Paradise Bank
Paradise Bank is a privately held, FDIC-insured community bank founded in 2005 in Boca Raton, Florida, operating three branches across Palm Beach and Broward Counties. It serves individual consumers, small businesses, and SBA-eligible entrepreneurs with relationship-driven deposit, lending, mortgage, and SBA financing products.
- Company typePrivate
- Founded2005
- HeadquartersBoca Raton, United States
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
What Paradise Bank does
Paradise Bank is a privately held, FDIC-insured community bank founded in 2005 and headquartered in Boca Raton, Florida. The bank operates three branches across Palm Beach and Broward Counties (Boca Raton, Delray Beach, Fort Lauderdale) and is structured as a Subchapter S corporation with fewer than 100 shareholders, with Paradise Bancorp, Inc. as its holding company. It is led by a founding management team — Ward Kellogg (Chairman/CEO), William J. Burke (President/COO), and Dennis W. Gavin (CCO) — whose members previously worked together at 1st United Bank and Admiralty Bank for over 40 years.
The bank offers a full-service retail and commercial banking product suite: personal and business checking/savings, CDs, IRAs, safe deposit boxes, consumer and business credit cards, Zelle person-to-peer payments, Remote Deposit Capture, residential mortgages (purchase, refinance, HELOC, construction), SBA 7(a)/504/Preferred SBA lending led by a dedicated EVP with 30+ years of experience, commercial term loans, and business lines of credit. The technology platform consists of standard third-party online and mobile banking with 128-bit SSL encryption and session-timeout security controls — there is no proprietary core banking system and no AI/ML features disclosed.
Paradise Bank generates revenue primarily through net interest income on its loan portfolio (SBA, commercial, residential, consumer) net of interest paid on deposits, supplemented by transaction fees on banking services, wire/lock box/stop payment charges, and credit card interchange. Its go-to-market is relationship-driven and community-embedded: physical branch presence in three South Florida markets, an SBA lending team providing specialized small business financing, and active civic participation through 70+ nonprofit partnerships, event sponsorships (Fleet Week Port Everglades, 4KIDS, Soroptimist, George Snow Scholarship Fund), and financial literacy workshops targeting local schools and youth organizations. Customer segments span individual consumers, small and medium businesses, commercial borrowers, homeowners, and SBA-eligible entrepreneurs in Palm Beach and Broward Counties.
Paradise Bank firmographics
Firmographics- Name
- Paradise Bank
- Legal name
- Paradise Bank
- Website
- https://paradise.bank
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Paradise Bank is a privately held, FDIC-insured community bank founded in 2005 in Boca Raton, Florida, operating three branches across Palm Beach and Broward Counties. It serves individual consumers, small businesses, and SBA-eligible entrepreneurs with relationship-driven deposit, lending, mortgage, and SBA financing products.
- Ownership category
- akta.pro rank
Paradise Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211), Depository Credit Intermediation (5221), Commercial Banking (522110)
- SIC
- State Commercial Banks (6022), Functions Related To Depository Banking, Nec (6099)
- akta.pro primary industry
- SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)
- akta.pro secondary industries
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Credit Cards & Revolving Credit (FSABAAAC)
Keywords
Where Paradise Bank is headquartered
LocationHeadquarters
- HQ city
- Boca Raton
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Paradise Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Net Interest Income: Interest earned on loans (SBA loans, commercial loans, home mortgages, personal loans) minus interest paid on deposits. Core revenue driver for the community bank.
- Banking Fees and Service Charges: Fees from deposit accounts, wire transfers, lock box deposits, stop payments, and other banking services.
- Credit Card Services: Revenue from consumer and business credit card programs.
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
Paradise Bank product offering
Product offeringCore offering
Paradise Bank is a community bank that provides deposit products (personal and business checking, savings, money market, CDs, IRAs), credit cards, SBA loans, residential mortgages, and commercial term loans and lines of credit to individuals and small/medium businesses in South Florida. Digital banking is delivered through an online and mobile platform with Zelle, remote deposit capture, and a financial calculator suite, while in-person service is delivered through three branch locations in Palm Beach and Broward Counties.
