Marine Bank & Trust Hires Melissa Montanez as Vice President, Banking Center Manager Fort Pierce

Marine Bank & Trust Hires Melissa Montanez as Vice President, Banking Center Manager Fort Pierce

 

Marine Bank and Trust has announced that Melissa Montanez has joined the Bank as Vice President, Banking Center Manager of its forthcoming full-service Fort Pierce location.  Located at 604 Seaway Plaza at the southeast corner of US Highway 1 and Seaway Drive, the banking center is expected to open in early summer of this year.

With more than 20 years of banking experience including 15 years in branch management, Montanez is responsible for facilitating the Bank’s further expansion into St. Lucie County.  The Bank opened a residential and commercial lending office in Port St. Lucie in July of 2021 to meet the growing demand for residential mortgages and commercial capital.

“Melissa has a reputation for exceeding customer expectations and keeping her team focused and engaged,” said Bill Penney, President and CEO of Marine Bank. “As we celebrate our 25th anniversary this year, we recognize that providing an exceptional customer experience and promoting a positive workplace is a fool-proof recipe for success.  We are confident that it won’t take long for Melissa and the Fort Pierce team to be a trusted resource for Treasure Coast residents and businesses.”

About Marine Bank & Trust
Marine Bank was chartered in 1997 and has $547 million in assets as of December 31, 2021, with four full-service branches in Vero Beach, Sebastian, and Melbourne, and a commercial and residential lending office in Port St. Lucie. As the only community bank headquartered in Indian River County, the Bank’s growth aligns with the national trend of customers choosing to bank local.  Marine Bank has earned the coveted 4-Star Excellent rating from Bauer Financial, the nation’s premier bank rating firm. The bank has been named among the top extraordinary banks in the United States by The Institute for Extraordinary Banking for its commitment to strong community banking.  The Bank is an active community supporter providing over $200,000 to more than 125 local non-profit organizations in the market over the last five years.  For more information, visit the website at www.marinebank.bank.

 

 

Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email [email protected]

Apr. 4, 2022|

Bank of America offers digital resources to help Entrepreneurs start and grow their Businesses

Bank of America offers digital resources to help Entrepreneurs start and grow their Businesses

New secured credit options, including a credit card and credit line, and the Start a Business Center digital experience demonstrate ongoing commitment to helping small businesses succeed

BOA Logo

 

 

Bank of America announced the launch of the Business Advantage Unlimited Cash Rewards Secured credit card, Business Advantage Secured Credit Line and the Start a Business Center – its latest products and resources for entrepreneurs looking to start a small business or build their business’ credit history.

“Bank of America is committed to providing small business owners with innovative solutions and advice that can help them grow their business and establish long term financial wellness,” said Sharon Miller, president of Small Business and head of Specialty Banking and Lending at Bank of America. “These latest offerings are designed to empower entrepreneurs by providing them with access to resources that will help them to start or strengthen their businesses.”

Business Advantage Unlimited Cash Rewards Secured credit card

As small business owners continue to navigate a challenging business environment, the Business Advantage Unlimited Cash Rewards Secured credit card provides a new tool to help them establish, strengthen or rebuild their business credit – all while providing cardholders with the benefits that matter most to their business.

The new credit card is available now and has no annual fee. Benefits include:

  • Client-determined credit line from $1,000 to $10,000
  • 1.5% cash back on all purchases, with no annual rewards earn cap
  • Preferred Rewards for Business eligibility, providing access to a wide range of valuable rewards, benefits and savings – all with no fee to join or participate

Secured Business Advantage Credit Line

Additionally, Bank of America will offer a Secured Business Advantage Credit Line for small business owners, scheduled to launch later in 2022.

The credit line includes:

  • Client-determined credit line from $1,000 to $50,000
  • Convenient access to funds via online banking, convenience checks and linked Visa card
  • Annual renewal fee of $150

“Straightforward and convenient access to capital is crucial to ensuring small business owners have the resources they need to succeed,” said Chris Wong, Small Business Products executive at Bank of America. “With the launch of the new Business Advantage Unlimited Cash Rewards Secured Credit Card and Secured Business Advantage Credit Line, Bank of America remains committed to helping our 11 million business owner clients build and strengthen their business credit.”

