First Colony Bank of Florida

What First Colony Bank of Florida does

First Colony Bank of Florida is a privately held, FDIC-insured community bank founded in 2008 and headquartered at 711 North Orlando Avenue, Suite 100, Maitland, Florida. It operates a single branch serving the Central Florida market and targets small-to-medium-sized businesses, professionals (doctors, lawyers, accountants), individual consumers, and non-profit organizations. The bank is organized and owned by long-time Central Florida residents, including Robert H. Godwin (Chairman), Edward E. Haddock Jr. (Full Sail University co-founder), Robert S. Harrell, and Donald W. McIntosh Jr., with Ralph Betancourt serving as President and CEO. Management has explicitly committed to remaining an independent community bank rather than pursuing a growth-to-sell strategy.

The bank offers a full-service product suite across personal and business lines. Deposit products include personal and business checking variants, money market, savings, CDs (7 days to 5 years), and Traditional/Roth IRAs. Lending includes commercial loans (operating lines, equipment financing, business acquisition), commercial real estate, SBA 504 loans, and consumer loans (home equity, auto, boat). Technology infrastructure comprises an online banking platform with 128-bit encryption, mobile banking with deposit capture, remote deposit capture, ACH services, Positive Pay fraud controls, wire transfer, courier service, and escrow accounts. The bank integrates with Zelle for peer-to-peer payments, issues MasterCard debit cards, and distributes VISA Platinum credit cards through a partnership with TCM Bank, N.A.

The revenue model is predominantly net interest income from lending (commercial, CRE, SBA 504, consumer), supplemented by transactional and recurring fee streams: monthly maintenance fees on deposit accounts, debit/credit card interchange, merchant services processing fees, and tiered Business Online Banking subscriptions ranging from $25 to $100 per month. Pricing on personal online and mobile banking is freemium, with bill payment as a $6/month add-on for Basic and Non-Profit checking. Distribution is primarily the single Maitland branch plus direct relationship banking by the commercial lending team, supported by online and mobile self-serve channels. The bank has no disclosed social media presence and relies on its website, financial calculators, Florida Banking magazine coverage, and relationship-driven outreach as marketing channels.

Name

First Colony Bank of Florida

Legal name

First Colony Bank of Florida

Website

https://firstcolonybank.net

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

101–250 employees

Short description

First Colony Bank of Florida is a privately held, FDIC-insured community bank founded in 2008, operating a single branch in Maitland, Florida, and serving small-to-medium businesses, professionals, consumers, and non-profits in the Central Florida market with deposit, lending, and treasury services.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB)

akta.pro secondary industries

SME Commercial Real Estate (CRE) Lending (FSABABAG), SBA/Government-Backed & Development Finance Loans (FSAKAGAI), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

Keywords

• Community banking services
• Commercial lending
• Consumer deposit accounts
• Business cash management
• Small business banking

Headquarters

HQ city

Maitland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Primary revenue from interest earned on commercial loans, commercial real estate loans, consumer loans including home equity, auto, and boat loans, and SBA 504 loans
2. Core Banking Fees: Monthly maintenance fees, transaction fees, and service charges across personal and business deposit accounts. Fees apply for items exceeding thresholds, stop payments, and various account services
3. Debit/Credit Card Interchange: Transaction fees from MasterCard debit and credit card usage
4. Merchant Services: Fees for processing credit card and check transactions for business customers through merchant services
5. Business Online Banking Tiers: Monthly subscription fees for enhanced business online banking with cash management modules ranging from $25 to $100 depending on tier and features
6. Bill Payment Services: Monthly fee of $6.00 for Basic Checking and Non-Profit Checking customers who add bill payment service

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

First Colony Bank of Florida is a privately held community bank operating from a single branch in Maitland, Florida, providing traditional personal and business banking products. Its core offerings include deposit accounts (checking, savings, money market, CDs, IRAs), consumer loans (home equity, auto, boat), commercial lending (operating lines of credit, commercial real estate, SBA 504, equipment financing), card services (MasterCard debit, VISA Platinum credit), and digital banking channels (online, mobile, Remote Deposit Capture, cash management, Positive Pay, and Zelle). All lending and operational decisions are made locally to support small to medium-sized businesses, professionals, non-profits, and individual consumers in the Central Florida market.

Product overview

First Colony Bank of Florida operates as a community bank serving Central Florida, offering a unified banking platform with integrated modules for personal and business banking. The core product is Online Banking (web and mobile access), supplemented by specialized sub-products across deposit products (checking, savings, money market, CDs, IRAs), lending (commercial, real estate, SBA, home equity, auto, boat loans), and card services (MasterCard Debit, VISA Platinum Credit). Business banking features add-on modules including Business Online Banking, Business Bill Payment, Cash Management/Treasury Services, ACH Services, Positive Pay/ACH Debit-Block, Merchant Services, Remote Deposit Capture, Sweep Accounts, Wire Transfers, Courier Service, and Escrow Accounts. The platform integrates with Zelle® for peer-to-peer payments and participates in major card networks (MasterCard, Visa) and ATM networks (Presto, Plus, Cirrus, NYCE).

