Friday, February 23, 2018
Business

American Momentum Bank plans to move headquarters from Tampa to Texas

Tampa-based American Momentum Bank has filed plans with regulators to move its headquarters to College Station, Texas, in order to seize on potential acquisitions there.

"We believe that Texas has a number of attractive acquisition opportunities and as a Texas state-chartered bank, we would be able to negotiate those Texas acquisitions more effectively," Sam Davis, the bank's president and chief operating officer, said Monday.

Davis said there would be no effect on customers, with no staff nor operations relocating. "We have long operated a split executive team with some in Texas and some in Florida," he said. "None of that will change."

Donald Adam, chairman, CEO and founder of American Momentum, lives in Texas. But the 7-year-old bank ranks among the bay area's biggest community banks, with about $937 million in assets, according to the latest available figures from the Federal Deposit Insurance Corp.

It also has strong community ties with an executive team that includes some longtime area bankers and a board of directors that includes former U.S. Sen. Connie Mack, commercial real estate executive Lee Arnold Jr. and USF president Judy Genshaft. Davis said that Genshaft is stepping down from the board due to personal obligations "totally unrelated" to the headquarters move.

Comments
Edward Peachey demands severance from CareerSource before stepping down

Edward Peachey demands severance from CareerSource before stepping down

The head of the Pinellas and Hillsborough career centers under multiple investigations into the way they report job placement figures says he has no intention of stepping down.That’s unless he is paid five months severance.In a letter from his attorn...
Updated: 1 hour ago
Terminally ill Valrico man dies a month after marrying junior high sweetheart

Terminally ill Valrico man dies a month after marrying junior high sweetheart

VALRICO — During his final few days, 19-year-old Dustin Snyder moved to a hospice house, surrounded himself with belongings from home, swam in a pool and visited the beach in Ruskin.Wherever he went, the terminally ill Valrico man had family beside h...
Updated: 2 hours ago
Tampa Downtown Partnership gets initial city okay to expand north

Tampa Downtown Partnership gets initial city okay to expand north

TAMPA — The Downtowner may be heading to Tampa Heights — but not until Oct. 1.That’s because the nonprofit Tampa Downtown Partnership this week won initial City Council approval to expand into Tampa Heights."Tampa Heights is becoming an important gat...
Updated: 3 hours ago

Tampa lawyer gets 27 months in federal prison for insider trading

Tampa lawyer Walter "Chet’’ Little was sentenced this week to 27 months in federal prison for engaging in an insider trading scheme that reaped him and a friend profits totaling nearly $1 million.According to federal authorities, Little accessed comp...
Updated: 4 hours ago
More companies are cutting ties with gun lobby as #BoycottNRA movement gains steam

More companies are cutting ties with gun lobby as #BoycottNRA movement gains steam

Three major companies — Enterprise Holdings, First National Bank of Omaha, and the cybersecurity giant Symantec — have ended co-branding partnerships with the National Rifle Association as a #BoycottNRA social media movement picks up steam.Enterprise...
Updated: 5 hours ago
Citi to refund $330 Million to credit card customers it overcharged

Citi to refund $330 Million to credit card customers it overcharged

Citigroup is preparing to issue $330 million in refunds after the bank discovered it had overcharged nearly 2 million credit card customers on their annual interest rates, a spokeswoman said Friday.The bank, which has about 150 million credit card ac...
Updated: 5 hours ago
Girl Scouts camp sold to member of Tampa’s Lykes family

Girl Scouts camp sold to member of Tampa’s Lykes family

ODESSA — The 63-year-old lakeside summer camp had no air conditioning or electricity. Cabin floors were often covered in grime, and cobwebs clung to the windows.But under new ownership, the 18.6 acres of Florida woods known as Camp Scoutcrest to memb...
Updated: 6 hours ago
BB&T cites ‘technical issue’ in outage affecting customers

BB&T cites ‘technical issue’ in outage affecting customers

Millions of BB&T customers were unable to access their accounts after a service outage which the bank blames on an equipment malfunction. The Winston-Salem, North Carolina-based bank posted a statement on its Twitter page saying the problem persiste...
Updated: 7 hours ago
Realtors are ‘every 10 feet’ in Florida but more want in the business

Realtors are ‘every 10 feet’ in Florida but more want in the business

ST. PETERSBURG — Tired of working as a yacht captain, Pancho Jiminez decided to get into real estate even though he knows it’s a highly competitive field in Florida."Realtors are every 10 feet around here," he says.Nonetheless, Jiminez is among 30 st...
Updated: 8 hours ago
Winn-Dixie sells 8 stores after report says owner could close 200 locations

Winn-Dixie sells 8 stores after report says owner could close 200 locations

A week after Bloomberg reported that Southeastern Grocers — the Jacksonville retailer that owns Winn-Dixie and other chains — could be closing up to 200 stores, the company announced it was selling off eight of its Louisiana locations.Texas’ Brooksh...
Updated: 9 hours ago