connie Mack III; Phil Adams, President of Phil Adams Company; Dick Batchelor, President of Dick Batchelor Management Group; and Judy Genshaft, Ph.D., President of University of South Florida.
According to AMB President, Sam Davis, there was a need for a Florida-based large independent bank. "We caught the imagination of top bankers who realized that most of Florida's large banks had been acquired by big out-of-state banks," he said in the Orlando Business Journal article.
To protect the bank from a similar fate, AMB's only shareholders are the directors and senior officers of the bank. The bank also developed a shareholder agreement preventing the bank from ever being sold.
About American Momentum Bank
American Momentum Bank is a progressive, Florida based bank that strives to offer a deep understanding of our commercial, retail and online banking Clients’ immediate and long-range goals, unparalleled personal service, and solutions tailored to our Clients’ specific needs. Experienced, professional management and Associates, combined with flexible decision making, is essential to the success of our Clients. Our banks’ success is a result of our Clients’ and Associates’ success. For more information, please visit AmericanMomentumBank.com.
Contact: Rita J. Lowman, President, Sarasota/Bradenton; Chief Administrative Officer, American Momentum Bank; 4830 W. Kennedy Blvd., Suite 200
Tampa, FL 33609, O: 813.549-4710, F: 813.549-4810.
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