TAMPA, Fla., May 20, 2020 (GLOBE NEWSWIRE) -- First Citrus Bancorporation, Inc. (OTC Markets: FCIT) was recognized as the top community bank in Florida and ranked in the top 100 nationwide by American Banker, a magazine that ranks publicly traded community banks based on their three-year average return on average equity. While the coronavirus pandemic has forced many banks to reprioritize and restructure, First Citrus Bank is proud to be among the community banks that have helped secure Payroll Protection Program (PPP) loans and restore jobs for local businesses.
“This pandemic isn’t requiring any shift in how we act; it’s shining a light on the values we’ve always held. We feel honored to be among the top 100 community banks in the U.S. and excited to continue expanding the First Citrus brand, making a difference in the lives of others, one business, one job, one family at a time,” said Jack Barrett, President and CEO of First Citrus Bank.
An unwavering commitment to small business is nothing new to First Citrus Bank. We have put 98¢ of every deposit dollar back into the community, helping our local businesses grow and thrive long before the coronavirus pandemic. To date, we have helped secure $106 million in PPP loans for over a thousand Tampa Bay businesses, enabling them to stay in business and provide jobs.
“Ninety-two percent of our Payroll Protection Program loans are going to businesses with less than 25 employees. We understand small businesses and champion them because we are one. A global pandemic isn’t going to change our resolve to support them or our approach in doing so,” said David Mastrorio, EVP and Chief Lending Officer of First Citrus Bank.
About First Citrus Bank
First Citrus Bank, a $540 million commercial bank, was established in 1999 and is headquartered in Tampa. It was selected as the Tampa Bay Chamber of Commerce 2019 Small Business of the Year and ranked as one of the Top 100 Community Banks in 2020 by American Banker. Ranked as one of the Top 25 Commercial Loan Producers in the Nation by the magazine Independent Banker, it serves businesses and individuals through a range of tailored financial solutions. Specializing in retail and commercial banking services, First Citrus Bank has five locations throughout Tampa Bay.
First Citrus Bank enhances vibrancy throughout Tampa Bay by helping families become more financially secure and businesses economically successful. For additional information, please visit http://www.firstcitrus.com.
About First Citrus Bancorporation, Inc.
First Citrus Bancorporation, Inc., is a Florida corporation and the parent bank holding company for First Citrus Bank, a Florida commercial bank. First Citrus Bancorporation, Inc. is headquartered in Tampa, Florida, and was ranked as the third best-performing regional bank stock in the Southeastern United States over the past three years by S&P Global Market Intelligence. Stock trades on the OTC Markets under the ticker symbol “FCIT.”