Start a Business Center Digital Experience

Bank of America has also introduced a new resource to assist clients with starting a new small business. The Start a Business Center digital experience guides existing small business clients and aspiring business owners on exactly how to start and run their new business. It also offers an exclusive discount on business formation for Bank of America clients through Incfile.1

The digital experience offers resources such as business plan templates, partners for critical services and access to Bank of America Small Business specialists. Clients can utilize tips and considerations on topics such as writing a business plan, business legal structures, marketing strategy and business financing options.

To view our small business resources, download the Bank of America app or visit bankofamerica.com.

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with more than 54 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

 

 

Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email [email protected]

 

Mar. 28, 2022|

Bank of America is First Financial Institution Certified by J.D. Power for Customer Satisfaction

Bank of America is First Financial Institution Certified by J.D. Power for Customer Satisfaction

Bank recognized for comprehensive client experience centered around financial wellness

 

BOA LogoBank of America is the first financial institution to be certified by J.D. Power for financial health support, according to the J.D. Power Financial Health Support Certification Program. Bank of America is committed to helping clients make better financial decisions.

The J.D. Power Financial Health Support Certification Program, developed in collaboration with Financial Health Network, a leading authority on financial health, focuses on measuring and understanding customer experiences through the lens of financial health. Drawing on data and insights collected as part of the J.D. Power Financial Health and Advice Program, the J.D. Power Financial Health Support Certification recognized Bank of America for outstanding levels of customer satisfaction with financial health support offerings.

“At Bank of America, we have centered our entire client experience around the goal of financial health. We listen to our clients and respond with the personalized advice and tools they need to achieve financial wellness,” said Holly O’Neill, President of Retail Banking at Bank of America. “This certification recognizes our commitment to supporting financial health using a multifaceted approach. We provide educational resources and financial solutions that help clients build sound financial habits, manage their cashflow and pursue their goals.”

In its analysis, J.D. Power compared 96 best practices among banks, assessing vision, performance, infrastructure, and solutions. They looked at leadership commitment and strategic direction to support customers’ financial health and assessed internal capabilities, collaborative tools, and product development processes that can lead to it.

Bank of America uses a holistic framework for supporting the financial health of its clients, providing advice and guidance to address five key pillars of financial health:

In the J.D. Power Financial Health and Advice study, released in June 2021, Bank of America ranked number one nationally for retail banking customer satisfaction with the advice and guidance provided by national and regional banks in the United States.

J.D. Power 2021 Financial Health Support Certification℠ is based on exceeding customer experience benchmarks using client surveys and a best practices verification. For more information, visit jdpower.com/awards.

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 41 million active users, including approximately 33 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

 

Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at https://tcbusiness.com tcbusiness.com by Indian River Media Group. For more information or to report news email mailto:[email protected] [email protected]

 

 

Mar. 7, 2022|

Digital Engagement Soars at Bank of America

Digital Engagement Soars at Bank of America

Continued increase in client engagement drives records for Zelle transfers, digital deposits, Erica interactions and small business sales

 

BOA Logo

Bank of America added more than 2 million active digital clients last year, a single-year record, with its total number of verified digital users reaching more than 54 million. The bank’s clients logged in to its digital platforms a record 10.5 billion times in 2021, a year-over-year increase of 15%.

“Now more than ever, consumers and businesses depend on digital, and Bank of America continues to deliver efficient, safe and reliable digital financial solutions,” said David Tyrie, Chief Digital Officer and Head of Global Marketing at Bank of America. “Our digital capabilities allow our clients to easily manage every aspect of their financial lives across banking, investing, lending and retirement, with access to advice and guidance from our financial professionals and through our financial centers when they need it.”

As of January 2022, the bank has 16 million active Zelle® users – including small businesses – with clients sending more Zelle transactions than physical checks written in 2021 – 514 million compared to 453 million, respectively. Today, 86% of deposits are made through digital or ATM channels. Small business digital sales are nearly 300% above pre-2020 levels, and digital sales account for nearly 50% of total sales. Erica® engaged with clients for approximately 2.2 million hours in 2021. Clients can’t stop banking and are engaging with the bank’s full suite of capabilities:

  • A record level of Zelle transactions totaled $231 billion sent and received in 2021, up more than 64% year-over-year. Zelle accounted for 8% of total consumer spending at Bank of America in 2021, demonstrating client demand for fast, easy and safe methods of paying friends and family, shopping digitally and in-store, and paying bills.
  • Since launching in 2018, 24.6 million Bank of America clients have interacted with Erica®, the most advanced AI-driven virtual financial assistant, a total of 659 million times. In 2021, clients interactions with Erica were nearly twice the total of the previous two and a half years, with 123 million interactions taking place in Q4 2021 alone, a 247% year-over-year increase. Nearly 7 million clients engaged with Erica for the first time, and interactions among wealth management clients increased by 418% year-over-year.
  • Bank of America Life Plan® conversations in financial centers have led to the creation of more than 1.5 million future appointments to further discuss clients’ life priorities. More than 6 million Bank of America clients have created a Life Plan to set and track their financial goals and better understand and act on steps toward achieving them. Since its launch in October 2020, Life Plan clients have created 2.1 million new deposit accounts, 78,000 new Merrill brokerage accounts and opened 892,000 new card accounts.
  • Since adding Merrill investment features to the Bank of America app in Q2 2020, Bank of America has seen a 90% increase in the number of clients accessing investment features through mobile. Consumer Investments added 525,000 new funded accounts in 2021, bringing total accounts to 3.3 million. The Consumer Investments group is largely made up of Merrill Edge Self-Directed (MESD) accounts and Merrill Guided Investing (MGI) accounts. Last year, 40% of newly funded MESD and MGI accounts were opened by young investors under the age of 40, a 54% increase from 2019.
  • More than 85% of Bank of America small business clients are using digital channels. In addition, 75% of the bank’s mid-sized and large corporate clients are relying on digital to manage their companies’ finances. In 2021, these companies approved $384 billion of payments through the CashPro® app, a 119% increase year-over-year, with CashPro app sign-ins up 55%. Most recently, Bank of America launched CashPro Forecasting, a tool that uses AI and machine learning technology to more accurately predict future cash positions across client accounts at Bank of America and other financial institutions.

“Clients expect financial solutions that are timely, relevant and secure,” said Tyrie. “At Bank of America, we will continue to be at the forefront of innovation, leveraging best-in-class technology to support our clients through integrated and individualized capabilities to meet all of their financial needs.”

More information on how Bank of America clients are engaging with digital is available in the bank’s quarterly Trends in Digital fact sheet.

Recent awards and recognition

Bank of America’s digital leadership continues to be recognized throughout the industry, receiving more than 100 accolades in 2021 and already receiving top honors in 2022, most recently a No. 1 ranking from Barlow for small business online and mobile adoption. Bank of America has also been recognized recently as the Best Digital Bank by The Digital Banker in the Retail Banking Innovation Awards, and No. 1 on Keynova’s Online Banking Scorecard for the 26th consecutive time. Merrill Edge was also recognized as Best Online Stock Broker for Beginners by Bankrate.  Additional awards in 2022 and during Q4 2021 include:

  • Best Mobile Cash Management Software, by Global Finance (2022)
  • No. 1 Overall for Small Business Banking Digital Functionality, No. 1 Overall for Credit Card Scorecard, No. 1 in Digital Card Sales, Functionality, No. 1 Digital Mortgage and Home Equity Experience, Keynova (2021)
  • No. 1 Overall for Account Information, No. 1 Overall for Account Servicing, No. 1 Overall for Investor Questionnaires, No. 1 Overall for Fund and Account Transfers, No. 1 Overall for Mobile Alerts and Notifications, by Corporate Insight in the Monitor Awards
  • Best Digital Initiative for Bank of America Mobile App by Banking Tech Awards
  • No. 1 in Small Business Checking Digital Service penetration, Mobile Banking penetration and Remote Deposit Capture penetration in the BAI Small Business Benchmarking Study
  • 2021 Best Online Brokers for Stock Trading – Merrill Edge, Bankrate
  • No. 1 Overall Digital Experience by Forrester Research
  • Preferred Rewards program awarded Best in Class for Customer Loyalty Team, Customer Focus, Program Strategy and Design, B2B Customer Loyalty by Loyalty360
  • Outstanding Financial Innovator – 2021 Global by Global Finance
  • CashPro App named Winner: Mobile Technology Solution in Awards for Innovation & Excellence in Treasury by Treasury Management International, 2021
  • Digital Innovation Award for Merrill’s Digital Wealth Overview from MMI/Barron’s
  • Named Most Innovative Private Bank in North America by Global Finance

Download the Bank of America app or visit bankofamerica.com.

