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Important Announcements, Community Events and Other News From New Traditions Bank.

IBERIABANK Corporation Announces Agreement to Acquire Old Florida Bancshares, Inc.

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FOR IMMEDIATE RELEASE

October 27, 2014

Click here to view the release in PDF format.

  • IBERIABANK Corporation will enter Orlando, Florida
  • Acquisition of a very healthy, C&I-focused bank
  • Significant growth opportunities expected from the combination
  • Accretive to EPS in 2016, 20%+ IRR and limited impact to tangible book value per share

LAFAYETTE, LOUISIANA AND ORLANDO, FLORIDA — IBERIABANK Corporation (NASDAQ: IBKC) (“IBKC”), holding company of the 127-year-old IBERIABANK (www.iberiabank.com) and Old Florida Bancshares, Inc. (“Old Florida”), holding company of Old Florida Bank and New Traditions Bank (www.oldflorida.com) jointly announced today the signing of a definitive agreement for IBKC to acquire Old Florida via merger. The proposed merger of Old Florida with and into IBKC has been approved by the Board of Directors of each company and is expected to close in the first quarter of 2015. Completion of the transaction is subject to customary closing conditions, including the receipt of required regulatory approvals and the approval of Old Florida’s shareholders.

John O. Burden, Sr., President and Chief Executive Officer of Old Florida, will be named Executive Vice President and Market President for IBERIABANK’s Central Florida franchise after the acquisition is consummated. John Burden commented, “We couldn’t be more excited about this combination and look forward to partnering with IBERIABANK. Old Florida and IBERIABANK share a similar approach to banking – one that is grounded in a fundamental belief that success is driven by people and relationships at the local level. Culturally, both companies emphasize and value mutual respect, collaboration and community involvement. This is how we built Old Florida and how IBERIABANK has been growing for over 127 years. This step is the perfect opportunity to take our business to the next level – benefiting our clients, team members and shareholders.”

Daryl G. Byrd, President and Chief Executive Officer of IBKC, added, “We are very pleased to have the opportunity to enter the Orlando market by joining forces with Randy and John Burden and their exceptional team at Old Florida Bancshares. With a population of over two million people, the Orlando market is dynamic and possesses a deep commercial and industrial client base that is particularly attractive to us. Old Florida’s focus on these types of commercial clients, combined with quality credit underwriting and a strong core deposit base, provides an excellent fit with our unique culture and business model. We also believe Old Florida will complement our current southeast and southwest Florida franchises, along with our recently announced agreement to acquire Florida Bank Group, which has operations in Tampa, Jacksonville, Tallahassee, and Sarasota. Old Florida’s specialty niche businesses of SBA 504 lending and equipment financing provide interesting potential upside across our footprint as well.”

Under the terms of the merger agreement, shareholders of Old Florida will receive IBKC common stock. Old Florida common shares are assumed to total approximately 10,894,845 shares at closing, assuming approximately 10,562,259 common shares outstanding and approximately 332,586 common shares associated with the conversion of the convertible preferred stock into common shares.

  • Stock Consideration. Each Old Florida common share will be exchanged for 0.34 share of IBKC common stock, subject to certain market price adjustments provided for in the merger agreement. Based on IBKC’s closing stock price on October 24, 2014, of $64.13 per share, the stock consideration would equate to $21.80 per Old Florida common share, or approximately $238 million.
  • Unvested Stock Option Consideration. At September 30, 2014, Old Florida had approximately 2.1 million stock option shares outstanding with a weighted average exercise price of $11.66 per share. These stock options are anticipated to be in-the- money at closing. The merger agreement provides that any Old Florida stock options that remain outstanding immediately prior to closing, whether or not vested, will be cashed out at consummation of the merger. Based on IBKC’s closing stock price on October 24, 2014, of $64.13, the cash value for optional shares would be $21.3 million. The cash value of the stock options and stock consideration would equate to aggregate consideration of approximately $259 million.

