In The News
First Citrus Bank CEO, Jack Barrett, Explains Why Banks are Expanding in Tampa Bay
Jack Barrett, CEO and President of First Citrus Bank recently spoke to the Tampa Bay Times regarding bank expansion in Tampa Bay. In early 2021, First Citrus Bank announced their upcoming bank location in St. Petersburg and how it relates to the market’s growth potential. It has been noted that the amount of physical bank…
First Citrus Bancorporation, Inc. Reports Record-Setting Growth in 2021 First Quarter
TAMPA, FL., April 26, 2021 – First Citrus Bancorporation, Inc. (OTC Markets: FCIT), the parent bank holding company for First Citrus Bank, released its financial results for the first quarter of 2021. Net income of $1,705,000 for the quarter ended March 31, 2021 was the highest in company history. During the first quarter, assets, deposits,…
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…
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,…
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…
First Citrus feels PPP’s community bank infusion
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…
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…
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…
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…
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…