Community Bank of Manatee Chairman and CEO William H. Sedgeman Jr. announced today that an investor group led by Marcelo Lima and Trevor Burgess has received regulatory approval from the Federal Reserve Board to invest $15 million, along with a number of existing shareholders and community members, in new equity capital in Community Bank of Manatee.
The State of Florida Office of Financial Regulation previously approved the transaction. The transaction should close within the next 15 days.
“By bringing new investors and existing investors together, we have recapitalized Community Bank of Manatee and are poised to make new residential and commercial loans and to welcome new depositors,” Sedgeman said.
Community Bank of Manatee currently serves customers from five branches, including two in the East County located at 2025 Lakewood Ranch Blvd. and 6000 S.R. 70 E.
For more information, call the Lakewood Ranch office at (941) 750-0700 or the S.R. 70 office at (941) 756-0099, or visit the bank’s Web site, www.CommunityBankNow.com.
Currently 0 Responses
22 Lakewood Ranch Republican Club Luncheon
12:00 pm - 1:00 pm
23 Back to School Splash Bash
10:00 am - 1:00 pm
23 Ovation - School of Musical Theatre Open House and registration for fall Session I
12:00 pm - 4:00 pm
30 Fresh Market on Main
Students make splash for school
Lakewood Ranch Community Activities Corp. this weekend will celebrate the start of school with its annual Back to School Splash Bash event Aug. 23, at the Lakewood Ranch YMCA, 5100 Lakewood Ranch Blvd.
Klauber, Mancini honored by AJC
The West Coast Florida Region of AJC (American Jewish Committee) will honor Michael Klauber and Phil Mancini, of Michael’s On East, in November.
Temples share the Torah
Twenty-three years ago, Temple Sinai received a Torah on loan when it organized a new congregation in Sarasota.