News
June 1, 2004
Sabal Trust Partners with Villages Bancorporation, Inc to Open Location at The Villages
ST. PETERSBURG, Fla. – Sabal Company would like you to know that we have been selected to open a new investment management and trust services company in The Villages, Florida, in partnership with Villages Bancorporation, Inc.
The new firm – Citizens First Trust Company – will be the first and exclusive investment management and trust services provider in The Villages, a 55 adult community located one hour north of Orlando. Home to nearly 50,000 residents, The Villages is the largest single site residential community in the United States. It is also one of the fastest growing communities in Florida, and is projected to grow to more than 88,000 residents by 2011.
The new trust company will be located in the Lake Sumter Landing Market Square, the newest retail and entertainment town center in The Villages.
In speaking about their decision to work with Sabal Company, Mike Killingsworth, CEO and President of Villages Bancorporation said, “Because of the size and financial sophistication of our market, we could have partnered with virtually any trust company, but we chose to partner with Sabal Company because of their outstanding reputation in the trust industry, their years of trust experience and their customer service-oriented business philosophy.”
By partnering with Villages Bancorporation to serve The Villages, we can offer all the high quality, personalized trust and investment services that are synonymous with Sabal Trust to a large, vibrant community that has demonstrated sustained growth over the past 25 years. Because of this, we expect Citizens First Trust Company will quickly become a significant contributor to the ongoing growth and success of Sabal Company.
Citizens First Trust Company’s ownership is shared equally by Sabal Company, parent to Sabal Trust of St. Petersburg, Florida, and Villages Bancorporation, Inc., parent company of Citizens First Bank based in The Villages.
Pending state review and approval of the application to establish the new trust company, officials anticipate serving clients as early as October.
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