The group planning a bank in Clearwater, Fla., plans to have three branches and a loan production office in the first three years of operation.
Organizers of the planned Echelon Bank plan to raise $23 million of initial capital, which will be partially offset by about $1.4 million of organizational expenses.
Echelon “will be a full-service, relationship driven, community bank, offering both commercial and retail banking services to its customers, which are typically found in other banks in the Florida market, accompanied by a high level of technology,” the group said in its application.
The target market will include small and midsize owner-managed businesses, real estate investors and developers, professionals, and consumers. The bank will have an SBA banking division that will consider deals throughout Florida.
“There are no plans to engage in any nontraditional banking activities,” the application stated.
Robert Shaw, a former executive at Flagship Bank, would serve as president and CEO. Katya Perez, formerly at Bank of Central Florida, would serve as chief financial officer, while Edmund O’Carroll at EROC Advisors is set to become chief credit officer.