Florida Community Bank
| Company type | Subsidiary (before acquisition) |
|---|---|
| Industry | Banking |
| Founded | 1923 |
| Headquarters | Weston, Florida , United States |
Area served | Florida |
| Products | Financial services |
| Parent | Bond Street Holdings Inc. (2010–2019), Synovus Financial (2019–) |
Florida Community Bank (FCB), headquartered in Weston, Florida, operated as a state-based financial institution offering services to both individual consumers and businesses throughout Florida. Originally founded in 1923 as the first bank in Collier County, it was purchased in January 2010 by Bond Street Holdings Inc., a Weston-based holding company with capital exceeding $740 million. This acquisition facilitated FCB's expansion across the entire state.
The bank expanded its footprint by acquiring failed banks and through organic growth, increasing its branch locations to cover three of Florida’s four major Metropolitan Statistical Areas: Miami, Orlando, and West Palm Beach. By 2017, FCB's assets had grown to $9 billion, positioning it as the fourth-largest independent bank headquartered in Florida with a network of 54 branches.
Alongside FCB, Bond Street Holdings acquired eight additional Florida banks, including Premier American Bank, Peninsula Bank, Sunshine State Community Bank, First National Bank of Central Florida, Cortez Community Bank, Coastal Bank, First Peoples Bank, and Great Florida Bank.
In a major regional banking consolidation during January 2019, Synovus Financial acquired Florida Community Bank for $2.9 billion.
History
Towards the end of 2009, Bond Street Holdings Inc. raised $440 million via a private placement and initiated its acquisition strategy in January 2010 by purchasing Premier American Bank in Miami and Florida Community Bank in Immokalee. Later that year, the holding company secured another $300 million through a second private placement, with approximately half contributed by existing investors. Subsequent acquisitions included Peninsula Bank in Englewood (June 2010); Sunshine State Community Bank in Port Orange (February 2011); First National Bank of Central Florida in Winter Park and Cortez Community Bank in Brooksville (April 2011); Coastal Bank in Cocoa Beach (May 2011); and First Peoples Bank in Port St. Lucie (July 2011). In July 2011, the institution rebranded from Premier American Bank to Florida Community Bank, capitalizing on the historic 1923 name and its extensive customer base of 25,000 households to ensure continuity.
In 2012, the bank moved its headquarters to Weston, Florida to focus on integration and fostering organic growth. Early in 2013, FCB pursued an acquisition of Atlantic Coast Financial Corporation and its subsidiary Atlantic Coast Bank; however, shareholders rejected this proposal in June 2013. Subsequently, in July 2013, Florida Community Bank announced plans to acquire the distressed Great Florida Bank, finalizing this transaction in January 2014.