Just a few miles from the natural beauty of the world-famous Silver Springs and the spring-fed Silver River, on Ocala’s historic downtown square, the new Silver River Community Bank is about to become a hub of local business.
Locally owned, operated, directed and staffed, this true community bank will be in a unique position to meet the needs of local small- and medium-sized business owners when it opens in the coming weeks in the renovated three-story building at the corner of SE 1st Avenue and Broadway. A full exterior facelift and the addition of a drive-through will modernize this convenient location while preserving the historic structure.
“We believe our community deserves a bank that understands its needs and knows the market,” says President Adam Woods, who has 20 years of bank experience and has called Ocala home since 2003. He explains that both business and individual customers can be better served by “decision makers they see at the grocery store, go to church with or serve with on the board of a local nonprofit.” Because, Woods says, no matter how high-tech banking becomes, “at its core banking is still truly a relationship business.”
Chairman and Chief Executive Officer Jon Kurtz recognized Ocala’s need for a locally headquartered, true community bank as he watched 10 community banks close or sell out over the past decade. With the last of those selling to a large corporation last month, he says the time has never been better to give Marion County residents and business owners a new option. And he should know—Kurtz has decades of banking experience and has worked in Marion County since 1992.
“We have heard from the community and small businesses that they are not able to get the service they need in order to effectively keep their business growing,” Kurtz says. “They are wanting a new community bank to help them meet their needs with local decisions, local people and a local board. Ocala/Marion County has a growing local economy and low unemployment but can’t prosper without local banks. That’s why we have chosen to start Silver River Community Bank.”
High Tech, High Touch
What’s more important in your bank—the latest innovations, like convenient digital banking, paperless statements and mobile deposits? Or personalized service, that gives you in-person access to your banker and great customer service from local employees who know you and have a long history of success in our community?
You no longer have to choose high tech or high touch, because Silver River Community Bank is committed to offering a full range of competitive products while providing superior customer service and high-tech, innovative solutions personalized to meet your banking needs.
“We want to have the feel of a local, small community bank with the power and technology of the big banks,” Woods says. “The banking industry has gotten impersonal, and over time, the customer has become a transaction. We don’t view people as transactions. At its core, banking is still about relationships.”
Investment Opportunities Now Available
“I’m excited to share that we are offering investment opportunities for individuals,” Kurtz says, explaining that, after working for the past year to create Silver River Community Bank, they are now approved to raise capital from investors.
“We would be happy to talk with you about this investment opportunity,” Kurtz says, explaining that the minimum investment is only $5,000, which will enable many local residents to participate in the stock sale and allow their investment to grow with the bank. Larger investors can purchase up to $2 million in stock.
“This is an opportunity for long-term return for owners who want to help grow the future of our community,” Kurtz says, adding that the deadline to purchase stock is August 21 or before, since the initial stock offerings will close once the first 2.1 million shares have been sold. These shares are now available on a first-come, first-served basis.
The complete offering circular and stock order form are available on the bank’s website, but, as is their custom, both Woods and Kurtz are happy to sit down with potential investors for an in-person meeting.
“We love the chance to explain why Ocala businesses need an Ocala community bank,” Kurtz says with a smile. “We invite you to help us grow the best possible bank and change the course of banking in Marion County.”
Silver River Community Bank
405 SE Osceola Avenue, Unit 209, Ocala
Future bank address:
35 SE 1st Avenue, Ocala