Naples bank branch hits $300M in assets, opens new office

Cogent Bank’s Southwest Florida unit recently passed two milestones: It surpassed $300 million in assets and moved into a new, 5,000-square-foot centralized office in Naples. 

The Orlando-based bank, with more than $1 billion in total assets, expanded to Southwest Florida a little more than two years ago. “It’s way faster than we thought,” ays Brandon Box, Cogent Bank Southwest Florida market president, of the asset milestone. “When we opened here we knew we would do well, but we have been surprised at how (quickly) people have switched.” 

The bank — one of the only community banks left in Collier County with long-time local bankers — has picked up multiple customers from bigger national and regional banks that have undergone name and other changes, says Box. In addition to the $300 million mark, the bank, according to a statement, has opened over 2,000 business and personal accounts.

The opening of the new office, meanwhile, says Box, will allow Cogent to have all its banking center staff, personal and private banking and underwriting personnel work out of one office. Previously, the team had been spread out among temporary office space. The office has 12 employees with space for more, Box says. 

The office, on the corner of U.S. 41 and Vanderbilt Beach Road, also provides space for the bank to host small events to connect business owners and leaders with other business owners and leaders, something Box says is crucial to building Cogent’s brand in the market. On the overall state of the market, Box, despite some of the clouds nationally, is optimistic — cautiously. “People are being a little more careful,” he says, "but I don’t see a major pullback yet.”