The acquisition will increase it branch network to 24 branches. They are scheduled to open in the next six weeks that are located in local Walmart supercenter. The proposed branches are located in Naples, Osprey, Bradenton, Bartow, Brandon, Lake Wales, and Sebring.
Daniel C. Fischer, President and CEO of UTB, said: “These acquisitions reflect the success of our strategy and the resulting strength of our institution. Through this growth, UTB is rated by the FDIC as well capitalized, whose focus on providing better value has resonated with local communities, fueling asset growth from $30mm to over $500mm in an 18 month period.”
Robert L. Johnson, Chairman of UTB Holdings, said: “Our new locations in Walmart stores enable us to reach consumers in Florida who can benefit from the convenience of 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.”
UTB is a federally chartered community-oriented bank and a provider of financial services.
