First Green Bancorp in Orlando, Fla., has recruited a familiar name in Florida to run its bank.

The $420 million-asset company said in a press release Thursday that Keith Costello, who formed Broward Bank of Commerce in Fort Lauderdale in 2009, will succeed Ken LaRoe as chief executive of First Green Bank.

LaRoe, who also founded First Green in 2009, will remain the company's CEO, focusing on acquisitions and other expansion plans.

Costello and LaRoe were granted Florida's last two charters when they opened their banks.

Costello sold the $169 million-asset Broward Bank of Commerce to Home BancShares in Conway, Ark., the parent of Centennial Bank, for $33 million in October 2014. Following the bank's sale, Costello served as a division president for a year, according to his LinkedIn page.

"Due to the continued growth of First Green Bank, I felt it was necessary to add a chief executive … to our team in order to take the bank to the next level," LaRoe said in Friday's release.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.