IBKC currently estimates annual pre-tax expense reductions associated with the transaction will be approximately 30% of Old Florida’s run-rate expenses in 2014. The expense savings are estimated to be fully achieved, on a run-rate basis, within six months of closing. Acquisition and conversion related costs (including lease termination costs) are estimated to be approximately $21.6 million on a pre-tax basis. The transaction is expected to be 2%-3% accretive to IBKC’s fully diluted earnings per share (“EPS”) in 2016 and 2017.

The transaction is expected to be neutral to IBKC’s capital ratios, and to be approximately 2% dilutive to tangible book value per share on a pro forma basis at closing. The tangible book value dilution is anticipated to be earned back in less than four years. The estimated internal rate of return for the transaction is expected to be greater than 20%, and, therefore, in excess of IBKC’s cost of capital.

About Old Florida Bancshares, Inc.

Old Florida Bancshares, Inc. has 14 offices, including 12 offices in the Orlando area and two offices in Citrus County, Florida, approximately 70 miles north of Tampa. At September 30, 2014, Old Florida had:

  • Total Consolidated Assets: $1.4 Billion
  • Total Cash and Investment Securities: $276 Million
  • Total Gross Loans: $1.1 Billion (5.17% yield in 3Q14)
  • Noninterest Bearing Deposits: $327 Million (27% of total deposits)
  • Total Deposits: $1.2 Billion (0.29% cost in 3Q14)
  • FHLB Borrowings: None

Old Florida had 229 employees at September 30, 2014. For the quarter ended September 30, 2014, Old Florida reported net income of $3.1 million, a 4.01% net interest margin, 0.40% cost of interest bearing deposits, and 0.29% total deposit cost.

About IBERIABANK Corporation

IBKC is a financial holding company with 280 combined offices, including 187 bank branch offices and three loan production offices in Louisiana, Arkansas, Tennessee, Alabama, Texas, and Florida, 22 title insurance offices in Arkansas and Louisiana, and mortgage representatives in 59 locations in 10 states. IBERIABANK has eight locations with representatives of IBERIA Wealth Advisors in four states, and one IBERIA Capital Partners, L.L.C. office in New Orleans.

IBKC’s common stock trades on the NASDAQ Global Select Market under the symbol “IBKC.” IBKC’s market capitalization was approximately $2.1 billion, based on the NASDAQ Global Select Market closing stock price on October 24, 2014.

The following 11 investment firms currently provide equity research coverage on IBKC:

  • Bank of America Merrill Lynch
  • FIG Partners, LLC
  • Jefferies & Co., Inc.
  • Keefe, Bruyette & Woods, Inc.
  • Raymond James & Associates, Inc.
  • Robert W. Baird & Company
  • Sandler O’Neill + Partners, L.P.
  • Stephens, Inc.
  • Sterne, Agee & Leach
  • SunTrust Robinson-Humphrey
  • Wunderlich Securities

Additional Information

Sandler O’Neill + Partners, LP served as financial advisor and provided a fairness opinion to Old Florida and the law firm of Smith Mackinnon, PA served as legal advisor. UBS Investment Bank served as financial advisor to IBKC and Jones Walker LLP served as legal advisor.

IBKC has prepared a PowerPoint presentation that supplements information contained in this press release. The PowerPoint presentation may be accessed on IBKC’s web site, www.iberiabank.com, under “Investor Relations” and then “Presentations.” IBKC will host a conference call associated with this announcement on October 27, 2014, beginning at 9:30 a.m. Central Time (10:30 a.m. Eastern Time) by dialing 1-800-230-1951. The confirmation code for the call is 341033. A replay of the call will be available until midnight Central Time on November 3, 2014 by dialing 1-800-475-6701. The confirmation code for the replay is 341033.

