Florida Banking September 2021

KUDOS

Cypress Trust Company Expands by Chartering New Bank, Receives Full Federal Approval

P alm Beach-based Cypress Trust Company, a 25-year-old independent boutique fiduciary, has received full regulatory approval from the Federal Reserve to convert to a bank and trust under the name Cypress Bank & Trust. Its new suite of banking services will launch at four of its existing trust offices across the state of Florida in Palm Beach, Melbourne, Vero Beach and Jacksonville. Cypress will continue to deliver trust services as it has for the last 25 years. But in its milestone year, Cypress will expand to provide a full suite of banking services. “It’s rare that a bank is chartered out of an existing Trust company, and it gives us a significant advantage in longevity, reputation in the market and a preexisting client base,” said Dana Kilborne, president and CEO of Cypress. “We plan to leverage our unique position in the Florida market to best serve our clients

and shareholders. In business for more than two decades, we have a strong financial history, with deep connections to the local communities.” Kilborne’s career spans 30 years leading community banks and holding companies as president, CEO and director. Additionally, Kilborne is a former director of the Federal

Reserve Bank Board of Atlanta-Jacksonville Branch. Kilborne and Cypress Chief Financial Officer John Marino are no strangers to community banking, with a 20-year history establishing and launching start-up banks together. Dana Kilborne

Lee County Banker Joins 2021 Python Challenge E dison National Bank CEO and committed environmentalist Geoff Roepstorff volunteered in the 2021 Python Challenge Event to hunt “As part of my focus on restoring the Everglades, I’ve charged FWC with dedicating more resources and taking innovative approaches to removing invasive Burmese pythons, which can grow to 20 feet in length, weigh up to 200 pounds and cause major damage to the ecosystem,” DeSantis said.

invasive pythons deep in the Everglades. He assisted South Florida Water Management District (SFWMD) Project Manager Mike Kirkland at the check-in station for his fellow python hunters participating in the event. The 2021 Python Challenge was held from July 9-18. Its goal is to remove invasive Burmese pythons from Florida’s ecosystem. During the challenge, the Burmese pythons must be removed and killed from participating areas to be considered as valid entries in the competition. Competitors can earn prizes ranging up to a $10,000 Grand Prize. “It’s great to see my fellow hunters participating in this competition, but there’s a serious purpose that brings me to the Python Challenge,” said Roepstorff. “As a lifelong Floridian, I want to help my state government to exercise stewardship over the Everglades and the native species in that habitat. This python elimination program is essential for protecting the native wildlife we cherish.” Governor Ron DeSantis endorsed the program and encouraged those who want to take an active role in conservation to register.

Geoff Roepstorff (left) mans the July 17 Challenge check-in with SFWMD Project Manager Mike Kirkland.

22 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING