Bay Financial Savings Bank is now
Progress Bank

May 1, 2008

TAMPA – Effective May 1, 2008, Bay Financial Savings Bank has changed its charter from a savings bank to a state-chartered commercial bank and will now be called Progress Bank of Florida.  But the name change is only one of many transformations underway.  The Bank is opening a state-of-the-art location offering cutting-edge retail accounts, a full array of cash management services, and a strong focus on commercial loans.

"Naming ourselves Progress Bank set the bar high for us,” said Tom Rummel, President and Chief Executive Officer.  “But it’s a goal our team plans to surpass everyday.  We couldn’t call ourselves Progress if we didn’t continually strive to charge ahead of our peers.  We call it, “banking forward.”  In today’s competitive market, you have to differentiate yourself to be successful.  We’ve not only done that with our service-focused business model but in our look as well."

Progress Bank of Florida will open its new branch on Monday, June 9th in Bay Plaza, just north of Hillsborough Avenue on Sheldon Road.  The branch will look drastically different from virtually every other bank in the Tampa Bay area.  Instead of a traditional teller line, there will be private workstations where personal interaction between the customers and bankers takes place.  For cash transactions, credit card services, financial professionals on the floor will send money through a pneumatic tube to tellers in a back office area. In the minute or so it takes to handle the transaction, the financial professionals can talk to customers about all of their financial needs.  

Progress Bank has created a unique hybrid of today’s cutting edge technology and traditional high-touch service. The result is a winning combination of convenient and efficient services and exceptional delivery and attention.  Expansion plans include a new location opening on Gandy Boulevard later this year and a minimum of two new locations in 2009.  For more information, please visit

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