Florida Banking April/May 2026

Florida’s recent experience suggests disciplined, community-driven organizers remain central to the state’s banking future. The FBA has also taken an active role in advocating for policies supporting responsible de novo formation. In recent years, the FBA convened a De Novo Banking Task Force composed of bankers, legal advisors and industry experts to examine the regulatory and structural barriers that continue to discourage new bank formation. The group has focused on identifying reforms that would streamline what many organizers describe as a lengthy and bureaucratic chartering process while preserving the strong safety and soundness standards that underpin the banking system. Florida bankers have also taken their message to Washington. In May 2025, Mary Usategui and Keith Costello, Chairman & CEO of Locality Bank, testified before the U.S. House Committee on Financial Services Subcommittee on Financial Institutions during a hearing titled “Enhancing Competition: Shaping the Future of Bank Mergers and De Novo Formation.” Their testimony highlighted the vital role community banks play in supporting small businesses and local economies, while outlining the regulatory hurdles that make launching a new bank increasingly difficult. Their message resonated with policymakers. In the months following the hearing, the U.S. House of Representatives advanced legislation aimed at strengthening community banking and encouraging new bank formation. Industry leaders believe these efforts represent an important step toward restoring a healthier pipeline of new institutions nationwide. Hughes believes the re-emergence of de novo banking represents one of the most important developments for the long-term health of Florida’s banking industry. “The entrepreneurs and investors behind these institutions deserve recognition for navigating a demanding regulatory and economic environment to bring new banks to life.” Building the Next Generation of Community Banks In an era often defined by mergers and scale, launching a new bank is an act of conviction. It requires capital, credibility and extraordinary patience, along with regulatory fluency, operational precision and strategic discipline. Most of all, it requires belief that communities still value local ownership, personal relationships and responsive decision-making. Over the past decade, Florida’s de novo leaders have not only created new institutions. They have reaffirmed the enduring relevance of community banking in the

Sunshine State. In doing so, they are helping ensure that the next generation of community banks will continue to serve Florida’s businesses, families and communities for decades to come.

11 and Growing….

The FBA congratulates the teams that have opened de novo banks across Florida over the past 10 years. BankMiami, Coral Gables March 17, 2025 Climate First Bank, St. Petersburg June 1, 2021 Cypress Bank & Trust, Melbourne Converted from a non-depository trust Aug. 16, 2021 Evermore Bank, Fort Lauderdale Dec. 15, 2022 Gala Bank, Ocala Dec. 30, 2024 Gulf Atlantic Bank, Key West April 13, 2020 Gulf Coast Business Bank, Fort Myers June 6, 2022 Gulfside Bank, Sarasota Nov. 13, 2018 Locality Bank, Fort Lauderdale Jan. 12, 2022 Waterfall Bank, Clearwater Sept. 20, 2021 Winter Park National Bank, Winter Park Aug. 1, 2017 Thank you to all bankers who have worked and are working to grow Florida’s banking community! Echelon Bank I/O, Clearwater TBD 2026 New South Bank I/O, Tampa Application date TBD Portrait Bank I/O, Winter Park TBD 2026

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