Product overview
Paradise Bank is a community bank offering a unified suite of deposit, lending, and digital banking products and services. Its portfolio spans personal and business checking and savings accounts, CDs and IRAs, consumer and business credit cards, SBA loans, home mortgage lending, and commercial lending including term loans and revolving lines of credit. Digital banking features include Zelle person-to-person payments, Remote Deposit capture, and an online financial calculators suite. The bank operates as a Subchapter S corporation and serves customers across Palm Beach and Broward Counties through three South Florida branches.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Checking
Quantifiable outcome
- Three thriving locations for Rising Tide Car Wash providing employment for individuals with autism
- +3 more outcomes
Companies that use Paradise Bank
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles2 records
Paradise Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Paradise Bank partnerships and signals
Strategic signalPartnerships
17 partnerships are on record, tiered core and minor.
- Service First Processing (SFP)coreParadise Bank has a mutual partnership with Service First Processing spanning over a decade. Paradise Bank provides SBA lending and commercial banking services to support SFP's growth, while SFP provides payment processing services that Paradise Bank uses for its own operations. This bidirectional relationship exemplifies community bank partnerships.
- Rising Tide Car WashcoreParadise Bank provided SBA loan financing to support John D'Eri in founding Rising Tide Car Wash, a social enterprise providing employment for individuals with autism. The SBA loan team helped secure funding to turn the dream into reality.
- the seed.coreParadise Bank provided SBA loan support that enabled Carly Altier and her co-founder to purchase their own bakery and expand the seed. from one location to eight locations across South Florida.
- RACKcoreParadise Bank supports RACK through SBA-backed financing as the company grew from a small electrical business to a multi-division energy and home services enterprise operating across Florida.
- HomeSafecoreCEO and Chairman Ward Kellogg has served on the HomeSafe Board for 20 years. HomeSafe provides prevention and intervention services for victims of child abuse and domestic violence, serving more than 16,000 individuals annually in Palm Beach County.
- Bit by Bit Medical Therapeutic Riding CentercorePresident Bill Burke serves as Event Committee Member for the Meggan Morency Annual Wild West Night benefiting Bit by Bit, the only medical therapeutic riding center in Florida providing equine-assisted therapy to children, adults with disabilities, and disabled veterans.
- George Snow Scholarship FundcoreChief Credit Officer Dennis Gavin supports the George Snow Scholarship Fund, which provides four-year financial assistance to promising South Florida students. Paradise Bank sponsors the annual Cowboy Ball event to fund scholarships.
- 4KIDScoreParadise Bank is a proud sponsor of 4KIDS, a nonprofit organization providing loving homes and hope for children in crisis. Bank employees attend and sponsor events like the Galetine's Day celebration.
- Spirit of Giving NetworkcoreParadise Bank actively supports Spirit of Giving, a collaborative network of over 115 nonprofit organizations and community partners in South Florida, strengthening local services through shared resources and best practices.
- Boca Raton Chamber of CommercecoreParadise Bank is a proud active member of the Boca Raton Chamber of Commerce, working with businesses to develop partnerships and support other businesses in the community.
- Women's Executive Club of South Palm BeachminorParadise Bank is a proud member of the Women's Executive Club, promoting professional development, mentorship, and community service among women leaders throughout South Palm Beach County.
- Port Everglades AssociationminorPresident Bill Burke serves on the Board of the Port Everglades Association, which connects public and private stakeholders to support Port Everglades growth through monthly luncheons and collaborative events.
- Junior LeagueminorParadise Bank supports the Junior League Woman Volunteer of the Year event, celebrating remarkable women leaders who embody the spirit of service.
- Fleet Week Port EvergladescoreParadise Bank is proud to support and sponsor Fleet Week Port Everglades, a premier annual celebration honoring U.S. Navy, Marine Corps, and Coast Guard service members. Paradise Bank hosts the Commander's Reception at LauderAle Brewery.
- Soroptimist International Boca Raton/DeerfieldminorParadise Bank was proud to host the Soroptimist International Boca Raton/Deerfield Non-Profit Service Awards, investing in projects that create lasting community impact.
