CRESTVIEW — First NBC Bank plans to grow the former First National Bank of Crestview's customer base and expand to South Okaloosa County, according to Ashton J. Ryan Jr., the New Orleans-based institution's president and CEO.
And First NBC Bank — which purchased all deposit accounts at First National after it failed Jan. 16 — has set a number of goals to boost business.
NEW OWNER'S IMPACT
Here's what you can expect from the new bank:
• More assets. First NBC, which has approximately $3.7 billion in assets, offers the failed Crestview bank — which had approximately $70 million in assets — more marketplace leverage, officials said.
“We’ll keep the existing staff in place, and let them hit the streets with a little more capital at their back,” Ryan said.
• More services. “We have a lot of products and services the small bank couldn’t offer,” Ryan said. First NBC offers trust, custodial and investment services, along with a range of loan options, in addition to checking and savings accounts, according to its website.
• Wider reach. Offering a full range of banking services should attract more Crestview area customers, Ryan said. “We’d like to see (the staff) turn that 20 percent market share into a larger number as they bring back their old customers," he said.
Acquiring the Crestview bank also positions First NBC to expand to South Okaloosa County, Ryan said.
SMOOTH TRANSITION
Other than a name change and setting additional goals, it's been business as usual for First National's customers and employees.
Customers said they found little has changed since First NBC took over operations.
“Nothing seemed different but the sign,” Melanie Edwards said Wednesday morning. “I was glad to see the same faces inside. I hope it stays this way.”
Edwards said she had no intention of moving her account to another bank.
“Why move?” she said. “Everything’s still right here. My money didn’t go anywhere.”
Although full conversion to First NBC’s banking software won’t be complete until spring, First NBC and First National were using related versions of the same software, which facilitated the process.
“Everything has gone so smoothly,” former First National Bank of Crestview Vice President Pennie Hartzog said.
Another bank official, who asked not to be identified, said everyone was “so excited” to have a new owner with more resources, and that the changeover's ease relieved employees.
EARLIER PLANS
First NBC initially contemplated moving into Northwest Florida as early as 2011, Ryan said.
“That was one of our strategic objectives,” he said.
First NBC was already on the FDIC’s list of preferred institutions, so it was able to step right in when First National Bank of Crestview failed.
The Crestview bank's failure had no effect on its purchase by First Commerce Credit Union of Tallahassee. Though talks started last March, the credit union withdrew from the purchase in November.
“We determined in the process that it was not in the best interests of our membership,” Kim Howes, the credit union's director of marketing, said. “But we certainly wish them the best of luck in their transition.”
COMMUNITY INVOLVEMENT
From its early days on Main Street, First National Bank of Crestview had been a civic, education and business partner.
Recent involvement included sponsorship of Okaloosa Saves, a County Extension program that encourages children to start savings accounts. The bank also annually sponsored the Crestview Area Chamber of Commerce’s December breakfast meeting, at which bank officials traditionally turned its half-hour promotional opportunity over to the Crestview High School chorus for a Christmas concert.
The community can expect that same level of support from the bank’s new owners, Ryan said.
“Our philosophy is we don’t spend huge amounts on advertising but we are very supportive of the community,” he said. “I think you can find us doing things that have been traditional but we will bring more things.
"We are a heavy player in civic and charitable activities. That’s what a community bank should do.”
BUSINESS AS USUAL
It’s business as usual at the former First National Bank of Crestview’s main and branch offices, according to the Federal Deposit Insurance Corporation’s website.
“The automated teller machines and online service will remain available,” the website states. “The bank will maintain its regular business hours, and you may continue to use the services to which you previously had access, such as safe deposit boxes, night deposit boxes, wire services, etc.
“Your checks will be processed as usual. All outstanding checks will be paid against your available balance(s) as if no change had occurred. Your new bank will contact you soon regarding any changes in the terms of your account.
“If you have a problem with a merchant refusing to accept your check, please contact your branch office. An account representative will clear up any confusion about the validity of your checks.”
Email News Bulletin Staff Writer Brian Hughes, follow him on Twitter or call 850-682-6524.
This article originally appeared on Crestview News Bulletin: First National Bank of Crestview's new owners plan to expand services