Question 1

What is Evermore Bank?

Accepted Answer

Evermore Bank is a community-focused commercial bank headquartered in Fort Lauderdale, Florida. Established to fill the gap left by the acquisition of community banks by larger regional institutions, the bank specializes in serving small- and medium-sized businesses and professionals in South Florida.

With approximately $271 million in total assets and two full-service branches, Evermore Bank combines cutting-edge banking technology with personalized, relationship-focused service. The bank's founding team consists of veteran South Florida bankers with decades of combined experience in commercial lending and community banking.

Question 2

When was Evermore Bank founded?

Accepted Answer

Evermore Bank was founded on December 15, 2022, receiving its state charter and FDIC deposit insurance approval in July 2022.

The bank was organized by CEO Steven Sanzone and his executive team in response to customer demand for a true community bank alternative. As regional banks acquired most community banks in the Tri-County area of South Florida, local businesses and community members found themselves without banking options that met their specific needs.

The founding team successfully raised over $26 million in initial capital, primarily from local community members and approximately 300 shareholders, 90% of whom were from the local area. Many of the executive team members had previously worked together at Stonegate Bank, which Sanzone co-founded in 2004.

Question 3

Where is Evermore Bank headquartered?

Accepted Answer

Evermore Bank is headquartered in Fort Lauderdale, Florida, at 3696 North Federal Highway, Suite 100 & 305.

The main office is located in Broward County, positioned in the heart of South Florida's banking corridor along Federal Highway. This location serves as the bank's primary operational hub and provides full-service banking to the local community.

Question 4

Where does Evermore Bank operate?

Accepted Answer

Evermore Bank operates in the southeastern portion of Florida, specifically serving Broward and Palm Beach Counties. The bank maintains two full-service branches as of 2024.

The Fort Lauderdale headquarters serves the Broward County market, while a second branch is located in Wellington, Palm Beach County, at 12008 South Shore Boulevard. The bank has announced plans to relocate the Wellington branch to Palm Beach Gardens at 4550 PGA Boulevard to better serve existing customers in Palm Beach County.

The bank's assessment area covers two contiguous Metropolitan Divisions: the Fort Lauderdale-Pompano Beach-Sunrise MD and the West Palm Beach-Boca Raton-Boynton Beach MD, encompassing the entire Miami-Fort Lauderdale-Pompano Beach metropolitan area.

Question 5

What services does Evermore Bank offer?

Accepted Answer

Evermore Bank offers a comprehensive range of commercial and personal banking services tailored to small- and medium-sized businesses, professionals, and community members.

Commercial Banking Services include commercial real estate loans, commercial and industrial loans, business lines of credit, commercial lending, and deposit generation services. The bank's lending focus centers primarily on business credit, which represents a significant portion of its loan portfolio.

Retail Banking Services encompass personal checking and savings accounts, certificates of deposit, and consumer lending products.

Digital Banking Solutions feature secure online banking through the bank's website, mobile banking through the Evermore Personal mobile app (available on iOS and Android), bill pay services, online fund transfers, check deposits via mobile app, account alerts and notifications, and electronic statements. The bank emphasizes its "high-tech bank with cutting-edge technology" approach while maintaining a human touch in customer service.

Treasury Management Services include cash management services for business clients and merchant services for retailers and service providers.

Both branches offer convenient lobby hours Monday through Friday, with extended hours on Fridays, and provide full-service capabilities including access to safe deposit boxes and notary services.

Question 6

What makes Evermore Bank unique?

Accepted Answer

Evermore Bank distinguishes itself through several key characteristics that set it apart in the South Florida banking market.

Experienced Leadership Team: The bank's executive team brings over 100 years of combined banking experience. CEO Steven Sanzone and President Kris Barnhart previously co-founded Stonegate Bank in 2004, which grew from $45 million to $3 billion in assets. This proven track record of building successful community banks provides Evermore with strong leadership and industry credibility.

Community-Driven Origin: Unlike many banks formed by outside investors, Evermore Bank was created specifically at the request of customers who lost their community banking relationships to regional bank acquisitions. This customer-driven founding ensures the bank remains focused on local needs rather than distant corporate priorities.

Relationship Banking Model: The bank emphasizes total banking relationships with a human touch, combining advanced technology with personalized service. This approach contrasts with larger regional banks that often prioritize standardized processes over individual customer relationships.

Strong Capitalization: Evermore maintains a robust capital position with an eight percent Tier 1 capital to assets leverage ratio, significantly exceeding regulatory requirements. This strong capital base supports lending capacity and provides stability.

Local Ownership and Accountability: With 90% of initial shareholders being local community members, the bank maintains strong ties to the communities it serves and demonstrates accountability to local stakeholders.

Rapid Growth: Despite its recent founding, the bank has demonstrated consistent growth in deposits, loans, and assets, reaching approximately $196 million in assets by December 2024 while maintaining profitability.

Question 7

What type of financial institution is Evermore Bank?

Accepted Answer

Evermore Bank is a state-chartered, non-member commercial bank regulated by the Florida Office of Financial Regulation and the Federal Deposit Insurance Corporation (FDIC).

As a state commercial bank, Evermore operates under a Florida state banking charter rather than a federal charter, giving it flexibility in operations while maintaining FDIC insurance protection for depositors. The "non-member" designation indicates that the bank is not a member of the Federal Reserve System, though it maintains correspondent banking relationships to access Federal Reserve services.

The bank's classification as a community bank reflects its focus on serving local small- and medium-sized businesses and professionals within a defined geographic market. Unlike regional or money center banks, community banks like Evermore emphasize relationship-based banking, local decision-making, and personalized service.

With its specialization in commercial lending and business banking services, Evermore functions primarily as a commercial bank rather than a purely retail institution, though it does offer personal banking products to serve the complete financial needs of business owners and community members.

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About Evermore Bank in the United States