Question 1

What is Central Bank of Tampa?

Accepted Answer

Central Bank of Tampa is a full-service, independently owned community bank that specializes in serving the banking needs of individuals and small businesses. Founded as a Minority Depository Institution (MDI) with Asian American minority status, the bank emphasizes personalized service and relationship-based banking. With approximately $363 million in total assets and 4 banking centers, Central Bank of Tampa focuses on providing a higher level of personalized service than typically available from larger financial institutions.

The bank operates under the philosophy of "Bank Better not Bigger," prioritizing customer relationships over institutional size.

Question 2

When was Central Bank of Tampa founded?

Accepted Answer

Central Bank of Tampa officially opened in February 2007 in Tampa, Florida. The bank was established as a Minority Depository Institution (MDI) to serve the diverse business community in the Tampa Bay area.

Since its founding, the bank has maintained its commitment to being an independent community bank while steadily expanding its geographic footprint to serve additional markets in Florida and Georgia.

Question 3

Where is Central Bank of Tampa headquartered?

Accepted Answer

Central Bank of Tampa is headquartered in Tampa, Florida, specifically in the Hillsborough County area. The bank's main office is located in the Tampa ZIP code 33647.

Tampa serves as both the operational headquarters and the original market for the bank's community banking services.

Question 4

Where does Central Bank of Tampa operate?

Accepted Answer

Central Bank of Tampa operates through 4 banking centers across Florida and Georgia. The bank's footprint includes:
• Tampa, Florida - The original headquarters and primary market in Hillsborough County
• Winter Park, Florida - Opened in August 2018 to serve the Orlando metropolitan area
• St. Augustine, Florida - Opened in August 2018 to serve Northeast Florida
• Suwanee, Georgia - Opened in 2022 to expand into the Atlanta metropolitan market

All locations are situated within the Tampa-St. Petersburg-Clearwater, FL Combined Statistical Area or nearby growth markets. The bank emphasizes hiring local bankers who understand their respective communities and can develop relationships with local small businesses.

Question 5

What services does Central Bank of Tampa offer?

Accepted Answer

Central Bank of Tampa provides a comprehensive suite of personal and commercial banking services, including:

Personal Banking:
• Checking and savings accounts
• Residential mortgage loans
• Mobile banking with mobile bill pay and mobile deposit
• Financial calculators and planning tools
• No-fee access to Bank of America's nationwide ATM network

Commercial Banking:
• Business checking and savings accounts
• Commercial real estate loans
• Cash management services including remote deposit, ACH origination, and online wire capability
• SBA loans through the Preferred Lender Program (PLP)
• USDA loans for rural business development

Digital Services:
• Mobile banking platform with bill pay and mobile deposit
• Online banking for personal and business accounts
• Remote deposit capture for businesses
• Online wire transfer capabilities

The bank emphasizes local decision-making on loans, allowing for responsive service and faster approvals.

Question 6

What makes Central Bank of Tampa unique?

Accepted Answer

Several distinctive features set Central Bank of Tampa apart:

Minority Depository Institution Status: Central Bank of Tampa is designated as an MDI with Asian American minority status, making it an important financial resource for minority and underserved communities in its markets.

SBA Preferred Lender: The bank holds the SBA Preferred Lender Program (PLP) designation, the highest designation given to the most qualified SBA lenders, allowing for streamlined processing of SBA loans.

Relationship-Based Banking: The majority of Central Bank's business is relationship-based, with most customers maintaining multiple account relationships. The bank's senior lender has been with the institution since opening, providing continuity and deep understanding of the credit culture.

Local Decision-Making: All loan decisions are made locally by experienced bankers who understand the specific markets they serve. Each new location is staffed by managers with extensive experience in their respective communities.

Community Commitment: The bank and its employees actively give back to the communities in which they work and live, maintaining values and sensibilities focused on customers and community development.

Question 7

What type of financial institution is Central Bank of Tampa?

Accepted Answer

Central Bank of Tampa is a State Non-Member Commercial Bank regulated by the FDIC. It is also classified as a Minority Depository Institution (MDI), specifically with Asian American minority status.

As a community bank, Central Bank of Tampa focuses on relationship banking and local decision-making rather than standardized institutional lending. The bank's community bank structure allows it to be more responsive to the needs of individuals and small businesses in its markets, while its MDI designation reflects its mission to promote economic viability in minority and underserved communities.

The bank operates independently without a bank holding company structure, maintaining full local ownership and control.

Central Bank of Tampa

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About Central Bank of Tampa in the United States