Paradise Bank

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Ward Kellogg, CEO and chairman of Paradise Bank, and William J. Burke, the bank’s president and COO

Paradise Bank 
Boca Raton, Fla.
2013 ROA: 1.90 percent
2013 ROE: 20.82 percent
Assets: $306 million
Employees: 46
Retail locations: Three
Website: www.paradisebank.com

What makes your community bank stand out?

Kellogg and Burke: Paradise Bank offers a very high level of personal service in a small private bank atmosphere that is a collective dream of its executive managers, who each have more than 30 years of banking experience in South Florida. Paradise Bank is also a Subchapter S corporation bank and was set up as a long-term hold for our shareholders. This means we are one of the few banks in our region with no plans to sell.

This long-term approach is incorporated into all of our decisions including business development, credit, personnel and service delivery. This formula results in long-term multi-generational customer relationships through a traditional community bank atmosphere.

How is your bank continuing its strong performance?

Kellogg and Burke: Being a good listener is paramount. We constantly solicit feedback from our customers, prospects and regulators. This active listening resulted in Paradise Bank adding several services over the past couple of years, including small-business lending, residential lending, estate planning and life insurance, property-and-casualty insurance and employees’ benefits.

The key to success with incorporating any newer service is an understanding of the risks to the enterprise, and having our sales force (every employee, manager, board member) treat all of these services as “core” banking answers to our customers’ needs. This means no product or process silos in Paradise Bank.

The best example of this is our Small Business Administration loan underwriting and approval process. SBA loans follow the same stringent credit committee scrutiny as our conventional loans. This results in uniform credit quality throughout the Paradise Bank portfolio.