American Commerce Bank Launches in Florida; Bank Sets Record for Largest De Novo Capitalization in State's History.

TAMPA, Fla. -- A group of prominent Floridians has announced the launch of American Commerce Bank, a state chartered full-service commercial bank that will be headquartered in Tampa Bay. The Bank will initially be capitalized with $100 million, setting a record for a de novo Florida bank.

The entire $100 million has already been fully subscribed by American Commerce Bank's Board of Directors. The board is comprised of many of Florida's most well-respected individuals: From the Tampa Bay area, Lee Arnold, Jr., founder of Colliers Arnold; Dr. Judy Genshaft, President of the University of South Florida; and Mel Sembler, founder of The Sembler Company and former U.S. Ambassador to Italy. From central Florida, Don Adam, Chairman and CEO of The Adam Corporation/Group; Dick Batchelor, former State legislator and founder of Dick Batchelor Management Group, Inc.; John Mills, Vice President & Florida Regional Manager of Brasfield & Gorrie; and James Pugh, founder of Epoch Properties, Inc. From Naples-Fort Myers, Dr. Allen Weiss, President of the Naples Community Healthcare System.

Don Adam is the lead investor in American Commerce Bank as well as the proposed Chairman and CEO. In addition to having significant experience in banking, Adam has strong business and personal ties to the State of Florida. For nearly 11 years, he has owned and operated through The Adam Corporation/Group a sizable agriculture and livestock operation near Ocala as well as Reliable Reports, a provider of underwriting inspections for property insurers in several states including Florida.

Adam's business and personal experiences in Florida made him aware of the demand in the local banking market for a large independent commercial bank. As he noted, "The major markets in Florida have a lot of large out-of-state banks and small community banks, but a shortage of large Florida-based independent banks. We believe there are many businesses and individuals who would prefer to deal with a large independent bank such as American Commerce Bank. We will have the unique ability to offer the sophistication, product line and capital resources of a larger bank, along with the responsiveness and relationship-based approach of a smaller bank."

The proposed President and COO of American Commerce Bank is Sam Davis. Davis is a veteran Florida banker with 30 years of experience in the industry, including over 20 years in senior executive posts with Barnett Banks and Bank of America. Davis has directly or indirectly managed every banking market in Florida from Pensacola to Key West. He has served as Chairman, President and CEO in several major markets, including in the Tampa Bay and Florida East Coast areas.

During the initial phase, American Commerce Bank will open its headquarters and two branch offices in the Tampa area. After Tampa, the Bank plans to expand into all of Florida's major markets, including Orlando, Naples, Miami, Ft. Lauderdale, Palm Beach/Boca Raton and Jacksonville. American Commerce's target customers reside and/or conduct business in Florida and have credit needs up to $15 million, although initially, the legal lending limit will be up to $25 million to a single borrowing relationship. American Commerce Bank will target real estate developers and investors, as well as other commercial business owners and entrepreneurs in addition to servicing individuals with consumer banking needs.