LOCAL TRUST COMPANY EXPANDS BY CHARTERING NEW BANK

LOCAL TRUST COMPANY EXPANDS BY CHARTERING NEW BANK

PALM BEACH, Fla. (May 19, 2021) – Palm Beach-based Trust firm, Cypress Trust Company, announced today, it has raised the necessary capital and received State of Florida approval to expand into banking services. FDIC approval is currently pending. Once received, Cypress Trust Company will convert to Cypress Bank & Trust in early fall. Cypress will remain in Palm Beach, Fla., with additional offices in Melbourne, Jacksonville, Vero Beach, Naples and Winter Haven and banking services offered across the state.

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