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 41 million active users, including approximately 33 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Zelle and the Zelle-related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

Bank of America Life Plan is a registered trademark of the Bank of America Corporation.

Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation.

 

 

 

Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at https://tcbusiness.com tcbusiness.com by Indian River Media Group. For more information or to report news email mailto:[email protected] [email protected]

 

 

 

 

Feb. 21, 2022|

The Veteran Collaborative Announces the Creation of the Veteran Loan Fund

The Veteran Collaborative Announces the Creation of the Veteran Loan Fund

Group of twelve Community Development Financial Institutions, with Bank of America as lead investor, honor our nation’s veterans

 

BOA LogoThe Veteran Loan Fund aims to fill the financial and training gap that underserved veterans face when building a small business. This fund includes a network of veteran service organizations focused on technical assistance and formal business coaching coupled with a network of twelve specialized capital providers, Community Development Financial Institutions (CDFIs). Eligible Veterans benefit from free business coaching and loans with interest rates of 10% or less.

It has been demonstrated that veterans returning to civil life have a high preference for independence and entrepreneurship but lack access to capital, formal business training and a network of peers. The Veteran Collaborative, now rebranded Veteran Loan Fund, was born in 2017 as an effort to consolidate best business practices to engage with and support veteran entrepreneurs.

“Veterans make great entrepreneurs. As a veteran, it is an honor to launch the Veteran Loan Fund to provide the capital and resources that they need to start and grow their small business. In doing so, we are helping them attain the American Dream.” says Grant Bennett, director of Veteran Programs and operating manager of the Veteran Loan Fund.

Specialized technical assistance partners include Bunker Labs, Vet Met, Vet to CEO, as well as local partnerships with Veteran Business Outreach Centers, SCORE and SBDCs. The full list of member CDFI’s of this nationwide collaboration are, Access to Capital For Entrepreneurs (GA), Black Business Investment Fund (FLA), Business Impact Northwest (WA, OR), Colorado Enterprise Fund (CO), Dream Spring (NM), Economic and Community Development Institute (OH), Pathway Lending (TN, AL, KY), PeopleFund - managing member (TX), Pursuit - formerly Excelsior Growth Fund (NJ, NY, PA), and Wisconsin Women Business Initiative Corporation (WI).

The Veteran Loan Fund’s first $15 million round is made possible by a $5 million commitment of long-term, below market rate lending capital from Bank of America as lead investor, along with historic support from other major institutions. The fund plans to grow to $100 million within five years, an amount equal to the estimated annual demand for capital from Veteran entrepreneurs that do not receive any kind of funding for their businesses.

“The flow of capital has a significant role to play in advancing opportunities for veterans,” said Dan Letendre, CDFI Lending and Investing executive at Bank of America. “By investing in the Veteran Loan Fund, we can help bring untapped potential among our local veteran entrepreneurs to the forefront and help to drive innovation, expanding job growth and creating generational wealth across our communities.”

For more information, please visit https://www.vet.loan.

 

 

Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at https://tcbusiness.com tcbusiness.com by Indian River Media Group. For more information or to report news email mailto:[email protected] [email protected]

Jan. 31, 2022|

Bank of America Awards $250,000 Grant to Indian River State College

Bank of America Awards $250,000 Grant to Indian River State College

 

BOA LogoBank of America announced a $250,000 grant to Indian River State College (IRSC) in support of the development and programming at IRSC’s Eastman Advanced Workforce Training Complex. The purpose-built facility, scheduled for a 2023 opening, will link advanced technology and leading-edge industry training in specialized technical career fields, such as advanced manufacturing, automotive, aviation and marine technology, welding, and more.
 
Since 1960, IRSC has offered high-skill and career-training programs to meet the ever-changing workforce needs of Indian River, Martin, Okeechobee and St. Lucie counties. IRSC's programs nurture industrial advancement while extending long-term economic opportunity to Treasure Coast residents by creating a dynamic workforce pipeline designed to propel regional growth and support business expansion. The state-of-the-art, 60,000-square-foot facility will be equipped with the technology and tools needed to prepare local students for high-demand, high-paying jobs.
 
