Local Banks Understand Local Market Risks

4 Feb, 2008 | Written by clipmonkey | under Florida Mortgage

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Perhaps these mortgages will actually be for real property. Maybe the loan officer might even visit the property?

Orlando-area community banking startup rakes in capital, officials say

Right out of the gate, a new bank being formed in Orlando has landed millions of dollars in startup capital despite the turbulent financial markets, organizers said this week.

Founders of New Traditions National Bank have raised more than $3.5 million, or about 23 percent of their baseline capital goal, according to David Dotherow, a veteran local banker who is leading the effort.

“Actually, I think it’s the perfect time to start a bank,” he said. “The beauty is that we get to see which loans out there in the community were good ones and which ones weren’t. We get to start fresh and bring on the types of loans that have performed well in this down market.”