Florida Banking July 2022

2018. The bank’s primary niche is providing financial services to small- to mid-size businesses and meeting the personal banking needs of the owners of those companies. “Banks have the potential to be cornerstone businesses of a community; when a community

Intracoastal Bank, Continued from page 9

are called “associates,” which Bruce and Ryan believe is a more appropriate term to describe their staff’s status as partners and owners. “We have 44 associates who are partners through our employee stock ownership plan. This has instilled

an ownership-thinking culture where all staff — ‘associates’ — can relate to clients as businesspeople,” Bruce Page said. Ryan added, “It’s unique to come to work each day and realize that the decisions you’re making are impacting you as an owner.” Today, Intracoastal Bank has $551.6 million in assets, and every one of the bank’s associates owns a share of the business. “When there’s no employee stock ownership plan, employees don’t think about the bank’s money as their money,” said Tara Gugliara, Universal Banker.

bank leaves an area, that area suffers. We want to be one of those cornerstone employers and businesses in our local community,” Ryan Page said. This means that Intracoastal Bank has a role to play in the ongoing revamp and development of downtown Daytona Beach, particularly the historic area of town. The majority of the bank’s leadership team are long term residents of the greater Daytona Beach area who have been active in many community and civic organizations. “We get up every day and get to serve our community,

“BANKS HAVE THE POTENTIAL TO BE CORNERSTONE BUSINESSES OF A COMMUNITY… WE WANT TO BE ONE OF THOSE CORNERSTONE EMPLOYERS AND BUSINESSES IN OUR LOCAL COMMUNITY.”

- RYAN PAGE

“We’re rewarded with stock in the company, and it builds employee loyalty. It’s a really cool program.” Intracoastal Bank was recognized by the Daytona Regional Chamber as Small Business of the Year in

and our clients, and that is an honor. They trust us, and we take that commitment seriously… and it goes beyond banking. We are in it for the long haul with them,” Bruce Page said.

The Intracoastal Bank team.

10 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING