Bank of Central Florida

Name

Bank of Central Florida

Legal name

Bank of Central Florida

Website

https://bankofcentralflorida.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industry

Balance-Sheet / Portfolio CRE Lending (FSALADAG)

Keywords

• Community banking services
• Commercial lending products
• Treasury management services
• Business credit cards
• SBA loan financing

Headquarters

HQ city

Lakeland

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income from Lending: Core revenue from commercial mortgages, construction loans, term loans, revolving lines of credit, equipment financing, specialty practice loans, and letters of credit. Interest income generated from business and commercial lending activities.
2. Deposit Account Fees and Services: Fees from commercial checking accounts, business checking, IOLTA accounts, Insured Cash Sweep accounts, and general deposit services.
3. Credit Card Revenue: Annual fees from business credit cards ($79 for Cash Back Rewards card, no annual fee for Platinum Benefits card), commercial purchasing card fees ($250 implementation, $25 annual per physical card), and interchange fees.
4. Treasury Management Services: Fees for treasury management services including wire transfers, ACH processing, Positive Pay, express deposits, and cash management solutions for business clients.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Bank of Central Florida is a community bank that provides personal and business banking services across Central Florida, including checking, savings, personal and commercial loans, business credit cards, SBA lending, and treasury management. Each client is paired with a dedicated Relationship Manager and access to the FLEX mobile and online banking platform, with local decision-making and underwriting for Central Florida businesses and consumers.

Product overview

Bank of Central Florida operates as a community bank offering integrated banking products through a unified platform. The core offering comprises Personal Banking (checking, savings, loans, credit cards, mobile banking) and Business Banking (checking, savings, loans, treasury management, commercial cards). The product portfolio centers on relationship-based commercial banking with key products including the FLEX Mobile Banking app, Business Platinum Credit Cards (with Cash Back Rewards and Benefits variants), Commercial Purchasing Cards, Treasury Management Services (Positive Pay, ACH management), and diverse commercial lending products (commercial mortgages, construction loans, term loans, revolving lines of credit, equipment financing, letters of credit). Additional services include SBA lending and specialty practice loans. The bank emphasizes local decision-making and relationship-focused service across its Lakeland, Plant City, Tampa Bay, Winter Haven, and Brandon locations.

Differentiator

Problem solved

Functional benefit

Brands

• Card Suite Lite: Card management app allowing users to control payment card usage via mobile device, turn cards on/off, set location controls, block international transactions, and set spending limits.

Products and services

• Personal Banking Personal banking services for individual consumers, including checking accounts, savings accounts, personal loans and lines of credit, personal credit cards, and access to the FLEX mobile and online banking platform.
• Business Banking Commercial banking services for Central Florida businesses, including business checking, savings, loans and lines of credit, treasury management, and business credit cards, with a dedicated Relationship Manager assigned to each client.
• FLEX Mobile Banking Mobile banking platform available on iOS and Android that supports personal and business clients with mobile check deposit, bill pay, fund transfers, transaction approvals, text alerts, account monitoring, Zelle P2P payments, and SecurLOCK card controls.
• Business Mobile Banking Mobile banking capability for business clients that enables mobile check deposit with check image review, bill payment, ACH transaction approvals, and Positive Pay transaction management from a mobile device.
• Business Online Banking Portal Web-based business banking portal that allows clients to monitor account balances, initiate wire transfers, import ACH files, pay down or draw from lines of credit, approve Positive Pay exceptions, and export data to CSV, QuickBooks (QBO), and BAI file formats.
• Commercial Mortgages Real estate financing for purchasing, building, renovating, or expanding owner-occupied and non-owner-occupied commercial properties, available with fixed and floating rate options.
• Construction Loans Financing for commercial and residential construction projects, with the ability to convert to permanent financing upon completion.
• Term Loans Business loans for equipment purchases, leasehold improvements, or business acquisitions, available with fixed or variable rate options.
• Revolving Lines of Credit Working capital credit lines for daily cash flow needs, enabling trade discounts, inventory purchases, and short-term operating funding.
• Equipment Financing Fixed and variable rate loans for technology upgrades and equipment purchases to improve business efficiency and profitability.
• Specialty Practice Loans Tailored lending solutions for medical, legal, and other professional practices to address their specific financial needs and growth goals.
• Letters of Credit Guarantees for vendor payments and security deposits for utilities, helping conserve cash for other business needs.
• SBA Loans SBA lending program supporting entrepreneurs and small businesses with SBA-backed loans, run by a dedicated SBA Executive.
• Business Platinum Credit Card with Cash Back Rewards Business credit card offering 1% cash back on purchases up to $1,000 annually, with a $79 annual fee and up to 50 cardholders per account.
• Business Platinum Benefits Credit Card Business credit card with no annual fee that provides cash flow management and added buying power for businesses.
• Commercial Purchasing Card (P-Card) Corporate expense management card with real-time controls, individual card restrictions, expense reporting, and a tiered rebate structure, priced at a $250 implementation fee and $25 annual fee per physical card.
• Treasury Management Services Cash management solutions for business clients, including deposit streamlining, expense reduction, Positive Pay fraud protection, ACH management, wire transfer initiation, and Insured Cash Sweep accounts.
• Positive Pay Fraud prevention service that allows businesses to review and authorize ACH transactions and check issuances before processing, with mobile approval via Business Mobile Banking.
• Insured Cash Sweep (ICS) Deposit sweep product providing unlimited deposit capability with FDIC insurance protection beyond standard limits, subject to higher balance requirements.
• SecurLOCK Card Suite Lite Mobile card management app that allows cardholders to turn payment cards on or off, set location-based controls, block international transactions, and configure spending limits.
• Zelle P2P Payments Peer-to-peer payment service integrated into the FLEX mobile banking app that allows users to send and receive money with no fees, with support for QR-code-based transactions.

