Robert L. Johnson's Urban Trust Bank Announces Plan to Open 7 New Branches

Urban Trust Bank (UTB) announced plans to open 7 additional branches in Florida previously operated by SunTrust Bank, a company UTB recently aquired. Each acquired branch is located within a local Walmart supercenter.

Robert L. Johnson, Chairman of Urban Trust Bank Holdings, Inc, stated, “We’re excited about our branch expansion and our new locations in Walmart stores which enable us to reach consumers in Florida who can benefit from the convenience of quality banking products and services. We look forward to meeting the financial needs of the citizens of Florida and supporting the economic growth of their communities.”

Commenting on the announcement, Daniel C. Fischer, President and CEO of Urban Trust Bank noted: “These acquisitions reflect the success of our unique strategy and the resulting strength of our institution.” Urban Trust Bank’s focus on providing better value has resonated with local communities, fueling asset growth from $30mm to over $500mm in an 18 month period. “Through this growth, Urban Trust Bank has maintained excellent asset quality and is rated by the FDIC as well capitalized,” Fischer concluded.

The acquired branches are scheduled to open in the next 6 weeks:

• The Naples Branch at 6650 Collier Road in Naples, Florida
• The Osprey Branch at 13140 South Tamaini Trail in Osprey, Florida
• The Bradenton Branch at 5315 Cortez Road in Bradenton, Florida
• The Bartow Branch at 1050 E. Van Fleet Street in Bartow, Florida
• The Brandon Branch at 11110 Causeway Blvd in Brandon, Florida
• The Lake Wales Branch at 2000 State Road 60 East in Lake Wales, Florida
• The Sebring Branch at 3525 US Highway 27 N in Sebring, Florida

Urban Trust Bank (UTB) is a federally chartered community-oriented bank with a growing network of branches in Florida. UTB was founded by entrepreneur Robert L. Johnson. UTB is designated as well capitalized by the FDIC, the highest possible capital rating. UTB is headquartered in Central Florida, and has offices in Maryland.

SOURCE: Urban Trust Bank