| Follow Us: Facebook Twitter Youtube RSS Feed

Development News

NorthStar Bank opens new branches in South Tampa, downtown St. Pete

Technology has changed so much of what we do, and how we do it, including banking. For those, who desire or need to have the face-to-face exchanges with another human being, NorthStar Bank is opening up two additional branches.

The bank has had a presence in Tampa since it opened its main office in the Sykes building in downtown Tampa back in 2007. Today, NorthStar employs approximately 40 people with another office in Belleair Bluffs, and two new spaces: a branch on MacDill Avenue in Tampa and a loan production office in downtown St. Petersburg.

“The south Tampa branch is set to open in August,” says David Stone, President and CEO of NorthStar Bank. “We just opened the St. Petersburg office earlier this month.”

Stone says the St. Petersburg office will be strictly a loan production office, meaning no deposits can be taken; only business involving loan activity will occur. The loans will mostly be commercial loans for business owners, although home and auto loans will be offered.

“We have been debating whether to have a presence in the St. Pete market, and we decided it would make sense to have a loan production office because it’s a smaller investment to begin with,” Stone says. “A full service branch, you are looking at 2- to 3-million dollars.”

While the bank does offer online banking, Stone says it is important that customers get human contact.

“I’m sure you have read a lot of about branches closing with the bigger banks. That doesn’t mean there is not a need for a brick-and-mortar presence. The type of customers that we target want to talk with somebody,'' Stone continues. "We target professionals, doctors, lawyers, accountants, CPAs, those who have established small businesses, so when they have a banking need, it’s a little bit more complex than something you can do over a machine. That is why a face-to-face relationship is so important.”
 

Read more articles by Kimberly Patterson.

Kimberly Patterson is a news editor for 83 Degrees Media in the Tampa Bay region of Florida.
Signup for Email Alerts
Signup for Email Alerts

Underwriting Partners