celebrated its 13th anniversary today, marking the occasion with a social media gift card giveaway to support local restaurants within each of our markets, as well as gifts for our team.
Progress Bank was formed in 2007 as the only state-chartered, locally-owned and managed bank in Huntsville and Decatur, Ala. The initial leadership team, which has over 120 years of combined banking experience, includes four executives who are still with Progress today.
The strength we derived from our local network and connections allowed us to merge with First Partners Bank in 2017. With the merger, we opened branches in Birmingham, Vestavia and Destin. After gaining experience in the Destin market, we were able to open an additional Florida office in Inlet Beach in 2018.
Due to the continued success of the Florida markets, we expanded our Mortgage division to Northwest Florida in 2019 and opened a new, full-service office in Inlet Beach and Santa Rosa Beach in 2020. To aid in the growth of our loan portfolio and bridge the gap between Birmingham and Northwest Florida, a Deposit and Loan Production Office was opened in Daphne, AL, in Fall 2020.
Our eleven locations and more than 220 employees have helped Progress Bank grow to be one of the strongest in the nation, receiving a 5-star rating from Bauer Financial for consecutive quarters since 2012.