“Bank of America’s investment in Indian River State College will establish the Bank of America Welding—Metal Joining Lab, a critical component of the forthcoming Eastman Advanced Workforce Training Complex,” says Michael Hageloh, interim vice president for Advancement. “The grant will help IRSC transform and expand the learning environment for our students by providing the latest technology—updated equipment, virtual reality welding machines, and more—to develop their skills and become workforce ready.”
 
Bank of America is a longtime partner of IRSC as part of its commitment to fostering economic growth in the community by supporting organizations that help businesses and individuals achieve financial stability. The bank recently provided additional funding to strengthen the Florida Small Business Development Center (FSBDC) at IRSC, which offers business consulting services to qualified and emerging businesses.
 
“We partner with nonprofits that mentor, educate and train today’s youth because solid work experience and skills are critical in promoting self-sufficiency and economic opportunity for local individuals and families,” said Doug Sherman, president, Bank of America Treasure Coast. “We look forward to seeing how the new IRSC Complex prepares the next generation of diverse talent to address ongoing labor shortages and empower tomorrow’s workforce for high-demand careers.”
 
Bank of America

At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

 

Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at https://tcbusiness.com tcbusiness.com by Indian River Media Group. For more information or to report news email mailto:[email protected] [email protected] 

Jan. 31, 2022|

Marine Bank & Trust Expands Lending Team

Marine Bank & Trust Expands Lending Team

 

Kristy Contreras, Marine Bank & Trust

Marine Bank & Trust has announced that Kristy Contreras has joined its residential lending team serving Martin and St. Lucie counties.   She will be based in the Bank’s commercial and residential lending office at 240 NW Peacock Boulevard, Suite 302 in St. Lucie West.

“Today’s competitive home buying market is like nothing we’ve seen before,” said Bill Penney, President, and CEO of Marine Bank. “Marine Bank is helping to alleviate homebuyers’ anxiety by increasing our team of responsive customer-focused and service-driven professionals.  Our goal is to simplify the dream of homeownership.”

Contreras brings more than a decade of customer service, sales, and branch management experience to the Bank.

To meet 2021’s growing housing demand, the Bank has more than doubled its number of residential lenders.  In 2020, Marine Bank closed 221 residential loans totaling $61 million enabling its customers to buy homes or lower their existing loan rate.

Jan. 3, 2022|

First Southern Bank expanding to Treasure Coast

First Southern Bank expanding to Treasure Coast, Watters named VP

 

Steve Watters Headshot

First Southern Bank, a full-service community bank serving Florida and Georgia, announced Monday that it plans to expand to the Treasure Coast and has named longtime Treasure Coast bankerSteve Watters  as a senior vice
president.

Watters has joined First Southern Bank with more than 30 years of banking experience. He has been a regional bank executive leading teams in the Treasure Coast Region for the past 20 years. He has previously been with SunTrust, Harbor Community Bank and most recently with SouthState,  where he served as Treasure Coast regional retail executive.

 Kelly Ellis, west Florida market president for First Southern, said First Southern will open a loan production office in St. Lucie County in early 2022 with the intention of converting it to a full-service branch.

“We are pleased to welcome Steve to First Southern Bank,” said Daniel S. Hager, chairman and CEO. “As a seasoned market leader with valuable experience, we look forward to the insight, energy and value he will bring to the Bank in the coming years.”

Watters began his banking career with a small community bank in North Carolina and now is returning to his community banking roots with First Southern Bank.

Watters has served on numerous non-profit boards on the Treasure Coast as well as developing mentorship programs. Watters is a graduate of University of North Carolina at Wilmington where he majored in business administration.
First Southern Logo
Dec. 20, 2021|

Coldwell Banker Paradise Donates to Camp Haven

VERO BEACH, FL.- Coldwell Banker Paradise recently donated $1,000 to the men working hard to turn their lives around at Camp Haven

Camp Haven is an Indian River Transitional home that provides living opportunities and an education to men trying to escape homelessness. They hope to transform the lives of homeless men by providing […]

Feb. 5, 2017|

Frank Stawara joins Vero Beach staff

VERO BEACH – Chris Bieber, Area Executive and Vice President of Commercial Lending of CenterState Bank in Vero Beach, has appointed Frank Stawara to the Vero Beach team. Stawara is handling business development and assisting Bieber with commercial lending operations.

Stawara is a life-long resident of Vero Beach, where his family are the owners and […]

Mar. 15, 2016|