CORE Construction Florida began the structure, as term has it from it’s President, John Wiseman. Core Construction is a national contractor that has offices in Florida, Arizona, Illinois, Nevada and Texas. An investment group which is headed by doctors at Intracoastal Medical Group, in Sarasota, funded this project. 13 million to build. Intercoastal Medical Group has 24 offices in the counties of Manatee and Sarasota. When visiting you will be able to get your coffee at Starbucks, at 5191 Clark Road. This Starbucks is 0.3 kilometers west from this future assisted living facility south. This isn’t at a signalized corner but a very nice location to possess Commercial Real Estate. BMW Southpointe is situated very by at 5151 Clark Street close.

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In the fantastic state of Illinois, we’ve about 520 banking institutions. The only condition with more banking institutions is Texas. This is actually the legacy of the archaic device banking laws in Illinois – branch bank was specifically prohibited under the Illinois condition constitution for most years . Unrestricted branch banking wasn’t legal in Illinois until 1993!

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Not surprisingly, many of these small legacy banks are struggling – there are 40 Illinois banks that are at the mercy of severe regulatory enforcement activities. Illinois ranks second (directly behind Georgia) for stressed banks. There is a minimum efficient level in banking. 1 billion of resources is nearly certainly smaller than the minimum efficient scale.

Soaring regulatory compliance costs, intense technology/security issues and ferocious competition from multiple resources (bank or investment company and non-bank) makes it very difficult to survive as a small bank. That is why the true amount of banking institutions in the U.S. Since I am a mergers and acquisitions investment banker, I often get accused of promoting my economic self-interest when I say that owners of small banks should sell ASAP. There are other voices from different walks of life that say the same thing, however.

Richard Hunt, CEO of the Consumer Banking Association, was just interviewed in the American Banker – he said that one in six banking institutions will have to merge to improve the health of the rest of the banks. I truly believe that this consolidation is unstoppable. Industry consolidation is what will keep community banking viable in the real face of persistent threats such as the economy, regulation and technology. That’s the view of Richard Hunt, president and leader of the Consumer Bankers Association.

To be certain, Hunt isn’t a cheerleader for a new influx of mergers; rather, he views loan consolidation as a required evil even as community banking institutions get healthier. “The small banks have been suffocated with regulation,” Hunt said in an interview. “I’m not jumping and down for consolidation up. Hunt’s attitude seems to contrast with past public comments from Camden Fine, president and leader of the Independent Community Bankers of America.

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