- Crockett FoundationcoreParadise Bank team members conduct financial literacy presentations for Crockett Foundation students, covering topics including credit cards, credit scores, paychecks, and budgeting to build financial confidence for the next generation.
- American Heritage SchoolscoreParadise Bank hosts American Heritage Schools senior business track students for educational experiences focused on community banking and the impact local financial institutions have within communities they serve.
Scale indicators5 records
Recent moves7 records
Expansion highlights5 records
Paradise Bank competitors and assessment
Company assessmentRegional players
- Seacoast Bank: Florida-headquartered regional bank serving consumers and SMBs across the state with a comparable mix of deposit products, SBA, and commercial lending. Larger and geographically broader than Paradise Bank but operates in overlapping Florida markets.
Broad incumbents
- BankUnited: Large Florida-headquartered regional bank offering consumer, SMB, and commercial banking across South Florida and beyond. Competes for the same SMB and deposit customer base but at meaningfully greater scale and product breadth.
- City National Bank of Florida: Florida-focused bank offering personal, business, and SBA lending across the state. Larger, more diversified incumbent competing for similar South Florida SMB and consumer customers.
Emerging players
- NewtekOne (Newtek Business Services): Tech-enabled SMB financial services platform with significant SBA 504 and 7(a) lending activity, serving small businesses nationwide. Comparable SBA-driven business model but with broader geographic reach and more digital distribution than Paradise Bank.
Direct peers
- Bank of South Florida: Small community bank headquartered in South Florida serving SMBs and consumers with relationship banking, SBA lending, and commercial banking. Closest geographic and segment competitor to Paradise Bank in the Palm Beach / Broward market.
- Live Oak Bank: Small-business-focused bank with an industry-leading SBA lending franchise; one of the most active SBA 7(a) lenders in the US. Directly comparable to Paradise Bank's SBA-led value proposition, though larger and nationally distributed versus Paradise's local South Florida footprint.
- Optimum Bank: Florida-chartered small community bank with a similar deposit-and-lending mix serving local consumers and SMBs. Comparable scale and community-bank model, with overlapping geographic orientation in the South Florida / Florida market.
- Locality Bank: Florida-based community bank focused on personal and small business banking with relationship-driven service. Comparable scale and segment targeting in the same South Florida operating environment.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Paradise Bank social profiles
Digital presenceParadise Bank compliance and trust
Trust signalCompliance5 records
Paradise Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Paradise Bank leadership team
Management profileNumber of profiles
Profiles15 records
Paradise Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Paradise Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Paradise Bank
What does Paradise Bank do?
Paradise Bank is a community bank that provides deposit products (personal and business checking, savings, money market, CDs, IRAs), credit cards, SBA loans, residential mortgages, and commercial term loans and lines of credit to individuals and small/medium businesses in South Florida. Digital banking is delivered through an online and mobile platform with Zelle, remote deposit capture, and a financial calculator suite, while in-person service is delivered through three branch locations in Palm Beach and Broward Counties.
Is Paradise Bank a public or private company?
Paradise Bank is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Paradise Bank founded?
Paradise Bank was founded in 2005. It employs 51 to 100 people.
Where is Paradise Bank based?
Paradise Bank is headquartered in Boca Raton, United States, in the North America region.
How does Paradise Bank make money?
Three revenue lines are on record. Net Interest Income is the primary driver. The others are banking Fees and Service Charges and credit Card Services.
Who are Paradise Bank's main competitors?
Seacoast Bank is listed as a regional player. Broad incumbents are BankUnited and City National Bank of Florida. NewtekOne (Newtek Business Services) is listed as an emerging player. Direct peers are Bank of South Florida, Live Oak Bank, Optimum Bank and Locality Bank.
Does Paradise Bank have an API?
No public API is recorded for Paradise Bank.
What industry is Paradise Bank in?
Paradise Bank's product category is Community Banking. Its primary akta.pro industry code is FSABABAC, SME Deposits & Business Accounts (Operating, Savings, CDs), with a secondary code of FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings). Its NAICS code is 52211 and its SIC code is 6022.