Bank branch to open in Land O’ Lakes

First National Bank of Pasco is expanding into the growing markets of central Pasco County.

Bank officials filed an application to open their first Land O’ Lakes branch at the northeast corner of State Road 54 and Livingston Road, according to records filed with the Office of Comptroller of the Currency.

It will be the fourth office for First National, which opened in Dade City in 1986. Two other offices are in Zephyrhills, in eastern Pasco.

The site for the new branch is adjacent to Terra Bella, a master-planned community of single family homes and a recently completed apartment complex, Alta Terra Bella. And, Tampa Premium Outlets, The Shops of Wiregrass and The Grove in Wesley Chapel are all part of the swirl of development activity along State Road 54 and State Road 56.

“We think it’s a very strategic location for high growth,” said Steven Hickman, president and chief executive officer of First National Bank of Pasco.

Hickman said other locations would be considered for future expansion.

The comment period on the bank’s application ended March 3. Bank officials also have met with county planners to discuss permitting and construction of the bank branch.

Closing on the property is expected by the end of April. Construction would take about a year for a bank branch that will cater to a changing customer base that includes the Gen Y, or millennial generation.

“It’s not going to look like one of our traditional branches in Zephyrhills or Dade City,” Hickman said.

Traditional teller lines will be eliminated, replaced with “universal” employees prepared to help with myriad of banking, insurance or wealth-management needs.

The number of customers opting for online and mobile phone banking services is increasing, particularly among millennials born between 1982 and 2000. And, traditional brick-and-mortar banking isn’t as attractive to young people who grew up in a totally digital world.

The First National branch will be full service, but its customers can opt for as much or as little personal service as they want.

“It’s all going to be a new approach for us,” Hickman said.

Virtual banking is a choice but, he said, “It’s a higher touch if the customer wants it.”

First National of Pasco opened in 1986 in Dade City. The bank reported assets of $137 million and net income of $529,000 in 2015, according to documents filed with the Federal Deposit Insurance Corporation (FDIC).

Published March 9, 2016