Caution About Forward-Looking Statements

This release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. In general, forward-looking statements usually use words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology, including statements related to the expected timing of the closing of the proposed merger, the expected returns and other benefits of the proposed merger to shareholders, expected improvement in operating efficiency resulting from the proposed mergers with Old Florida and Florida Bank Group, Inc., estimated expense reductions resulting from the transaction and the timing of achievement of such reductions, the impact on and timing of the recovery of the impact on tangible book value, and the effect of the mergers on IBKC’s capital ratios. Forward- looking statements represent management’s beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements, and there can be no assurances that: the proposed mergers will close when expected, the expected returns and other benefits of the proposed mergers to shareholders will be achieved, the expected operating efficiencies will result, estimated expense reductions resulting from the transactions will occur as and when expected, the impact on tangible book value will be recovered or as expected or that the effect on IBKC’s capital ratios will be as expected. Factors that could cause or contribute to such differences include, but are not limited to, the possibility that expected benefits may not materialize in the time frames expected or at all, or may be more costly to achieve; that the merger transactions may not be timely completed, if at all; that prior to completion of the merger transactions or thereafter, the parties’ respective businesses may not perform as expected due to transaction-related uncertainties or other factors; that the parties are unable to implement successful integration strategies; that the required regulatory, shareholder, or other closing conditions are not satisfied in a timely manner, or at all; reputational risks and the reaction of the parties’ customers to the merger transactions; diversion of management time to merger-related issues; and other factors and risk influences contained in the cautionary language included under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in IBKC’s Form 10-K for the fiscal year ended December 31, 2013, and Form 10-Qs for the quarters ended March 31, 2014 and June 30, 2014, and other documents subsequently filed by IBKC with the SEC. Consequently, no forward-looking statement can be guaranteed. Neither IBKC nor Old Florida undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For any forward-looking statements made in this press release or any related documents, IBKC and Old Florida claim protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

This communication is being made in respect of the proposed merger transaction involving IBKC and Old Florida. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the proposed merger, IBKC will file with the SEC a registration statement on Form S-4 that will include a proxy statement/prospectus for the shareholders of Old Florida. IBKC also plans to file other documents with the SEC regarding the proposed merger transaction with Old Florida and the pending merger with Florida Bank Group, Inc. Old Florida will mail the final proxy statement/prospectus to its shareholders. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The proxy statement/prospectus, as well as other filings containing information about IBKC and Old Florida, will be available without charge, at the SEC’s Internet site (http://www.sec.gov). Copies of the proxy statement/prospectus and the filings with the SEC that will be incorporated by reference in the proxy statement/prospectus can also be obtained, when available, without charge, from IBKC’s website (http://www.iberiabank.com), under the heading “Investor Information,” and on Old Florida’s website, at (www.oldflorida.com).

IBKC and Old Florida, and certain of their respective directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the shareholders of Old Florida in respect of the proposed merger transaction. Information regarding the directors and executive officers of IBKC is set forth in the definitive proxy statement for IBKC’s 2014 annual meeting of shareholders, as filed with the SEC on April 7, 2014, and in Forms 3, 4 and 5 filed with the SEC by its officers and directors. Information regarding the directors and executive officers of Old Florida who may be deemed participants in the solicitation of the shareholders of Old Florida in connection with the proposed transaction will be included in the proxy statement/prospectus for Old Florida’s special meeting of shareholders, which will be filed by IBKC with the SEC. Additional information regarding the interests of such participants will be included in the proxy statement/prospectus and other relevant documents regarding the proposed merger transaction filed with the SEC when they become available.

 

IBERIABANK Corporation contacts:

Beth A. Ardoin, Director of Communications
(337) 278-6868
bardoin@iberiabank.com

John R. Davis, Senior Executive Vice President
(337) 521-4005
jdavis@iberiabank.com

Old Florida Bancshares, Inc. contact:

Robert L. Thompson. Executive Vice President and Chief Marketing Officer
(407) 247-2437
rthompson@oldflorida.com

24 Years Strong: Antonio’s Ristorante and New Traditions Bank

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When Greg Gentile decided to bring his authentic Italian fare to Central Florida in 1989, residents and visitors alike knew their culinary experiences would forever be changed. Guided by the founding principles of “Authenticity” and “Quality,” Greg opened and continues to operate three Antonio’s locations throughout Central Florida. Each location provides consistent and delicious meals for patrons made only with the freshest of ingredients.

