Business Observer Florida recently shared First Citrus Bank’s number one ranking as Florida’s leading community bank.
First Citrus Bank received this recognition from American Banker for the second year in a row, based on the three-year return of average equity for publicly traded community banks. First Citrus Bank provided crucial economic support to local Tampa Bay businesses during the pandemic through the SBA PPP loan program, which simultaneously boosted the financial health of the bank. Throughout the program, the bank loaned out more than $180 million to 2,272 local businesses. Notably, 92% of those companies had fewer than 25 employees.
The article from Business Observer Florida also touches on First Citrus Bank’s revenue growth of 7% in 2020 to $22 million, and total deposits growth of 37% to $473.9 million.
As Jack Barrett, president and CEO, stated, “This No. 1 ranking as the top-performing community bank in Florida is a byproduct of our associates’ deep commitment to our mission,”
To read the complete article, click: PPP loans help local community bank get named top in Florida