Quantifiable outcome

• Client businesses grow significantly with bank support - e.g., HDPE grew from $2M to nationwide operations with 70 employees
• +3 more outcomes

Named customers14 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core.

• SUN 'n FUN Aerospace ExpocoreStrategic or Co-development Partner · 1 January 2011When SUN 'n FUN faced financial distress in 2011, Bank of Central Florida provided a line of credit and maintained faith in the organization. Since then, SUN 'n FUN has transformed into a powerhouse for aerospace achievement with improved Expo Campus, world-class event venue, and Aerospace Center for Excellence. Relationship Manager Nicole Irby continues to support their success.
• Heartland for ChildrencoreStrategic or Co-development PartnerBank of Central Florida partners with Heartland for Children to provide financial tools for their foster care mission across Polk, Highlands and Hardee Counties. The bank manages their development account for donations, processes funds for events like the annual Rudolph Roundup Toy Drive serving over 1,500 foster children, and helped secure PPP loan during the pandemic. The partnership exemplifies personalized community banking supporting organizations serving vulnerable children.
• Learning Resource Center (LRC) of Polk CountycoreStrategic or Co-development PartnerBank of Central Florida has banked with LRC for 15 years, providing lines of credit to manage cash flow timing for teacher payments. LRC serves thousands of students annually through tutoring programs. The bank's relationship manager Paul Noris provides responsive support, and the bank has never turned down a request, always finding solutions.
• SERVPROcoreStrategic or Co-development PartnerBank of Central Florida supported SERVPRO when they launched during the pandemic. The franchise grew from a modest team of four to fifty employees and expanded to seven franchises. Bank continues to provide banking services supporting their ongoing expansion.
• Catapult LakelandcoreStrategic or Co-development PartnerCatapult Lakeland has banked with Bank of Central Florida since 2013. The entrepreneurial center grew from small business in basement with 20 members and $145,000 budget to 38,000 sq foot facility with 230 members and $13 million budget. Bank provided services including transition to Insured Deposit Sweep accounts when they exceeded $250,000.

Scale indicators4 records

Recent moves8 records

Expansion highlights4 records

Broad incumbents

• Cadence Bank: Mid-sized regional commercial bank with strong Florida presence and SMB/commercial banking focus; comparable customer segment but multi-state footprint and significantly larger scale.
• Truist Financial Corporation: Large regional bank (successor to SunTrust) with deep Central Florida roots and the legacy employer of Bank of Central Florida's CEO; represents the larger incumbent against which the bank's relationship-focused positioning competes.
• Seacoast Banking Corporation of Florida: Florida-focused community banking franchise with substantial commercial banking operations; overlapping geographic footprint and customer base but materially larger scale than Bank of Central Florida.
• CenterState Bank (SouthState Corporation): Larger Florida-headquartered commercial bank (now part of SouthState) with deep community bank heritage across Florida; comparable customer base but materially larger scale and product breadth.

Direct peers

• Crews Bank & Trust: Florida-based community bank serving Central Florida with personal and business banking products; similar scale and geographic focus on Polk County and surrounding markets.
• First Citrus Bank: Tampa Bay-area community bank focused on relationship-based business banking, treasury management, and commercial lending to growing local businesses — directly comparable footprint and value proposition.
• BayFirst National Bank: Florida-based community bank publicly traded with a strong SBA lending franchise and Tampa Bay presence; comparable in size, geography, and business banking focus on growing SMBs.
• Bank of Tampa: Independent Florida-based commercial bank headquartered in Tampa with a similar relationship-driven community banking model targeting SMBs and professional practices in the Tampa Bay market.

Emerging players

• Live Oak Bancshares: Technology-forward community bank focused on small business lending (especially SBA) with growing digital banking platform; comparable in SBA/government-guaranteed lending focus and SMB customer segment.

Regional players

• Tompkins Community Bank (Tompkins Financial): Independent community bank franchise with similar size, relationship-driven business model, and treasury management offerings; comparable in operating model though based in a different U.S. region.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@bankofcentralflorida
• Facebookfacebook.com/bankofcentralflorida
• LinkedInlinkedin.com/company/Bank-of-Central-Florida
• Instagraminstagram.com/bankofcentralflorida

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bank of Central Florida