Mercantile to Start Bank

Sunday Seminole
Section J
Sunday, March 23, 2008
Orlando Sentinel

Business Briefcase

Mercantile to Start Bank

Mercantile Commercial Capital LLC of Altamonte Springs, which specializes in U.S. Small Business Administration 504 loans for small-business owners, plans to launch Emergent National Bank late this year.

“This is the natural extension for Mercantile Commercial Capital,” said Mercantile Commercial Capital chairman Geof Longstaff. “This will solidify our place as one of the nation"s leading SVA 504 lenders and give the bank a real ‘head start" by merging Mercantile"s loan portfolio and operations into the bank.”

Shannon Marks, who has 20 years of banking experience, will serve as president and chief executive officer of the bank. Christopher G. Hurn, president of Mercantile Commercial Capital, will be senior executive vice president and run the government lending division as well as the combined entity"s marketing strategies.

Longstaff, who will be chairman of the new bank, has more than 38 years of experience in banking and has been president of four national banks. He said the bank will focus on real-estate lending and small business loans.

The bank will be based in Winter Park.

Mercantile to Start BankSunday Seminole- 03/08