Spotlight On: David Davis, Market President, Seaside Bank

Spotlight On: David Davis, Market President, Seaside Bank

2022-11-17T12:08:35-05:00November 17th, 2022|Banking & Finance, Jacksonville, Spotlight On|

2 min read November 2022 Seaside Bank & Trust serves clients of all sizes across Florida. Invest: spoke with Market President David Davis about what differentiates the bank, the services it offers and what makes Northeast Florida a promising region for growth. “This is an exciting time to be in this region,” he said.

How has the modern client experience shifted?

Fewer people come into banks now than before. But when people do come in, they comment on how pleasant it is at Seaside Bank & Trust. They say it reminds them of how banking used to be because they are warmly greeted, called by name and carefully listened to. 

Many people want to do their banking electronically. Because I came from a large bank to a smaller one, I initially had concerns about whether Seaside had the technology and digital banking platform to compete with larger banks. I was pleased to discover that Seaside is more than competitive in these areas. For example, I recently shared our digital banking services with the CEO of one of the most well-known companies in Jacksonville.  He told me that the Seaside services were actually better than what he was currently using, and made the decision to leave their current bank, one of the giant banks, and move everything to Seaside. They found that our technology was better, more user friendly and easier to operate. So, our digital banking is on par, and in some cases superior, to what you’d find in a larger bank. 

What differentiates Seaside Bank & Trust?

What drew me to this bank was the outstanding culture and the high level of service that is delivered to the client. In many larger banks, clients are segmented based on industry or type of business. Sometimes clients are assigned not locally but to a relationship manager or department in another city. At Seaside, we are all about local banking relationships because we have a high commitment to exceptional service. Instead of assigning a client to an expert in another city, Seaside brings the expert to the local market to support the relationship manager.  Doing so provides a superior experience for the client.

One of the strengths of Seaside is commercial real estate financing. Just this year, the bank has financed multiple multifamily projects. We’ve also provided tax-exempt financing to one of the largest healthcare organizations in Florida. We’ve financed the construction of large owner-occupied buildings of one of the best known companies in North Florida. Even though Seaside is smaller than the largest banks in town, we have technical expertise and experience to finance a wide variety of lending needs. 

Seaside is also one of the largest Small Business Administration (SBA) lenders in the United States. As a Preferred SBA Lender, we are experts in this field and we have a great relationship with the SBA.  This makes the process easier for business owners who don’t have the time to dig through all the details of SBA financing. On the personal side, Seaside excels in mortgage banking. In fact, I’ve never worked in a place that was better in the area of residential lending than I’ve seen at Seaside. The service is excellent, the product offering is extensive and the interest rates are often below what our competitors provide.

What do you see as the next chapter of the economy?

It’s getting harder for business owners to find financing because banks are pulling back as the economy struggles. Although we are being careful and prudent, we are still eager to lend money. Our bank is very well-capitalized and our deposit balances are well above our loan balances. We have a disciplined credit culture so when things are tough in the economy, we are still able to serve the needs of our clients.

What challenges do you see?

Our biggest challenge is name recognition; not many people know of our bank. We are working to overcome this. We’ve doubled the number of calling officers. I’ve hand-picked people who are thrilled with the culture at Seaside. They want to tell the Seaside story and explain what differentiates our bank. The fact that we’ve more than doubled our loan production in a short period of time shows that our plan is working.  

What have you seen with new clients and those who are transitioning to your bank?

With so many people and businesses coming to North Florida, people are more focused on their banking experience and not whether or not they’ve heard of the bank. The new residents and businesses have provided a great growth opportunity for our bank. 

What will be your focus for the next few years? 

For me, as market president, I will lead my team to effectively demonstrate to clients and prospects that Seaside Bank & Trust consistently provides a far better service experience than most other banks. We have the solutions needed, and we will give our clients a better experience than they are accustomed to. We will look out for them and anticipate their needs. If we do that, both small and large customers will come and they will spread the word to others. We aim to create loyal clients who are eager to tell others about the great service they receive at Seaside. 

What is special about operating in Northeast Florida?

This is an exciting time to be in North Florida. Until recently, this market has not been as well known as Central and South Florida. North Florida has more land to develop, and we are framed by three beautiful bodies of water: the Atlantic Ocean, the St. Johns River and the Intercoastal Waterway. Many find that the people of North Florida to be friendlier. The result of all this is that North Florida is now experiencing the tremendous growth that Central and South Florida have already experienced. There is more upside potential here because we have more room to grow. 

How important is community involvement for Seaside Bank & Trust?

We believe we have a responsibility to be involved in the community. Strong SBA lending helps the community, including PPP loans during the COVID outbreak, and disaster relief loans in response to Hurricane Ian. We are a strong supporter of local non-profit organizations. At a corporate level, we have a foundation that gives to many organizations in our footprint. Locally, we also empower our employees to decide how they want to invest funds for charitable contributions. In recognition of the strong military presence in Jacksonville, our local employees have chosen to support K9s For Warriors, the Wounded Warrior Project, and other organizations that support those who have given so much to our country. We also help The Taylor Foundation, an organization that helps seniors with limited income to find permanent housing. And we give to PS27, a group that helps new business owners and entrepreneurs with skill development and the knowledge needed to grow and be successful.  

For more information, visit: 

https://www.seasidebank.com/ 

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