With Antonio’s 24th anniversary approaching, we decided to sit down with Greg, the founder himself, and Sid Cash,

New Traditions Bank Vice-Chairman, and chat about Greg’s long-standing success in Central Florida and his partnership with New Traditions Bank.

Greg Gentile and Sid Cash

Greg Gentile and Sid Cash

Why did you choose to build your business in Central Florida?

Greg: I’m from Winter Park. It made sense to create a business where my roots are. It’s also a great location to cater

to the surrounding cities as well as out-of-town visitors.

Sid: Greg is similar to me where we wanted to revitalize the area where we are from – inject opportunities and energy into the city we love.

As a successful businessman, why do you elect to bank with a community bank?

Greg: I opt to bank local as it gives me the opportunity to work with people that I know and it’s easier to work with people you know than strangers. I’ve been working with Sid for about 25 years now and continue to do so because of

the relationship we have built. With “big box” banks, it’s hard to build the long-term relationships like that. Not only do I choose to bank local, but the majority of vendors I work with are independent.

How has your partnership with New Traditions impacted your business?

Greg: New Traditions has stayed a consistent partner with me throughout the years.  The recent renovations we made and will continue to make couldn’t be completed without them. I’ve been able to set myself up for success because of the partnership I created with New Traditions.

Sid: Greg has been a wonderful entrepreneur to work with. We have been with him through the good and the bad times.

How have you partnered with the Central Florida community?

Greg: We work with little leagues in the area, support local faiths, as well as donate to the New Hope for Kids charity.

It feels as if everyday I am a part of the community. I’ve seen couples go on their first date, to the birth of their first-born. You really grow with the community when you are in the position that I am in.

New Traditions is proud to partner with Antonio’s Ristorante and to be a part of their long-standing success! 

Building Community: Jeremiah’s Italian Ice Partners with New Traditions Bank

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Sid-Cash_Jeremy-Litwack_lowres

Jeremiah Litwack and Sid Cash

If you have lived in Central Florida for any length of time, you’ve likely seen the throngs of people standing outside of Jeremiah’s Italian Ice shops. Founded in 1996 by owner Jeremiah Litwack, the chain has opened five locations throughout Central Florida in popular spots including Winter Park, Maitland, Winter Springs, Lake Mary and Waterford Lakes.

With the sixth Jeremiah’s Italian Ice location (Longwood) and food truck set to open in 2014, we decided to sit down with Jeremiah (Jeremy) himself and chat about his success in Central Florida and long-time relationship with New Traditions. In typical fashion, Jeremiah sat down with New Traditions Bank Vice- Chairman Sid Cash in the bank’s Maitland Community Room for some good conversation (and some Italian Ice).

 

Why did you choose to build your business in Central Florida?

Jeremy:
I moved to Florida and quickly recognized many unique advantages for building my business in Central Florida. In addition to the great local culture and business climate, the weather is fantastic. The nearly year- round warmth is perfect for an Italian Ice business!

 

How have you partnered with the Central Florida community?

Jeremy:
We donate free servings of Jeremiah’s to local schools and community organizations every year. Students and teachers alike love Jeremiah’s and our Valentine’s Day promotion is one of my favorites! We donate free coupons so students can give them as a Valentine’s surprise to well-deserving teachers. In total, we work with nearly 60 schools throughout the Central Florida community.

We are also particularly fond of our partnership with Arnold Palmer Hospital for Children.

For several years, we have promoted a custom flavor called Sweet Child of Lime (after the popular Guns ’n Roses song) and donated $1 for each one sold benefitting the hospital’s programs for patients and their families.

Recently, we have partnered with Runway to Hope and we will be donating the proceeds from the Windermere store grand opening day to their great cause! Runway to Hope partners with Arnold Palmer Hospital for Children, Florida Hospital for Children and Nemours Children’s Hospital to provide support to Central Florida children and their families impacted by pediatric cancer. Our Windermere store will be opening in June – stay tuned for more details!

