Directing Success

Directing Success

By David Wexler

Associate Editor

Neil McCurry has always lived by the saying, "If somebody else can do it, why can't I?" In 1998, after working at NationsBank and Liberty National Bank and serving as senior vice president of Premier Community Bank in Venice, McCurry took those words to heart. The Bradenton-raised McCurry talked with local bankers about what it took to start a bank, hired a consultant and on Oct. 4, 1999, he launched a community bank of his own, People's Community Bank of the West Coast. He was 33.

Many local business leaders questioned McCurry's thinking because of his age and inexperience.

"People were like, 'You can't do it. You're crazy. It's never going to happen,'" says McCurry, president and chief executive officer of People's. "I certainly had plenty of people telling me that I was dreaming. People would look at me and say, 'Where's the boss?' They would say, 'Come back in 10 years when you're a bit older.' "

Six years hence, he has proven the naysayers wrong.

Since the launch of People's, the bank has grown to $255 million in assets, $200.6 million in deposits and capital of $20.6 million. For the first eight months of the year, its after-tax earnings were $1,566,891.

The company expanded into Manatee County last year with an office on Manatee Avenue in Bradenton. In May it added a branch in Venice. People's has more than doubled its staff over the past two years, from 22 in 2003 to 50 this year.

When he's not hustling to make loans, McCurry, 40, is active with the Sarasota Film Festival, an annual 10-day event held at Regal Cinemas Hollywood 20 in downtown Sarasota. He currently serves as president.

"I've spent my whole life trying to do things that people said I couldn't do," says McCurry, who once competed in the grueling Hawaiian Ironman Triathlon and spent two summers backpacking in an Alaskan tundra.

Dream come true

Even in grade school, McCurry had aspirations of becoming a professional banker. He hoped to follow the path of his father, who was a successful banker.

McCurry, a graduate of Manatee High School, earned his bachelor's degree in finance from Florida State University before pursuing a master's degree from Wake Forest University.

When he left Premier Community Bank in 1998, he set out to create a bank that was different than the traditional bank setting.

"I think a lot of people have this perception of what a bank and bankers are," McCurry says. "I wanted to try to create a bank that's different from the profile."

To separate his bank from the pack, McCurry focused on the same attributes that all bankers tout: providing superior quality customer service and an inviting atmosphere for its customers.

"I always said, 'I don't want it to feel like a library when you walk in,' " McCurry says. "I want it to make you feel like you're in a living room."

Unlike many of its competitors, People's handled all of its data processing in-house rather than outsourcing.

"The only thing that mattered to me was our customers," McCurry says. "If we did it ourselves, what we knew is that we could still make mistakes, but we could literally stop the presses if there was a mistake because all of our checks are processed in our banks. We have a secured room with racks and racks of servers. We've hired a full-time technology person. It's harder to do it and more expensive, but it's really paid off as far as customer service. It really pays dividends."

"He's very driven and passionate," says Chris Pennewill, senior vice president and city executive of his boss. "His attitude has always been if the competition is going to get in at 6 a.m., he was going to get in at 5:30 a.m. Some of that might have been having to prove everybody wrong, but at the same time, I think that's the kind of person he is. His energy and passion is really infectious to the other staff members. I think that's one of the main reasons for our success."

The bank has carved its niche in the market by focusing on small businesses, entrepreneurs and condominium and homeowners associations.

It handles about 30,000 residents tied to associations, McCurry says. "We do our computer interface with various property managers so we can handle association payments, special assessments, association loans and interact with the board of directors on annual budgeting for associations."

Future growth

McCurry isn't slowing down much these days. The bank has raised $20 million in additional capital on top of the $5 million it used to open People's in 1999.

In 2001, the bank formed a holding company to fuel its future growth and expansion, called People's Community Bancshares. The bank's 300-plus stockholders - all residents of Sarasota and Manatee counties - own the holding company. Over the next three years, McCurry plans to add additional branch locations in the eastern part of Manatee and Sarasota County, east of Interstate 75.

"When we started the bank, I really wanted to focus on Sarasota and Manatee County," he says. "I grew up in Bradenton and live in Sarasota, so I knew the two areas well. I knew even back in '98 and '99 that they were great markets. The markets have only gotten better and better. Also, the communities are getting bigger and bigger. One location in each city can't adequately service all the businesses and residences."

The number of services that People's offers its customers has also grown since the bank was launched. McCurry meets monthly with the bank's research and development team, where they discuss ideas for new products. His goal is to roll out at least one new service every year. "Every 100th idea turns into this great, new niche product that's rolled out and well received by our customer base," McCurry says.

Earlier this year, People's launched its health savings account. It also offers self-directed IRAs, which allow customers to invest their IRA money into real-estate investments. People's next big service is its 1031 exchange service, which McCurry says will likely roll out by the end of the year or early next year.

Banker 'Possessed' by Film Bug

McCurry is far from the staunch, button-down bank CEO. He played electric and bass guitar in a band that used to perform at charitable events in the area. He even opened for Rick Derringer during the Sarasota Film Festival a few years ago.

In June, McCurry completed the filming of his first independent film, called "Possessed," a 20-minute horror/thriller that he wrote and directed. The film, which he financed himself through McCurry Films & Distribution, is set to premier in October at the Eerie Horror Fest in Erie, Pa. McCurry Films & Distribution is also a sponsor of the 2005 Halloween Horror Picture Show.

"Most people around here don't know people that start a bank, and most people don't know people around here who have made a movie," McCurry says. "I've done both, so I get a lot of people that look at me like, 'How did you do all that?' "

He insists the banking part is much harder than the filmmaking.

"Directing a movie is not much different from running a company," he says. "You have a lot of people around you and you need to have somebody to make sure that everybody is moving in the same direction. It's not the director who is the creative person or the talent with the camera. All he's really doing is just making sure everybody is moving in the same direction at the same speed."

McCurry's interest in filmmaking stems from his childhood, when he used to take the bus to Sarasota Square Mall on Saturdays and sit through two to three movies in a day.

About five years ago, he decided to get involved in the not-for-profit Sarasota Film Festival. He served as its treasurer before being named president in July 2004. He heads the festival's executive committee, oversees board meetings, helps raise funds and organizes community-outreach programs.

You can add paparazzo to McCurry's resume, too.

During the inaugural Sarasota Film Festival in 1999, McCurry spotted Brooke Shields walking past People's temporary banking facility in downtown Sarasota's Main Plaza.

"We were brand new, and we didn't have any money for advertising," McCurry says. "We had this idea to see if we could stop her and get a picture with her in front of the bank with the bank logo in the background, so we can show everybody the picture of Brooke Shields standing in front of People's Community Bank. We had a camera ready the whole week and were staking out, waiting hopefully for her to come back by."

Unfortunately for McCurry, Shields didn't return and he never got the picture.