Bank of Florida Corporation · Naples, FL United States ·(NASDAQ (GM): BOFL)
Company Description
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This link will open in a new window Bank of Florida (formerly Bancshares of Florida) is the holding company for its eponymous Bank of Florida subsidiaries, which operate about a dozen branches in southeastern and southwestern portions of the state, as well as in the Tampa Bay area. Subsidiary Bank of Florida Trust offers trust, estate planning, and investment management services. Both the bank and the trust company cater to professionals, entrepreneurs, and small to midsized businesses, providing personalized deposit, lending, and investment services that larger banks in their market often do not. In 2007 Bank of Florida bought Old Florida Bankshares , the holding company for Old Florida Bank, expanding its presence in Lee County. To read the full description, subscribe now.
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Key Bank of Florida Corporation Financials
| Company Type | Public - NASDAQ (GM): BOFL Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $47.5 |
| 2008 Employees | 243 |
Bank of Florida Corporation Executives
33 executives listed for Bank of Florida Corporation's Naples, FL location.
| Title | Name & Bio | Contact |
| Chairman | Michael Putziger | Network |
| Vice Chairman; Chairman, Bank of Florida Trust Corporation; Director, Bank of Florida, Southwest | Joe Cox | Network |
| President, CEO, and Director | Michael McMullan | Network |
Competition
Competitive Landscape for Bank of Florida Corporation
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Bank of Florida Corporation Competitors
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