What First Citrus Bank’s latest board appointment says about the banking industry

Aug 21, 2017

First Citrus Bancorporation has added a financial industry veteran to its board of directors.

Robert Beard, managing member and CEO of Aegis Business Credit in Tampa, is filling a seat that was vacant on the First Citrus Bancorporation (OCT: FCIT) and First Citrus Bank board.

Beard brings expertise in accounting and auditing to the boardroom, said Jack Barrett, the bank's president and CEO.

Barrett also would like to see the all-white, all-male board become more diverse, saying it would strengthen operations at First Citrus, with $334 million in assets and five offices in Hillsborough County.

Beard founded Aegis Business Credit and the Aileron companies to diversify financial product offerings, the company's website says. Since 1998, these companies have financed more than $1.5 billion through factoring, asset-based lending and mortgage lending.

He brings 30 years of experience and a wealth of knowledge, said Michael Adcock, chairman of the First Citrus board in a news release.

"Bob's Big Eight accounting experience, auditing financial institutions, adds another level of expertise in our boardroom," Barrett said. "His entrepreneurial bent toward asset-based lending and other financial lines of business inherently brings synergies to our company as well."

Although the bank has no women on its board, about half the members of its executive staff or branch managers are women.

Women in management roles, particularly CEOs, are seen as prime board candidates, and the relatively small number of female CEOs is one reason banks have been slow to add women to their boards, Bank Director magazine found in its 2017 compensation survey. One-third of the bank leaders surveyed said no women serve on their boards, and another third said there is just one woman director on the board. Thirteen percent have three or more female directors.

"We sorely need and want multiple women and more diversity on our board. Not for window dressing purposes but because it will make us stronger!" Barrett said in an email to the Tampa Bay Business Journal. "Our board agrees that the quality of our debates and dialogue would be more meaningful if we had the insightful perspectives that can only come from diversity."

The board specifically highlights diversity, in addition to specialty knowledge areas, in recruiting new members, and Barrett said he's looking for potential candidates with local roots and leadership experience on a scale relevant to meet the bank's current and future needs.

See original article in Tampa Bay Business Journal
  • Citrus Park
  • Carrollwood
  • Kennedy
  • South Tampa
  • Brandon
  • Follow Us:
  • Visit Our Facebook Page
  • Visit Our LinkedIn Page
  • youtube-icon
First Citrus Bank Site Map Privacy Notice10824 N. Dale Mabry Hwy Tampa, FL 33618 All rights reserved | logo-ehlEqual Housing Lender, Member FDIC.

Personal Online Banking Enrollment

We've enhanced our online banking to better serve you. If you haven't already done so, please enroll in our new system.

Note: This will take you to a third-party site. Note that the third party's privacy policy and security practices may differ from our standards. We assume no responsibility nor do we control, endorse or guarantee any aspect of your use of the linked site.

Enroll Now Continue to Login
Brandon Location Map

First Citrus Bank Brandon

1314 Oakfield Drive | Brandon, FL 33511

Customer Service

813-864-0929

Loans

813-269-5414

Fax

813-864-0937

Monday - Thursday

  • Lobby: 9:00am - 4:00pm
  • Drive-Thru: 8:00am - 5:30pm

Friday

  • Lobby: 9:00am - 6:00pm
  • Drive-Thru: 8:00am - 6:00pm
Carrollwood Location Map

First Citrus Bank Carrollwood

10824 N. Dale Mabry Hwy | Tampa, FL 33618

Customer Service

813-926-2848

Loans

813-269-5414

Fax

813-269-5416

Monday - Thursday

  • Lobby: 9:00am - 4:00pm
  • Drive-Thru: 8:00am - 5:30pm

Friday

  • Lobby: 9:00am - 6:00pm
  • Drive-Thru: 8:00am - 6:00pm
Citrus Park Location Map

First Citrus Bank Citrus Park

13850 Sheldon Road | Tampa, FL 33626

Customer Service

813-926-5588

Loans

813-269-5414

Fax

813-864-1250

Monday - Thursday

  • Lobby: 9:00am - 4:00pm
  • Drive-Thru: 8:00am - 5:30pm

Friday

  • Lobby: 9:00am - 6:00pm
  • Drive-Thru: 8:00am - 6:00pm
Kennedy Location Map

First Citrus Bank Kennedy

4302 West Kennedy Blvd. | Tampa, FL 33609

Customer Service

813-422-6625

Loans

813-269-5414

Fax

813-422-6650

Monday - Thursday

  • Lobby: 9:00am - 4:00pm
  • Drive-Thru: 8:00am - 5:30pm

Friday

  • Lobby: 9:00am - 6:00pm
  • Drive-Thru: 8:00am - 6:00pm
South Tampa Location Map

First Citrus Bank South Tampa

4240 Henderson Boulevard | Tampa, FL 33629

Customer Service

813-287-0992

Loans

813-269-5414

Fax

813-287-0322

Monday - Thursday

  • Lobby: 9:00am - 4:00pm
  • Drive-Thru: 8:00am - 5:30pm

Friday

  • Lobby: 9:00am - 6:00pm
  • Drive-Thru: 8:00am - 6:00pm