Sid:
Jeremiah’s also supports many local sports clubs and organizations through fundraising opportunities. I’m active with the Maitland Little League and Jeremy and his team are out there with us on many weekends selling their signature Italian Ice and sharing the proceeds with the league. The groups who benefit from this generous community support are too numerous to list.

 

How has your partnership with New Traditions impacted your business?

Jeremy:
Jeremiah’s has been a New Traditions customer for nearly five years and our relationship has grown into a very effective partnership. When New Traditions opened its Maitland office next door to our location, our teams got to know each other very quickly. (They were coming over for snacks more often then they’ll admit!) As our business has grown, New Traditions has offered the service we need to maintain momentum. Over the years, we’ve expanded our banking relationship into new areas from business accounts to equipment loans and merchant processing services for all of our Jeremiah’s locations. We are now in the process of consolidating all of our accounts to New Traditions. We’re incredibly satisfied with our partnership!

Sid:
Banking is a personal, relationship-driven business. We build partnerships with our customers and that helps us to stand out in the marketplace. Jeremy knows he can walk into my office at anytime to talk about something that’s important to him and his business. We love partnering with growing businesses because it provides us with a platform to directly connect customers; going that extra mile offers a unique added value helping everyone succeed.

New Traditions is proud to partner with the Jeremiah’s Italian Ice team and to be a part of the company’s local success story!

New Traditions Selected as Trusted Partner for 4 Rivers Smokehouse East Orlando Construction Loan

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When John Rivers opened the flagship 4 Rivers Smokehouse restaurant in Winter Park in October 2009, it didn’t take long for the buzz surrounding his popular Texas-style smokehouse to reach deafening levels, and word of mouth quickly propelled 4 Rivers to become “the” place to eat barbecue in Central Florida. (We all probably remember the line that wrapped around the building in the original Fairbanks Avenue restaurant location, and maybe we even stood in that line a time or two!)

Fast forward several years and 4 Rivers is poised to open its sixth Florida location in early April, with more locations planned throughout the Southeast! In late February, John Rivers joined up with his long-time community banking partners at New Traditions Bank to close on the construction loan for that sixth location, which will be located along University Boulevard in East Orlando, near the University of Central Florida.

John-Rivers-Headshot

“My philosophy is to do business with people, rather than companies. The people at New Traditions Bank understand our business and have become friends and trusted partners to our team,” said Rivers, who is Chef and Owner of the 4R Restaurant Group. “We’ve worked with New Traditions since the opening of our first Smokehouse in October 2009 and they’ve stood by us over the years. We chose New Traditions as the construction financing partners for our East Orlando location because their team provides sincere, personal and responsive service.”

Rivers and New Traditions Bank share a common commitment to giving back to the communities in which they live and work. At the core of the 4R Restaurant Group’s business philosophy is a dedication to supporting local schools, churches and charitable organizations that help people in a time of need. New Traditions Bank, which opened in 2008 and became one of the fastest growing community banks in the state, shares a similar view, and has made giving back a cornerstone of the bank’s operations.

New Traditions Bank is proud to continue to support John Rivers, the 4R Restaurant Group and all of their charitable endeavors as this restaurant group continues on its path of well-deserved success.

Photo Caption: (From left) John Rivers, Chef and Owner of the 4R Restaurant Group, and Rich O’Brien, Executive Vice President and Senior Lending Officer for New Traditions Bank, meet to close on the construction loan for the sixth Florida location of the popular 4 Rivers Smokehouse restaurant on Feb. 24, 2014.

Employee Spotlight: Sandy Hughes, Vice President & Market Executive

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Sandy Hughes, Vice President | New Traditions Bank

Sandy Hughes, Vice President & Market Executive

The Central Florida business community can, at times, feel small. And the banking industry in Central Florida is a close-knit community. It’s not uncommon for colleagues to work together at one bank, take different paths, and then eventually meet again to work together at a different bank along the way. Sandy Hughes, Vice President and Market Executive for New Traditions Bank, has a similar story.

