First National Bank of the Gulf Coast in Naples, Fla., will change its name when it becomes a state-chartered bank.
The $864 million-asset unit of TGR Financial (TGR) will become First Florida Integrity Bank on June 28 when it converts from a national charter.
The Florida Office of Financial Regulation will serve as the state regulator for First Florida Integrity, while the Federal Reserve Bank of Atlanta will act as the federal regulator. First Florida will remain a member of the Federal Deposit Insurance Corp. TGR Financial will continue to be regulated by the Fed.
"This change will be seamless for our customers as all of our products and services will remain the same," Gary L. Tice, the bank's chief executive, said in a press release. "The change from a nationally chartered bank to a Florida state charter enables us to grow more efficiently. We are looking forward to working with Florida regulators, who are closer in proximity to us as compared to regulators in Washington, D.C."