In The News

With PPP winding down, SBA lenders turn to ‘enhanced’ 7(a) program

The Small Business Administration’s Paycheck Protection Program was immensely popular in 2020, so it was little surprise that its return dominated headlines when the federal government passed the Consolidated Appropriations Act late last year. The focus on PPP overshadowed several changes that were implemented to the SBA’s 7a loan program, which had been the agency’s…

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First Citrus Bank picks downtown St. Pete site for first Pinellas office

First Citrus Bank expects to open a full-service office in downtown St. Petersburg in June. The bank will open a branch, executive offices and a drive-thru at the new site, at 300 1st Ave. S. First Citrus, a $600 million commercial bank, is headquartered in Tampa. The bank initially expanded into St. Petersburg two years ago,…

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First Citrus Bank Will Expand into Pinellas County with Full-Service Bank in Downtown St. Petersburg

TAMPA, Fla., April 12, 2021 (GLOBE NEWSWIRE) — First Citrus Bank announced plans to open its first full-service bank in St. Petersburg. Located at 300 1st Ave South in the heart of downtown St. Pete, the branch, executive offices, and drive-thru are anticipated to open in June 2021. “We’re beyond excited to be deepening our…

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Small Business, Big Mission: First Citrus feels PPP’s community bank infusion

Strength | Pandemic boosts First Citrus’ profile, impact: Not only did the pandemic bring new customers to community banks, but it also gave them a chance to work closely with hundreds of small local businesses to help them ride the economic waves of the past year. First Citrus Bank was founded in Tampa in 1999…

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First Citrus Bancorporation, Inc. Raises Cash Dividend Five Consecutive Years

First Citrus Bancorporation, Inc. (OTC Markets: FCIT), the parent bank holding company for First Citrus Bank, announced that its Board of Directors declared on January 21, 2021, a $0.45 special cash dividend per share for all holders of Common, Class A Preferred, and Class B Preferred stock. On March 4, 2021, the dividend is payable…

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Covid-19 relief program drives big growth at locally owned bank

Thanks in large part to the federal Paycheck Protection Program (PPP), 2020 turned out to be a record-setting year for Tampa-based First Citrus Bank. On Monday, in a press release announcing its fourth-quarter financial results, the bank said its year-to-date earnings, at just over $4.9 million, were the highest on record. The fourth quarter was…

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First Citrus Bancorporation, Inc. Closes Fourth Quarter 2020 With Net Earnings Growth of 23% and Deposit Growth of 37%

TAMPA, FL., January 25, 2021 – First Citrus Bancorporation, Inc. (OTC Markets: FCIT), the parent bank holding company for First Citrus Bank, has released its financial results for the fourth quarter of 2020. December 31, 2020, YTD earnings were the highest on record after the fourth quarter produced the strongest quarterly earnings performance in company…

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These Tampa Bay lenders are back for another round of PPP

In the coming weeks, banks will once again start accepting applications for Paycheck Protection Program loans — and most of Tampa Bay’s biggest lenders will be back for more. The program, which is administered by the Small Business Administration, first launched in early April last year. Funded by the Coronavirus Aid, Relief and Economic Security…

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The PPP lenders that led the way in Tampa Bay

From the opening bell on April 3 to the last call on Aug. 8, more than 80,000 Tampa Bay businesses applied for a Paycheck Protection Program loan. In total, more than $6.6 billion came to the region through the loans, a decent chunk of the $31 billion that passed through Florida and of the $525…

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St. Pete Greenhouse builds a map of small businesses in the city

The Greenhouse, a small business assistance center in St. Petersburg, has launched an interactive map displaying small businesses city-wide. The map is one of several initiatives underway for St. Pete Small Business Week, a week-long event to celebrate local business growth and the diverse voices in entrepreneurship. The map shows the name of the business,…

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