The Claxton Bank, a South Georgia-based community bank, announced Oct. 16 that it expanded into North Florida with an executive office and bank branch in Downtown Jacksonville.
The bank said its office and branch are leasing 4,248 square feet of space at 1 Independent Drive, Suite 1800, in the 37-story building known as 1 Independent Square.
The move has been expected since Scott Verlander, who led a Jacksonville investment group that bought the bank, told the Daily Record in July that the office will be on the 18th floor of 1 Independent, the 37-story Downtown tower formerly known as the Wells Fargo Center.
Verlander, now president and CEO, said the bank had already hired additional staff in Jacksonville.
The investment group led by Verlander, a former Jacksonville-based EverBank executive, acquired control of the bank’s parent company, Southern Bankshares Inc., in November 2023.
At the time, the company did not disclose the amount of the investment by the group, but Verlander said the bank intended to raise additional capital and possibly expand into Jacksonville this year.
The Claxton Bank said in the Oct. 16 announcement that it has served South Georgia for more than 80 years. It is based in Claxton.
The bank said it will be known as TCB in the North Florida market.
TCB is offering commercial and consumer banking and lending in North Florida through checking and savings accounts, treasury management, commercial real estate financing and other consumer and commercial lending solutions.
The news release said that in June 2024, TCB’s parent company, Southern Bankshares Inc., closed on a $20 million growth equity capital raise to help drive the expansion into North Florida.
“Expanding into Jacksonville is foundational to our growth strategy, and I am thrilled we have attracted such a strong and experienced team to serve clients in this growing market,” said Verlander in the release.
“Our leadership team, Board and shareholders have deep ties to the Jacksonville community, and we look forward to providing clients with a common sense, relationship-focused approach that can meet their banking needs.”
The Jacksonville team is led by Market Leader Kim Sole, who has more than 20 years of local commercial banking experience.
Grady Marshall is senior credit leader and Lauren Ervin leads commercial real estate lending, in addition to new lending and banking client support roles.
TCB also has three offices across Georgia comprising two in Claxton and one in Richmond Hill.
The Claxton Bank says it is a full-service, Georgia state-chartered community bank with about $190 million in total assets as of June 30.