Cortez Community Bank was formed in July of 2002.

The Organizers that formed the Bank believe that the economic growth in Hernando County, coupled with the lack of a locally owned commercial bank, has created a window of significant opportunity for an independent, community-based bank to establish itself as a sound and logical alternative to the regional and national banking entities.

The Bank’s focus is on providing a broad array of personal, consumer and commercial banking services to individuals and businesses located in and around Brooksville, Spring Hill and Hernando County, Florida, and emphasizes its local ownership and management and strong ties to the Hernando County community. It accepts deposits from the general public and uses them, together with borrowings and other funds, to originate a variety of residential and commercial real estate, business and consumer loans, and to purchase investments.

Directors are comprised primarily of experienced local business people, with diverse business backgrounds and expertise and strong ties to the community, who actively promote the Bank and cause to be employed by the Bank experienced personnel who reside in the local area, who are knowledgeable about banking and provide its customers with personalized service.

The Board of Directors include Lingappa Amarchand, M.D. of Hernando County; Terry G. Bickel of Bickel Realty Inc.; Mary Beth Gary, Managing Director of Oliver and Joseph, P.A; JoAnn E. Perry of Home/Land Title; Thomas S. Hogan Jr. of the Hogan Law Firm, Derrill S. McAteer, Retired Real Estate and Agriculture ; Mukesh H. Mehta, M.D. of Hernando County; Max Register of Register Chevrolet; Ralph V. Taglia of Grubbs Emergency Services; John S. Turner, Sr. retired manager of Turner Funeral Homes; Barry J. Weber of Family Dentistry of Hernando, Inc.

Donald R. Page is the bank’s President and Chief Executive Officer and also serves as a member of the Bank’s Board of Directors. Mr. Page is a seasoned banker with over 40 years of banking industry experience.

Strategy

The Directors have established a consumer-oriented independent community bank in Brooksville and Spring Hill in Hernando County, Florida designed to deliver products and services that meet the needs of individuals and small-to-medium sized businesses in a growing market area. They believe that the ability to provide personalized service in a fast and efficient manner, together with high quality products, is the primary basis on which the Bank competes for business. The Bank offers a full range of financial services and products to its customers, including: (a) real estate, commercial, and consumer loans; (b) deposit services; (c) debit and credit cards; (d) electronic transfer services; (e) internet banking with bill payment and; (f) other related products. They perceive that the larger institutions are inflexible, slow in their decision-making processes, and generally not adequately servicing the needs of our target market. Accordingly, they believe that the Bank will continue to attract customers who prefer to conduct business with a bank that is managed by experienced local residents who have an active interest in their business and who have the ability to act promptly on loan requests.

The community banking approach will provide the Bank’s customers with:

• local decision-making authority
• employees who are familiar with the customers’ needs, their business environment, and competitive demands; and
• employees who are able to develop and customize personalized financial solutions that meet the customers’ needs

Market Area

The Bank’s operations is based in Brooksville, with a branch in Spring Hill, Hernando County, Florida, which is strategically positioned in a stable and growing market area between I-75 and the Suncoast Parkway. The Hernando County population grew approximately 27% between 2000 and 2006, to 165,409 people. The combination of a mild climate, beautiful surroundings, and strong economic environment in Hernando County continues to attract residents and businesses, thereby positioning the Bank to take advantage of the growth in its service area.