Differentiator

Problem solved

Functional benefit

Products and services

• Basic Checking Account Entry-level personal checking account with no monthly maintenance fee when receiving direct deposit, unlimited check writing, free MasterCard Debit Card, and first order of checks free. Targeted at individual consumers.
• Personal Checking Account Standard personal checking account with no monthly fee when $600 minimum daily balance or $1,500 average daily balance is maintained, free personalized checks, free notary services, and safe deposit box discounts. Targeted at individual consumers.
• Personal Interest Checking Account Interest-bearing personal checking account with tiered rate structure requiring $1,500 minimum daily balance or $2,500 average daily balance to avoid monthly maintenance fees. Targeted at individual consumers seeking yield on deposits.
• Progress 50 Checking Account Checking account designed for customers age 50 and over with unlimited check writing. Targeted at older individual consumers.
• Personal Money Market Account Interest-bearing personal money market account with daily compounding, limited to six transfers per statement cycle. Targeted at individual consumers seeking higher-yield liquid deposits.
• Personal Savings Account Personal savings account with no monthly maintenance fee when minimum daily balance is maintained, limited to six transfers per calendar month per federal regulation. Targeted at individual consumers.
• Minor Savings Account Savings account for customers age 17 and under with $25 minimum opening deposit and no monthly maintenance fee. Targeted at minors and their parents.
• Certificates of Deposit (CDs) Fixed-term deposit accounts starting at $1,000 minimum with competitive rates, terms ranging from 7 days to five years, and automatic renewal at maturity. Targeted at individual consumers and businesses seeking insured term deposits.
• Traditional IRA Tax-deferred individual retirement account with beneficiary provisions for retirement savings. Targeted at individual consumers planning for retirement.
• Roth IRA After-tax contribution retirement account with tax-free qualified earnings and penalties for non-qualified distributions. Targeted at individual consumers planning for retirement.
• Business Checking Account Business checking account with $100 minimum opening deposit, free online banking and bill payment, free Business MasterCard Debit Card when minimum balance requirements are met, and 200 combined items free per cycle ($0.25/item thereafter). Targeted at small to medium-sized businesses.
• Business Interest Checking Account Interest-bearing checking account for sole proprietors and non-profit organizations with tiered interest rates. Targeted at sole proprietors and small businesses.
• Non-Profit Checking Account Checking account designed for non-profit organizations with lower balance requirements. Targeted at non-profit corporations and organizations in Central Florida.
• IOTA Checking Account Interest on Trust Accounts checking account for qualifying organizations such as attorney escrow funds, with a $2,500 minimum balance requirement. Targeted at law firms and similar IOTA-eligible organizations.
• Commercial Checking Account Analysis-based commercial account using account analysis to compare balance value versus transaction costs, with earnings credit allowance offsetting activity charges. $15 monthly maintenance plus per-item fees. Targeted at higher-activity commercial customers.
• Business Money Market Account Business money market account with $2,500 minimum opening deposit and daily interest calculation, limited to six transfers per statement cycle. Targeted at businesses seeking higher-yield operating reserves.
• Business Savings Account

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature7 records

Partnerships

One partnership is on record.

• Early Warning Services, LLC (Zelle)coreTechnology or IntegrationFirst Colony Bank integrates with the Zelle network, a peer-to-peer payment service owned by Early Warning Services, LLC. This enables customers to send and receive money using email addresses or mobile phone numbers. The partnership provides customers with convenient digital payment capabilities integrated into the bank's online and mobile banking platforms.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Bank of Central Florida: Community bank serving the greater Orlando/Central Florida market with personal and business banking products, overlapping with First Colony's target customer segment and product set.
• Crews Bank & Trust: Florida community bank providing personal, business, and lending services to local customers — comparable in scale, deposit-driven model, and relationship-banking GTM.
• Intracoastal Bank: Florida community bank (Palm Coast) targeting small-to-medium sized businesses and professionals with comparable deposit, treasury, and commercial/consumer lending products.
• Cogent Bank: Central Florida community bank serving SMBs with deposit, treasury, and commercial lending products — same regional competitive set as First Colony.
• Bank of Tampa: Florida-based community bank serving businesses, professionals, and individuals with commercial lending, treasury management, and personal banking — analogous product-mix and SMB-focused relationship model.
• Old Florida Bank: Community bank also headquartered in Maitland, FL — essentially a same-metro peer — offering personal/business deposit products, commercial lending, and treasury services to Central Florida SMBs and professionals.
• Prime Meridian Bank: Florida community bank focused on relationship banking for businesses and professionals, with a similar SMB lending and deposit-product mix.

Broad incumbents

• Florida Capital Bank: Florida banking company serving businesses and consumers statewide; broader portfolio and scale place it as a larger incumbent competing against First Colony in the SMB segment.
• Heartland Financial USA (HTLF): Multi-state bank holding company with Florida community bank franchises — comparable commercial, consumer, and treasury capabilities at materially larger scale and broader geographic reach.
• Seacoast Banking Corporation of Florida: Larger Florida-focused regional bank holding company offering commercial, consumer, and wealth products across the state — overlapping capabilities but materially bigger footprint and broader product depth.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/first-colony-bank

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 First Colony Bank of Florida