David Crochet
July 14, 2009
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July 16, 2009
Coastal Commerce Bank has become one of the fastest growing banks in the Houma-Thibodaux market over the past 10 years, with over $300 million in total assets.
Chief Executive Officer Mark Folse said the total asset growth has been evident since Coastal Commerce opened its first bank in a rental space on W. Main Street in Houma in 1999.
The growth has been steady since then.
It was not until 2006, however, that the bank saw a significant spike in total assets.
Folse said by then, Coastal Commerce had six locations in Thibodaux, Chauvin, Larose and East and West Houma to help maintain its growth potential.
Most recently, Coastal Com-merce was honored for its consistency over the last decade. The ICBA Independent Banker, a national magazine of the Independent Community Bankers of America, tapped Coastal Commerce Bank as a “Top Performer” in its 2008 listing of top-earning community banks.
“This was a surprise to us all,” Folse said. “I was looking through the ICBA and saw our name under the ranking. It’s great recognition of our hard work, and that our market has held up even with the downturn of the economy.”
The magazine recognized Coastal Commerce Bank for posting one of the best year-end earnings performances among community banks with $250 million to $500 million in assets.
Coastal Commerce Bank was ranked 14th out of 20 banks with more than $340 million in assets.
According to Folse, this is the first time Coastal Commerce has been positioned among the top 20 Subchapter S corporation community banking systems. He said the ICBA Independent Banker identified Coastal Commerce Bank based on the standard industry performance measures of return on average assets and return on average equity.
Karen Tyson, ICBA senior vice president of communications, said in a release, “Community banks are integral parts of the economic and civic fabric of thousands of towns and cities across America.
“In addition to offering the quality financial products and services their customers need, community banks like Coastal Commerce spend countless hours and resources helping their communities thrive,” she added. “ICBA congratulates Coastal Commerce Bank for serving its community so efficiently and effectively.”
Coastal Commerce Bank is a homegrown company that was started to give locals another community banking option.
At the bank’s inception, it was Folse, who served as general counsel for the Louisiana Banker’s Association for years, and his father, retired Houma banker L.J. Folse, who started the bank.
“We wanted to start Coastal Commerce Bank because we felt it was a niche in the community banking industry that was not being fulfilled in the area,” Folse said. “We felt that if we could tap into the market that we would be successful. And that has proven to be the case.”
Today, the majority of the bank’s shareholders live in Lafourche or Terrebonne parishes.
Folse said residents choose Coastal Commerce Bank because it is dedicated to exceeding the expectations of its customers, both of the commercial and retail services it offers.
“Coastal Commerce has quickly earned a reputation for exceptional customer service that has allowed us to consistently outgrow the competition,” Folse said. “We have a proven track record that continues to draw customers to our winning team.”
All six Coastal Commerce branches offer full-service banking. Customers have access to the best bankers in the business, in Folse’s opinion.
“We are available and actively engaged in taking care of our customers’ needs,” he said. “We pride ourselves on being accessible to our customers at their convenience, not ours. If they can’t come to us, we go to them.”
Bank associates can file the necessary papers for bank loans; open personal, business or commercial accounts and help customers manage their accounts.
In addition to 24-hour telephone banking, ATM access, credit and debit cards, and overdraft privileges, Coastal Commerce offers corporate cash management and merchant services. Safe deposit boxes for irreplaceable items and documents are also available.
The bank offers on-the-go banking at www.coastalcommerce.com.
And to take the hassle out of “Going Coastal,” Folse said the bank offers customers a “switch kit.”
Teachers and educators are rewarded at Coastal Commerce Bank with an A-plus plan.
In addition to “School Spirit” checks imprinted with a school crest, teachers are eligible for .25 percent off any consumer loan and an additional .25 percent off any consumer loan with an automatic debit.
Teachers also receive free safe deposit boxes at Coastal Commerce Bank.
Coastal Commerce Bank CEO Mark Folse (right) said the bank has a 10-year track record that continues to draw customers to its winning team. Pictured with Folse is Chip Ourso, one of the bank’s original employees, and longtime banker Sharon Bergeron, who came out of retirement to be a commercial lender at the bank. * Staff photo by SOPHIA RUFFIN
