Florida Banking August/September 2025

CHAIR’S MESSAGE

RENEWING THE SPIRIT OF COMMUNITY BANKING

BY KEITH COSTELLO, FBA CHAIR

A s I begin my term as Chair of the Florida Bankers Association, I’m both humbled and energized by the opportunities ahead. Our industry is at a pivotal moment. Rapid technological change, ongoing regulatory shifts, and the continued consolidation of banks across the country are reshaping the way we serve our communities. But these challenges also present powerful opportunities – particularly for those of us who believe deeply in the value of community banking. One of my top priorities this year is to champion the return of de novo bank activity in Florida. Since the passage of Dodd-Frank, the formation of new banks has slowed to a trickle, and the supply simply hasn’t kept pace with demand. Yet we continue to see mergers and acquisitions reduce the number of institutions in our state, especially those with deep community roots. That’s why the launch of BankMiami is such a milestone – not just for Miami, but for all of us. As you’ll read in this issue’s cover story, Mary Usategui and

community banks. While the FBA represents institutions of all sizes, my heart has always been in community banking. We need to ensure our smallest banks are not disproportionately burdened by regulations that may have been designed with the largest players in mind. And as technology continues to evolve, we must help level the playing field by promoting strategic partnerships, digital innovation and smart regulatory frameworks that don’t leave smaller institutions behind. I’m also closely watching developments in open banking, stablecoins, and digital asset regulation. These emerging areas can impact us all, and community banks need to be aware of them. We must understand the larger forces shaping our industry and seek ways to provide the best client experience constantly. Ultimately, I believe in a banking landscape that is diverse, resilient and community-focused. That’s the future I’ll be working toward this year – and I look forward to doing it together, with all of you.

her team have achieved something extraordinary: founding a new, woman-led, locally owned bank in one of America’s most dynamic markets. They’ve proven that with the right vision, preparation and community support, de novo banking is not only possible – it’s essential. It’s my hope that BankMiami won’t be the exception, but the start of a new era in Florida banking. This year, I’ll be working closely with the FBA to help foster an environment where more banks like BankMiami can launch and thrive. That means advocating for a more efficient and transparent regulatory process, encouraging capital formation and ensuring that state and federal policies support, not stifle, entrepreneurship in our industry. Just as important is supporting the ongoing success of our existing

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