The First National Bank of Mount Dora: A Comprehensive Guide

Introduction

The First National Bank of Mount Dora (FNBD) is a community-oriented financial institution that has been serving the Mount Dora, Florida, area for over a century. With its commitment to customer service and financial well-being, FNBD has established itself as a trusted banking partner for individuals, families, and businesses alike.

History and Growth

FNBD was founded in 1907 by a group of local businessmen who recognized the need for a bank that could support the growing community. Over the decades, the bank has expanded its reach, opening additional branches throughout Lake County and neighboring areas. Today, FNBD operates 12 conveniently located branches, providing a full range of banking products and services to its customers.

Financial Performance

As of December 31, 2023, FNBD reported total assets of over $800 million, total deposits of approximately $700 million, and a net income of $20 million. The bank maintains a strong financial position with ample capital and liquidity ratios that exceed regulatory requirements.

Products and Services

FNBD offers a wide variety of financial products and services tailored to meet the diverse needs of its customers:

Personal Banking

• Checking accounts
• Savings accounts
• Money market accounts
• Certificates of deposit
• Home equity loans
• Personal loans
• Credit cards

Business Banking

• Business checking accounts
• Business savings accounts
• Business loans
• Lines of credit
• Merchant services
• Treasury management services

Investment Services

Through its partnership with FNBD Wealth Management, customers can access a range of investment products and services, including:

• Investment management
• Retirement planning
• Trust services
• Insurance

Community Involvement

FNBD is deeply committed to supporting the community it serves. The bank actively participates in local organizations and initiatives, including:

• Mount Dora Chamber of Commerce
• Rotary Club of Mount Dora
• United Way of Lake & Sumter Counties
• Mount Dora Historical Society

Why Choose FNBD?

There are numerous reasons why individuals and businesses choose FNBD as their financial institution:

• Local Ownership and Decision-Making: FNBD is locally owned and operated, allowing for prompt and responsive decision-making.
• Exceptional Customer Service: The bank's friendly and knowledgeable staff is dedicated to providing personalized service that meets the unique needs of each customer.
• Strong Financial Position: FNBD's solid financial foundation ensures the safety and stability of its customers' deposits.
• Wide Range of Products and Services: FNBD offers a comprehensive suite of financial products and services to cater to the evolving needs of its customers.
• Community Involvement: The bank's commitment to the community demonstrates its dedication to supporting the well-being of its customers and the region as a whole.

Tips and Tricks for Banking with FNBD

• Utilize Online and Mobile Banking: FNBD's convenient online and mobile banking platforms allow customers to manage their finances securely and efficiently from anywhere.
• Explore Wealth Management Services: For those seeking investment advice and guidance, FNBD's Wealth Management team can provide personalized solutions to meet financial goals.
• Take Advantage of Community Involvement: FNBD's participation in local events and organizations offers opportunities for customers to connect with the bank and support their community.
• Leverage Business Banking Services: Businesses can maximize their financial performance with FNBD's tailored business banking solutions, such as merchant services and treasury management.
• Attend Community Banking Seminars: FNBD hosts educational seminars and workshops to empower customers with financial knowledge and insights.

Step-by-Step Approach to Opening an Account with FNBD

1. Visit a Branch or Website: You can visit any FNBD branch or go to the bank's website to initiate the account opening process.
2. Gather Required Documents: Be prepared to provide identification documents, such as a driver's license or passport, and proof of address.
3. Complete Account Application: Fill out the account application accurately and provide all necessary information.
4. Fund Your Account: Once your application is approved, you can fund your account with a check, cash, or electronic transfer.
5. Access Your Account: You will receive login credentials for online and mobile banking, allowing you to manage your account conveniently.

Pros and Cons of Banking with FNBD

Pros:

• Local ownership and responsive decision-making
• Excellent customer service and personalized attention
• Strong financial position and secure deposits
• Wide array of financial products and services
• Active community involvement and support

Cons:

• May have slightly lower interest rates on deposits compared to larger national banks
• Fewer branch locations compared to some regional or national banks
• Limited availability of certain investment products and services

FAQs

1. What are the hours of operation for FNBD branches?
* Most FNBD branches are open Monday through Friday from 9 am to 5 pm and Saturday from 9 am to 12 pm.

2. How do I report lost or stolen debit or credit cards?
* Report lost or stolen cards immediately by calling the number on the back of the card.

3. What are the fees associated with FNBD checking accounts?
* FNBD offers various checking account options with different fee structures. Contact a branch representative for specific details.

4. Can I access my FNBD account online or through the mobile app?
* Yes, FNBD provides free online and mobile banking services to its customers.

5. How do I change my address on file with FNBD?
* You can update your address by visiting the bank's website or contacting a branch representative.

6. What investment products and services does FNBD offer?
* FNBD Wealth Management provides a range of investment products and services, including mutual funds, ETFs, and customized investment strategies.

7. Is FNBD a member of the FDIC?
* Yes, FNBD is a member of the FDIC, which insures deposits up to $250,000 per depositor.

8. How do I apply for a mortgage with FNBD?
* Contact a loan officer at a FNBD branch or visit the bank's website to start the mortgage application process.

Tables

Table 1: FNBD Financial Performance

Table 2: FNBD Products and Services

Table 3: FNBD Branch Locations

Conclusion

The First National Bank of Mount Dora