Sandy first met David Dotherow when she began working at Colonial Bank in 1997. They remained in touch after David left, and a little more than a decade later, David reached out to Sandy again to see if she’d like to join him and partner Sid Cash at the (then) newly-formed New Traditions Bank. Sandy began working at New Traditions in December 2009.

In a recent interview, we caught up with Sandy to learn a little more about her experience at New Traditions Bank.

 

Q: Why do you love being a community banker?

A: It is so empowering to be able to work so closely with our customers, knowing that all of the bank’s decisions are made locally. There isn’t a long chain of command when it comes to decisions made on behalf of our customers. We work to customize solutions that are the best fit for our customers and our bank.

Q: What do you like best about working at New Traditions Bank?

A: It may sound clichéd, but working at New Traditions Bank really is like working along 45+ members of your family. We are all very close and work great together as a team. In the four years that I’ve been here, there have only been three team members who have left the bank, and that’s because two moved out of this market and one left to begin teaching within our school system! We all know each other on a personal level, and watching our bank excel as a team makes working here all the more rewarding.

 Q: When you’re not providing outstanding community banking experiences, where might you be found?

A: I enjoy spending a much time as possible outdoors with my husband and other family members. On the weekends, you can often find us camping, boating, or just hanging out with our great neighbors in Seminole County!

 

Thanks to Sandy Hughes for modeling the true spirit of New Traditions Bank! Check back to the website soon for another New Traditions employee spotlight.

Employee Spotlight: Rich O’Brien, Executive Vice President & Senior Lending Officer

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Rich O’Brien

Rich O’Brien, Executive Vice President & Senior Lending Officer

Rich O’Brien helped to establish New Traditions Bank when it opened more than five years ago, and he has served as Executive Vice President and Senior Lending Officer for the bank during that time. Throughout his career, he has held positions in a variety of lending roles at Florida National Bank, Security National Bank and Century National Bank. During this time, he worked with New Traditions Bank’s Sid Cash, David Dotherow and Jeffrey Jenkins, so it was a natural progression to help found the bank with these talented community bankers in 2008.

In a recent interview, we sat down with Rich to learn a little more about his experience at New Traditions Bank.

 

Q: Why do you love being a community banker?

A: Community banking affords me the opportunity to go that extra mile for my clients. I’ve been able to establish long-term relationships with them, and being a community banker allows me to take care of all of their financial needs over time.

Q: What do you like best about working at New Traditions Bank?

A: New Traditions is locally owned and operated. This allows us to reinvest in the Central Florida community, making it a better place to live and work.

Q: When you’re not providing outstanding community banking experiences, where might you be found?

A: I have been involved as a board member of the Christian Sharing Center in Longwood for eight years, helping to raise the capital and awareness needed to provide a wide range of financial assistance services to the less fortunate in Central Florida. I am also an avid fisherman, and make my way down to the Florida Keys as often as possible to enjoy offshore fishing.

Thanks to Rich O’Brien for modeling the true spirit of New Traditions Bank! Check back to the website soon for another New Traditions employee spotlight.

Making a Difference in the Central Florida Community

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Not-for-profit organizations are not in the business of making money, but they do need to continually generate funds to support the programs and outreach efforts they perform every day.

Habitat for Humanity in Seminole County and Greater Apopka operates to provide a stable home environment to residents in Apopka and Seminole County. Such stability promotes health, security and a sense of dignity and pride, while enhancing education and employment opportunities.

As part of its mission, Habitat for Humanity operates ReStore, a retail store that accepts donations of new and gently used household items that are then sold to bargain shoppers for home improvement projects. At the onset, Habitat for Humanity began receiving donations of building materials and household goods that donors thought could be used in Habitat homes. Though the generosity was greatly appreciated, it proved impractical to redesign blueprints to fit the dimension of specific doors, windows and cabinet sets that had been donated. Instead, Habitat affiliates began selling these donated items to the public and using the proceeds to cover costs of homebuilding through Habitat for Humanity’s ReStore.

