“Customized. Focused. Dedicated. Safe.”
Customized. Sabal Palm Bank provides a suite of banking services that are customized specifically for the community association industry. We make life easier for property management companies, condominium associations, and homeowner associations. We provide unit owners numerous ways to pay their association maintenance fees and special assessments then we process these payments, ensure they get to the correct account, and finally send vital payment information back to whoever is responsible for accounting for the payment activity.
Sabal Palm Bank also provides loans to community associations to fund annual insurance premiums, general working capital needs, and common area improvements. The bank’s loan process is quick, with 100% of all loan decisions made right here in Sarasota by people who have been lending to associations for over 20 years.
Focused. These services are performed by designated staff who specialize in association banking using expensive, hi-tech equipment to make sure the job is done right.
Anabel Cruz and Tomi Andrews handle the day to day activities of this department. Anabel has been a member of the Sabal Palm Bank family since 2011 and has extensive experience in the area of bookkeeping and accounting. Tomi has been a member of the Sabal Palm Bank family since 2019 and was an on-site community association manager prior to joining the bank. Both Anabel and Tomi maintain their CAM licenses and are the perfect team to take care of our community associations.
Rick Halloran is the Director of Association Banking and the bank’s Chief Lending Officer. Rick has been working with community associations for 20 years, historically managing over 1,000 local association relationships. Rick is a former President and Board Member of the Community Association Institute and began to focus on Community Associations in 1997. Rick directed the development and growth of the association banking division at People’s Community Bank.
Dedicated. Sabal Palm Bank is dedicated to the communities of Sarasota and Manatee Counties. 100% of the bank’s employees live and work in these two counties. All of the bank’s decisions are made right here in Sarasota. Every dollar deposited with the bank helps our communities grow and prosper through loans and investments to individuals and businesses right here in OUR community.
Safe. Sabal Palm Bank maintains a 5-star Bauer Rating which distinguishes us as one of the strongest financial institutions in the country. In 2020, Sabal Palm Bank received an A health rating from DepositAccounts.com.