Florida Office of Financial Regulation

Encore Bank Becomes Florida State-Chartered Institution

10/12/2016

For Immediate Release                               
Wednesday, October 12, 2016
 
Media Contacts:
Jamie Mongiovi (850) 410-9709
Katie Norris (850) 410-9826
Twitter: @FlFinancialReg
                                                                                                                       

Encore Bank Becomes Florida State-Chartered Institution
 
Tallahassee, Fla. – The Florida Office of Financial Regulation is pleased to announce that Encore Bank converted to a Florida state-chartered financial institution effective October 5, 2016. The bank is located in Naples, with branches in Bonita Springs, Fort Myers, Port Charlotte and Sun City Center. Encore Bank holds more than $383 million in assets.
 
Commissioner Drew J. Breakspear said, “There are many advantages to becoming a Florida state-chartered financial institution and the Florida Office of Financial Regulation looks forward to working with Encore Bank.”
 
Encore Bank, established in 2007, will benefit by converting to a state-chartered financial institution, including lower costs and access to regulators who know Florida’s markets and are responsive to changes in local economies.
 
Florida’s state-chartered financial institutions are licensed, examined and regulated through the Florida Office of Financial Regulation to ensure that private funds deposited are protected from potential loss, due to failure or insolvency. To learn more about the benefits of becoming a Florida state-chartered institution, visit www.flofr.com.
 
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