Spotlight On: Jesse Flowers, Community President, CenterState Bank

Spotlight On: Jesse Flowers, Community President, CenterState Bank

By: Max Crampton-Thomas

 

2 minute read November 2019 — Staying competitive and emerging as a leader in a crowded banking field takes smart growth strategies, remaining cognizant of trends in the industry and an ever-increasing focus on the technological wants and needs of customers. Jesse Flowers, the community president for CenterState Bank, spoke to Invest: about how his bank is ensuring continued growth into the future.  

How does your bank ensure continued and sustainable growth? 

 

We continue to grow, hire more people and expand our client base. We are always looking for acquisitions and good partnerships. We have acquired five banks over the last six years in South Florida, and all of them have been a strong fit. We want to make sure that our culture fits with the companies we acquire. We still run like a small bank, and all our decisions are made locally.

 

We stick to our fundamentals. We make sure that the loans that we provide are to good, qualified borrowers that can withstand a recession. On the commercial lending side, most of the demand is driven by real estate. We are paying close attention to where we are in the real estate cycle because Florida is mostly driven by tourism and real estate.

 

What is a particular trend you are keeping a close eye on? 

 

Banking is always changing. One of the trends that we have seen over the last five years is people using alternative lenders. Whether it be hedge funds, internet lenders or hard-equity lenders, a high number of those lenders have stepped into the market, more than they used to in the past. That might continue to be a trend because they are often able to be more flexible on the terms and conditions of their loans due to less regulation.

 

How does CenterState Bank remain client-focused in a rapidly changing banking environment? 

 

People are more focused on technology. We have to focus on the services that people want, like better and easier online technology. Those are the services that are expanding with people using phone and online banking. CenterState has invested in technology over the last several years because we know how important it is. Now, with open source platforms, access is getting cheaper, and we have hired in-house programming professionals to develop software for us.

 

To learn more about our interviewee, visit:

https://www.centerstatebank.com/

Spotlight On: Chuck Cross, Executive Vice President & Commercial Banking Executive, Seacoast Bank

Spotlight On: Chuck Cross, Executive Vice President & Commercial Banking Executive, Seacoast Bank

By Max Crampton-Thomas

 

2 min read October 2019 – With over 30 years in the banking industry, Chuck Cross has witnessed seismic changes in the way the banking sector conducts business. Currently serving as the executive vice president and commercial banking executive for Seacoast Bank, Cross has a unique perspective on the prominent growth of the banking sector in the past couple of years. He recently sat with Invest: Palm Beach to discuss how Seacoast has sustained continuous growth, why the business ecosystem in Palm Beach County is a benefit for banks and some of the reasons he attributes to the overall growth of Palm Beach County. 

How has Seacoast Bank sustained continuous growth? 

Seacoast Bank has been growing organically by hiring people and building relationships with customers since the recession, but we augment that organic growth with strategic M&A activity as well. We acquired Palm Beach Community Bank in November 2017, expanding our branch locations in the county from three to five and getting access to new customers. We also have  two commercial offices in the market, which is another catalyst for growth.

 

Why is Palm Beach County a conducive business environment for the banking sector? 

From a macro perspective, when you have a half million people relocating to Florida and a good amount of that coming to Palm Beach County, it drives the kind of growth we hope to see for the next couple of years. From a financial services perspective, Palm Beach is a great place to be operating and providing service.

Palm Beach County has really grown over the past decade. Dense population provides great opportunities for banks. Palm Beach is growing like the whole state of Florida is growing. Everyone wants to move to Florida either for the weather or for some of the changes in the tax reform, and people have always wanted to retire here. Palm Beach also has great infrastructure in terms of education. In addition, there’s a lot of oceanfront property that attracts high-net-worth individuals, which in turn attracts retail, recreation and service jobs.

 

To what do you attribute the growth of the local economy in Palm Beach County?

The Business Development Board of Palm Beach County has done a great job of attracting a lot of wealth management and private equity firms where the owners can live on the island and operate their companies from there. In the northern part of the county, there are also some aerospace companies, and there are healthcare technology companies like Max Planck and Scripps that are providing higher-level jobs as well. Hopefully this will help attract other types of high-level businesses.

 

To learn more about our interviewee, visit:

https://www.seacoastbank.com/