Professional Bank, one of Florida’s fastest-growing financial institutions, has entered the Wellington market with the opening of a new loan production office (LPO) in the Chancellor South Building at 12008 South Shore Blvd., Suite 108.
A loan production office is similar to a full-service branch in that customers will be able to open accounts, make deposits, apply for loans and conduct practically any other type of business except for those involving cash.
“We see opportunity to expand our business in this part of Palm Beach County,” said Daniel R. Sheehan, chairman/CEO of Professional Bank. “Lee Frankhouser and his team are great additions to Professional Bank, and I am confident they will do well in this market.”
The new LPO will be managed by a trio of veteran bankers who previously worked together at other financial institutions and have established ties to the Wellington business community.
Frankhouser, executive vice president/private banker, will oversee the expansion. He established numerous banking relationships in Wellington when he was president of Davie-based Floridian Community Bank, which later became part of Synovus Financial Corp. Frankhouser is also active in the equestrian community, where he serves on the board of the Vinceremos Therapeutic Riding Center.
Ravi Culbertson, a vice president/private banker, will manage day-to-day operations at the new LPO and spearhead new business development. Culbertson worked as an assistant branch manager at Floridian Community Bank, an assistant vice president at Florida Community Bank and most recently a market manager at Synovus prior to joining Professional Bank. She is active in the Wellington Chamber of Commerce, is a board member of the Wellington Rotary Foundation and a member of the Business Builders Network.
Joining the pair is Kelly Donado, an assistant vice president/private banking associate, who has worked closely with Frankhouser and Culbertson in the past.
“We are bringing a high-touch, private banking experience that we feel doesn’t exist in Wellington and the surrounding communities,” Frankhouser said. “We see an opportunity to talk to businesses large and small, and individuals, who desire something different than what the big banks in the region currently offer.”
In addition to Wellington, Professional Bank operates a loan production office in West Palm Beach, as well as a newly opened office in Doral. The bank operated one in Boca Raton, but recently replaced it with a full-service branch a few miles away in downtown Boca. The bank recently opened a branch in the Dadeland-Pinecrest area as well.
This latest expansion comes at a time when Professional Bank is hitting an intense growth period. During the second quarter of 2019, the bank neared $900 million in assets for the first time and most recently announced a merger with Marquis Bank. In December 2018, Professional Bank’s parent company raised $20 million in new capital that is being used to invest in new talent, technology and locations.
Founded in 2008, Professional Bank operates full-service branches and loan production offices in Miami-Dade, Broward and Palm Beach counties.
For more information, visit www.myprobank.com.