Question 1

What is First State Bank of the Florida Keys?

Accepted Answer

First State Bank of the Florida Keys is a community-focused commercial bank serving Monroe County and the Florida Keys region. With approximately $1.16 billion in total assets and over $1 billion in deposits, the bank operates 9 branches strategically located across the island chain from Key Largo to Key West. The institution specializes in commercial lending while providing comprehensive personal and business banking services tailored to the unique needs of the Keys community.

As the oldest bank in Monroe County, First State Bank has maintained a strong local presence for nearly seven decades, serving both residents and the region's tourism-driven economy.

Question 2

When was First State Bank of the Florida Keys founded?

Accepted Answer

First State Bank of the Florida Keys was established on October 29, 1955, originally as Key West State Bank. The bank was founded by a group of local businessmen who recognized the growing need for a dedicated financial institution to support the developing Florida Keys community.

Over the decades, the bank has evolved alongside the transformation of the Keys from a sparsely populated island chain to a vibrant tourism destination and residential area. Despite this growth and evolution, the institution has maintained its commitment to personalized, community-centered banking services.

Question 3

Where is First State Bank of the Florida Keys headquartered?

Accepted Answer

The bank is headquartered at 1201 Simonton Street in Key West, Florida. This location in the southernmost city of the continental United States positions the bank at the heart of the Florida Keys community it has served for nearly 70 years.

Question 4

Where does First State Bank of the Florida Keys operate?

Accepted Answer

First State Bank of the Florida Keys operates exclusively throughout Monroe County and the Florida Keys archipelago. The bank maintains 9 full-service branch locations strategically positioned across the island chain, including offices in Key Largo, Islamorada, Marathon, Big Pine Key, Summerland Key, Sugarloaf Key, Stock Island, and Key West.

The bank is notably the only banking institution with branches on Sugarloaf and Stock islands. Two branches are conveniently located within Winn Dixie Supermarkets, enhancing accessibility for customers. The bank also operates more than 30 ATMs throughout the Keys, ensuring convenient access to banking services across the entire region.

Question 5

What services does First State Bank of the Florida Keys offer?

Accepted Answer

First State Bank of the Florida Keys provides a comprehensive range of banking services including personal checking and savings accounts, certificates of deposit (CDs), individual retirement accounts (IRAs), and various loan products. The bank specializes in consumer lending, particularly residential mortgages and automobile loans.

For businesses, the bank offers commercial checking accounts, business loans, merchant services, treasury management solutions, and business advisory services including financial planning and cash flow management.

Digital banking services are available through the KeysBank Mobile App and online banking platform at keysbank.com. The mobile app features mobile check deposit, Zelle payments, bill pay, fund transfers, debit card management with customizable limits and alerts, account balance checking without login, secure messaging, and loan applications. Customers can also view statements, reorder checks, request stop payments, and locate ATMs and branches through the digital platforms.

Question 6

What makes First State Bank of the Florida Keys unique?

Accepted Answer

First State Bank of the Florida Keys distinguishes itself as the oldest bank in Monroe County and the only banking institution serving certain remote islands in the Keys, including Sugarloaf and Stock islands. This geographic positioning makes it an essential financial services provider for areas otherwise underserved by traditional banking.

The bank's deep community focus sets it apart from larger regional institutions. As a locally owned and operated bank, it maintains local decision-making authority, enabling quick responses to customer needs and personalized banking solutions tailored to the unique economic landscape of the Florida Keys. The institution actively supports local businesses, provides financial literacy programs, and invests in community development initiatives.

With strong capital ratios—including a Tier 1 Leverage Ratio of 10.37% and a Total Capital Ratio of 17.12%—the bank demonstrates exceptional financial strength while maintaining its commitment to personalized customer service that has defined its operations for nearly 70 years.

Question 7

What type of financial institution is First State Bank of the Florida Keys?

Accepted Answer

First State Bank of the Florida Keys is a state-chartered commercial bank with a commercial lending specialization. As a state bank, it is regulated by the Federal Deposit Insurance Corporation (FDIC) under certificate number 17509 and operates as a Federal Reserve non-member institution.

The bank functions as a community bank, meaning it focuses on serving a specific geographic region—in this case, the Florida Keys and Monroe County—with an emphasis on relationship banking and local decision-making. The institution is part of First STB FL Keys Holding Company, allowing it to maintain local ownership while having the resources to serve the comprehensive financial needs of its community.

First State Bank of the Florida Keys

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About First State Bank of the Florida Keys in the United States