FORT LAUDERDALE, Fla., September 16, 2021 – Locality Bank IO, a digital-first community bank, is pleased to announce they have named Michael Lundy as Senior Vice President and Director of Loan Operations, Cindy Sheppard as Senior Vice President and Chief Risk Officer, and George Edward Bishop as SBA Director.
The digital-first community bank has recently received a Final Order of Approval from the Office of Financial Regulation in Florida to open a state-chartered bank in Fort Lauderdale, Florida. Serving Miami-Dade, Broward, and Palm Beach Counties, the bank’s digital services will be available through a mobile application set to launch in the first quarter of 2022. Services will include commercial banking, commercial real estate lending (for owner occupied and investment), SBA lending, and deposit and business treasury services.
“The growing Locality Bank team has the experience to revive community banking in South Florida,” said Keith Costello, CEO & Co-Founder of Locality Bank IO. “Our goal is to empower local businesses to grow with capital from a community bank. We want to provide a digital-first community banking option to local businesses, entrepreneurs and business owners moving to the area, and this will ultimately impact our local economy in a very positive way.”
Michael Lundy joins Locality Bank IO as Senior Vice President, Director of Loan Operations. Over the last 15 years, Mike has held numerous leadership roles in banking focused on loan service delivery and portfolio monitoring. Additionally, Mike has served on various business oversight committees including Risk Management, CRA and Compliance. Mike lives in Winter Park, Florida and enjoys traveling, gardening, and entertaining family and friends.
Cindy Sheppard joins Locality Bank IO as Senior Vice President and Chief Risk Officer. A community banker with 40+ years in South Florida, serving local businesses and personal retail banking clients. Cindy will serve as the bank’s BSA, Compliance and CRA Officer, and manage the audit and compliance functions. Cindy is an active member and the immediate past chair of the Women’s Chamber Foundation of Palm Beach County, and a member of the Kiwanis Club of Palm Beach Gardens. Her personal passions are family and travel.
George Edward Bishop has been named as Locality Bank IO’s SBA Director. Ed comes to the team with more than 25 years of banking experience. He has been a Business Banker, Business Banking Manager, and Regional Executive with Bank of America, Wachovia Bank, and BankUnited. He specializes in assisting businesses in meeting their financial needs. He has been active in the South Florida market and has successfully built key customer relationships and increased market share through promoting a customer-centric culture. Both he and his wife, Lisa, are active in volunteering in the community. In his spare time, he enjoys bicycling, jogging, hiking, and traveling.
Locality Bank IO will operate on a secure cloud-native core banking system with an open API architecture. This modernized system will allow fast iteration and new technological additions to provide a robust and engaging customer experience.
Aimed at empowering local businesses to maximize their potential, Locality Bank IO has a pending application with the Federal Deposit Insurance Corporation (FDIC) and plans to launch their bank by first quarter of 2022.
To stay up to date on the launch of Locality Bank IO in Fort Lauderdale, Florida visit https://www.localitybank.com.
About Locality Bank IO
Locality Bank IO is a digital-first community bank in organization that will be based in Fort Lauderdale, Florida. The bank will serve small to medium sized businesses by offering the traditional services of a community bank as well as user friendly, cutting edge technology. To learn more, contact Locality Bank IO at https://www.localitybank.com or via email at email@example.com.