News Summary
Claxton Bank has officially launched its new downtown office on the 18th floor of 1 Independent Square in Jacksonville. This expansion, led by local investors, marks a significant milestone for the bank, which has operated since 1941 in Georgia. With a focus on high-quality service for small and midsize businesses, Claxton Bank aims to double its assets in the coming years and strengthen its community ties in Jacksonville and beyond.
Jacksonville Welcomes Claxton Bank’s New Downtown Office
Exciting news is buzzing around Jacksonville! The community is abuzz as Claxton Bank, a charming community bank from Claxton, Georgia, has officially opened its new office and full-service branch on the 18th floor of the iconic 1 Independent Square tower. This stunning new addition marks a significant milestone in Claxton Bank’s journey as they take a big step into the vibrant heart of Downtown Jacksonville.
A New Chapter for Claxton Bank
Claxton Bank has quite a history, operating since 1941 in Georgia. However, things have taken a dynamic turn after being acquired by a group of Jacksonville investors in November 2023, which sparked the idea of this exciting expansion. The bank opened its doors in Jacksonville in October 2024, and it’s here to make waves! This new branch will serve not just as executive offices but also as a legal deposit-taking branch.
A Different Name, Same Community Focus
While Claxton Bank continues to fly its banner proudly in Georgia, they’ve opted for a fresh marketing approach in Jacksonville under the moniker TCB. This branding strategy allows them to cater specifically to the local community while maintaining their well-loved roots back in Georgia.
Leadership Committed to Local Needs
At the helm of Claxton Bank is Scott Verlander, President and CEO, who truly understands the value of having a Downtown presence. His vision is clear: to signify a strong commitment to the Jacksonville community. Among the investment group steering this expansion is Rob Clements, former Chief Executive of EverBank, who is serving as chairman of the board. Both leaders share a passion for enhancing the banking experience for locals.
High-Touch Service Tailored for Jacksonville
What sets Claxton Bank apart is its clear focus on delivering high-touch, high-quality service, especially tailored for small and midsize businesses and professional firms in Jacksonville. The aim is to create strong relationships and provide personalized financial solutions that meet unique needs.
Fast Growth Plans and Community Impact
With approximately $200 million in assets, Claxton Bank is eyeing further growth and aims to double its assets, reaching between $400 million and $500 million within the next three years. They already boast approximately $145 million in deposits across their two offices in Georgia, showcasing a remarkable 57% market share in Evans County!
A Dedicated Team Ready to Serve
In the heart of Jacksonville, the new office employs a dedicated team of 10 professionals, all geared up to provide full banking services, despite the tides of online banking. With local banker Kim Sole leading the Jacksonville team and over 20 years of banking experience, customers can expect guidance from seasoned experts in credit and commercial real estate lending.
The Big Picture: Expansion Plans
Looking to the future, TCB isn’t stopping in Jacksonville. They have plans to expand further along the Interstate 95 corridor, with a keen eye on locations between Savannah and Jacksonville. Savannah is already marked as the next target for their expansion efforts!
Funding for a Bright Future
To fuel this growth, Claxton Bank recently completed a notable $20 million growth equity capital raise in June 2024. This funding stands as a testament to their commitment to expanding their reach and services in North Florida.
With all this happening, the residents of Jacksonville can look forward to a community bank that understands and addresses their needs while planning exciting new services and offerings in this bustling city. The arrival of Claxton Bank is just what the community needs to foster local businesses and strengthen economic ties in Jacksonville!
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Additional Resources
- Jacksonville Daily Record: Claxton Bank Expands
- Business Wire: Claxton Bank Expansion
- Jacksonville Daily Record: Acquisition of Claxton Bank
- Wikipedia: Community Bank
- Business Wire: Southern Bankshares Offering
