In the age where large financial institutions open up a branch location seemingly on every street corner in town, another bank is poised to open next week. This one, however, is different in that the top two officers in the Apopka location have served as bankers in town for decades, but never working together.
After competing for business once in a while in Apopka, but at least working in their own domain, David Rankin and Bill Arrowsmith are now teaming up as part of a start-up bank with One Florida Bank poised to open next week with the Apopka branch location at 21 E. Third Street and one in south Orlando at 1601 S. Orange Avenue.
The original bank charter was bought and transferred from a small community bank in Chipley, located in Florida’s Panhandle.
Good friends, Rankin and Arrowsmith, as senior vice president/commercial lenders, will run the Apopka office together after spending more than 30 years working for different banks.
“Bill and I have been friendly competitors for a number of years,” Rankin said. “Not very often did we compete directly for a piece of business, but every now and again, we’d run across some. Bill had his clients and I had my clients, and they all referred business to us.”
Both men are involved in the Apopka community on several levels, Arrowsmith serving for many years as a city commissioner, Rankin somewhat in the background, but still involved. As their friendship grew and the banking industry changed, the pair of community bankers chatted about working together.
Arrowsmith has been in banking in Apopka for nearly 50 years, starting at State Bank of Apopka, which was in Apopka for decades until eventually being bought out in the 1970s.
While Rankin has been with several different banks through the 30-plus years he’s been in banking in Apopka, many of the changes due to buyouts, Arrowsmith has not seen the name on his paycheck change quite as much, although some customers might think so.
The full story appears on page 1A of the March 22, 2019 issue of The Apopka Chief. To read it, pick up a copy at one of many Apopka-area locations or subscribe today.
