News / Business
First National Bank of Pasco fulfilling Corporate Social Responsibility even in times of deep recession
In the times of deep recession when even the large US banks are in need of bailout package and have cut down their operating expenditures including community service, the First National Bank of Pasco (FNBP), with its more than adequate reserves, comes out to serve the community fulfilling its corporate social responsibility.
While US government’s assistance to the banks that lack adequate capital reserve comes under harsh criticism, analysts estimate more bailout money for shortfalls may reach $150 billion. In the times of deep recession when many banks in US are compelled to cut down their operational expenditure, which may even include community service, reports show that First National Bank of Pasco’s capital far exceeds the required regulatory levels, which gives them the staying power required to support their customers and community.
The First National Bank of Pasco is not only growing, but also expected to securely carry on their business without having to be bailed out in current crisis situation for banking sector throughout US.
“When a bank fails, it is a blemish on its community and lowers confidence in the financial system…which only hurts businesses in that area,” said Robert Sumner, President of First National Bank of Pasco. “We have a responsibility to support our community so our businesses and organizations can grow, expand and prosper.”
The First National Bank of Pasco is actively participating in its corporate social responsibility of community service. The employees of the bank dedicate their time to volunteer for charities and not-for-profit organizations. The bank annually donates 5% of its annual profits, i.e. about $100,000 to various charities and non-profit organizations operating in Pasco County, Florida area
About First National Bank of Pasco:
First National Bank of Pasco: “Your Hometown Bank” was started in 1986 by Andy P. Gibbs, of Gibbs & Parnell, P.A., a Florida law firm. The bank has three locations in Pasco County – Dade City, South Zephyrhills and West Zephyrhills. FNB Pasco prides itself on being a "high tech and high touch" bank, using technology and online banking to help their customers connect to "Your Hometown Bank" from anywhere. Florida Bancshares, Inc., the holding company of FNB Pasco was formed in 2008. The Bank’s President, Robert Sumner, who also serves on FNB Pasco’s Board of Directors, works closely with Mr. Gibbs and the other Board of Directors to guide and manage First National Bank of Pasco securely into the future for its community. Visit www.fnbpasco.com
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