NewStar to snap up Southern Commerce Bank - Tampa Bay Business Journal:

ogarawo.wordpress.com
In turn, NewStar is likelhy to add branches and workers at Southern Although Southern Commerce has been one of the faster growing banks in the Tampa Bay area in the pastthreer years, there’s still lots of room for expansion, said Timothg Conway, chairman and CEO of NewStar. NewStare (Nasdaq: NEWS), a Boston-based specializesd commercial finance company, is on the cutting edge of a Nonbank financial services firmz increasingly are looking to transform their businessz models intobanking companies, a move that ensuresd they have a relatively inexpensive and stable source of moneuy to loan out, as well as more productd and services to offer their customers.
The background of NewStar’sz executives — who are from financial institution s suchas (now part of ), and should serve it well, as regulators look at more nonbanlk acquisitions of banks, Conway said duringb a June 3 presentation to analystws in New York. “What they want is commercial bankerd who understand traditional commercial banking and will operats the banks they buy and invesyt in like traditionalcommercial banks.
”