New community bank names two executives

SARASOTA — Gulfside Bank, a new community bank in Sarasota, named Thomas Martin executive vice president and senior lending officer and Jeff Saunders executive vice president and CFO.

Martin has worked in lending and administration, most recently with First Citizens Bank, according to a press release. He has worked in the market for over 25 years. At Gulfside Bank, he will manage all aspects of the bank’s lending functions, including loan production, credit administration and loan operations.

Saunders has been a bank accounting officer for over 25 years. Prior to his role at Gulfside Bank, he was CFO and COO of HomeBanc.

“We’re very proud to have two seasoned bankers who know this community join the team,” Gulfside Bank President and CEO Dennis Murphy says in the statement. “Both come with a vast array of experience working with banks of various sizes throughout their careers.”

Gulfside Bank will be capitalized at $23.5 million, raised from 248 local investors, the release says. The bank is expected to open in November in downtown Sarasota.