C1 bank plans Doral, Miami Beach branches
With the opening of its branch at 1220 Ponce de Leon in Coral Gables this week, St. Petersburg-based C1 Bank’s 29 locations now include two in Miami-Dade County with plans to open another in Doral in the first quarter of 2015 and in the Sunset Harbor area of Miami Beach later that year.
Earlier this year, C1 Bank opened its first South Florida branch in Wynwood at 2632 N Miami Ave., which was well received and heralded for its art work and glass wall overlooking the street.
“We try to use design to help establish the passion that is C1 Bank,” CEO Trevor R. Burgess told Miami Today on Tuesday. “Our locations are modern, crisp: Wynwood has an art-gallery look and Coral Gables is streamlined and sophisticated.”
Among the 1% of fastest growing banks in the US, Mr. Burgess said C1 Bank is highly attentive to entrepreneurs, one of the reasons its expansion plans have been so successful.
“We’re very focused on how to meet the needs of business owners, and that resonates with our customers,” he said. “People are looking for speed, service and certainty and that’s what differentiates us from other banks.”
Mr. Burgess the bank’s loan totals are growing rapidly, led by business owners as Florida emerges from the recession and increasing population – 230,000 addition residents in the state last year with the same increased number, or more, projected for 2015.
“We focus [loan granting] on small and medium-sized businesses with up to $100 million in assets,” he said. “We’re one of the few banks with the sophistication to do a $30 million loan.”
C1 Bank, the 20th largest in Florida, increased its assets from $260 million at the end of 2009 to over $1.4 billion today. On Aug. 14, it went public on the New York Stock Exchange.
A partner at private equity firm Artesia Capital Management, Mr. Burgess was named the 2013 Ernst & Young Florida Entrepreneur of the Year in the category of financial services.