September 27, 2019
(Courtesy: Jax Daily Record)
Cogent Bank, a state-chartered bank which is expanding from its Volusia County roots, is building its first Jacksonville branch that is expected to open by the end of September.
The bank was founded in 1999 in Orange City as Pinnacle Bank, according to Federal Deposit Insurance Corp. data. It changed its name to Cogent a year ago.
Cogent opened its second branch in Orlando in June, the FDIC said.
The bank reported assets of almost $200 million and deposits of about $160 million as of March 31.
Market President Scott Allan Flanders said in a news release Cogent intends to be “a community-focused financial institution” serving Jacksonville.
The bank said in a news release its office at 5011 Gate Parkway will serve as the Jacksonville executive and commercial lending team’s headquarters.
The city issued a permit Friday for Dav-Lin Interior Contractors to build-out 4,124 square feet of space for Cogent at a cost of $330,708.
It will lease in the Carlton Building in JTB Center.