The Sanford ReStore run by Habitat for Humanity in Seminole County and Greater Apopka, located at 1100 Americana Boulevard and Sanford, was recently refinanced by New Traditions Bank. Penny Seater, Executive Director of Habitat for Humanity in Seminole County and Greater Apopka, shares why her organization opted to work with New Traditions for the refinance.

“Our long-standing relationship with Dean Shaheen and New Traditions Bank has made all the difference. As a not-for-profit organization, it was important to us that our banking partner truly understood and valued our mission. New Traditions Bank provided outstanding customer service throughout the entire refinance process, working closely with us to ensure that the process was as smooth as possible. Our Habitat for Humanity ReStore in Sanford would not be as successful as it is today without the support and guidance provided by Dean and his team at New Traditions Bank.”

 

New Traditions Bank Habitat for Humanity ReStore

Penny Seater, Executive Director of Habitat for Humanity in Seminole County and Greater Apopka & Dean Shaheen, Executive Vice President of New Traditions

Important Information: Card Data Breach at Target

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At New Traditions Bank, we are always looking out for our customers.

It has come to our attention that a major breach of debit and credit card data has occurred. This incident increases the probability that your card information could be used fraudulently.

The reported breach happened between November 27th – December 15th. If you used your New Traditions debit card at any Target store in the U.S. during this time, please contact your branch immediately so we can take steps to determine if you card needs to be replaced – at no charge to you.

If you have any questions or concerns, please call your local branch:

 

  • Longwood | 407.865.9800
  • Maitland | 407.740.7800
  • Orlando | 407.206.7800

Please click here for additional contact information for your New Traditions Bank branch.

 

New Traditions Bank Merger with Old Florida Bancshares – Q&A

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Old Florida Bancshares, Inc. announced today it received final approval from New Traditions Bank shareholders on October 28, 2013 to close their merger transaction. The shareholder approval comes after The State of Florida Office of Financial Regulation issued a Final Order of Approval on October 11, 2013 for Old Florida Bancshares, Inc.’s application.

The merger was completed on November 1, 2013. The Bank will continue to operate as New Traditions Bank.

“With this closing, two of Central Florida’s leading financial institutions are now able to expand their services to the community and reaffirm their commitments to investing locally,” said Randy Burden, chairman of Old Florida Bancshares.

 

Q: What does the merger mean for me?

A: Same Bank. Same Service. Now that we are under the same umbrella as Old Florida, we are able to offer more products, more services and expand our investments in the community through more business loans.


Q: Are New Traditions branches converting to Old Florida branches?

A: Our focus is always on you. Our goal is to give you the best banking experience in central Florida. Because of that, we’ve been focused solely on completing the merger and continuing to grow our banks without any interruption in your banking experience. We do not have a timeline for conversion, but we will continue to look at ways to improve the customer experience as we move forward.

Q: Why did the banks merge?

A: Every day our goal is to strengthen our community by investing locally. The community we share is what guides our decisions and investments. By merging, we are now able to share more products and services across our two institutions and increase our loan offerings to the Central Florida business community.

 

To learn more about the merger, click here to view a PDF of the official News Release.

For press inquiries, contact:

Robert Thompson
407.247.2437
rthompson@oldfnb.com

 

Making Strides Against Breast Cancer Fundraising Results

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Thank you to everyone who helped us raise $1,500 for Making Strides Against Breast Cancer!

In the fight against breast cancer, every dollar counts, and Central Florida’s New Traditions Bank raised $1,500 during a bank-wide bake sale to contribute to the cause.

New Traditions Bank Making Strides Against Breast Cancer

As we mentioned last week, all three Central Florida branches of New Traditions Bank proudly displayed pink fundraising buckets in each branch and sold delicious baked goods to raise both money and awareness for the Making Strides Against Breast Cancer walk on October 19.

“It was amazing to see how everyone—employees and customers—came together to support our efforts to raise money before the walk on Saturday,” said Trish Teague, Senior Vice President for New Traditions Bank who coordinated the bake sale. “The responses we received to our fundraising efforts were phenomenal, and we are proud to have been able to raise money for such a great cause.”

New Traditions Bank Making Strides Against Breast Cancer

Click here to learn more!

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