Make us your home page
Instagram

Tampa investor Bob Gries wins regulatory approval to buy Southern Commerce Bank

TAMPA — A bank holding company formed by Tampa investor Bob Gries said Monday it has won Federal Reserve approval to buy long-ailing Southern Commerce Bank of Tampa.

Gries Investment Funds created 4830 Acquisition Co. LLC as the vehicle to buy Southern Commerce from Dickinson Financial Corp. of Kansas City, Mo.

Veteran banker Anthony Leo, who is slated to become CEO of Southern Commerce upon approval, said the goal is to build "a top-shelf community bank with diversified sources of revenue." Leo has served as a transitional CEO for several troubled banks and is currently acting CEO of Home Federal Bank in Hollywood.

Southern Commerce has about $80 million in assets and 10 branches, including six locations within Walmart stores.

The acquisition is expected to close in the second quarter.

Times staff

Tampa investor Bob Gries wins regulatory approval to buy Southern Commerce Bank 03/04/13 [Last modified: Monday, March 4, 2013 10:10pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Tampa: Hundreds protest Trump's decision on Jerusalem

    Human Interest

    TAMPA — Hundreds rallied near the University of South Florida on Friday night to protest President Donald Trump's recent declaration that the United States will recognize the divided city of Jerusalem as the capital of Israel.

  2. St. Petersburg chamber of commerce charts 'Grow Smarter' economic development strategy

    Economic Development

    Times Staff Writer

    ST. PETERSBURG — What started more than five years ago as an exploratory conversation among a handful of business leaders blossomed Friday into a full-blown community discussion of how to nurture business while working to make sure St. Peterburg's urban renaissance doesn't leave anyone …

  3. Visit St. Pete/Clearwater makes Orlando tourists a top target

    Tourism

    In a decision driven by some major data crunching, Visit St. Pete/Clearwater next year will focus its tourism advertising on three target markets: Orlando, New York City and its Tampa Bay home.

  4. Gravel spill shuts down parts of northbound Howard Frankland Bridge

    Accidents

    TAMPA — Authorities are cleaning up a load of gravel spilled onto the northbound Howard Frankland Bridge on Friday afternoon, shutting down at least two lanes of traffic.

  5. Appointments at Palms of Pasadena, Moffitt Cancer Center and AMIkids Inc. highlight this week's Tampa Bay business Movers & Shakers

    Business

    Health care

    Mitchell Rubinstein has been appointed chief medical officer for Palms of Pasadena Hospital and St. Petersburg General Hospital. He is the newest member of the senior management teams for both hospitals. Rubinstein has experience in the role, previously serving as vice president of …