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October 22, 2020
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Daily Record JACKSONVILLE
THE BANKING ISSUE
Amazon adding 10th area facility
Daily Record ON TRACK FOR GROWTH JACKSONVILLE
Florida Capital is taking advantage of a hot mortgage and warehouse lending market.
Daily Record Daily Record JACKSONVILLE
The city is reviewing a permit for Hillwood to build a $40 million warehouse at Cecil Commerce Center. BY KAREN BRUNE MATHIS EDITOR
JACKSONVILLE
Photo by Katie Garwood
“The mortgage market is probably the hottest mortgage market that I can recall in my 40 years,” says Florida Capital Bank President and COO Mark Johnson. He leads one of two banks headquartered in Jacksonville.
BY KATIE GARWOOD STAFF WRITER
F
lorida Capital Bank, one of only two banks along with TIAA headquartered in Jacksonville, started 2020 coming off its best year since opening in 2004. Despite the pandemic, President and COO Mark Johnson said this year is on track to be better, attributing growth to several lines of business: mortgage lending, warehouse lending and commercial real estate loans. “(2019 and 2020) have been very conducive to a good mortgage markets,” Johnson said. “And so we’ve been able to take advan-
tage of that.” Last year, the bank’s assets totaled $454.7 million. At the end of this year’s third quarter, Johnson said the bank had $530 million in assets. The bank did more than $4 billion in warehouse lending last year, and is on track to break $3 billion in that area in 2020. Through warehouse lending, Florida Capital provides lines of credit to smaller mortgage bankers. Johnson estimates about $1.5 billion in mortgage lending in 2020, compared with $1.1 billion in 2019.
MORE BANKING n The “secret sauce” for Truist, the bank created by the merger of BB&T and SunTrust. Page 6 n The market: What area banks have the most deposits. Page 7 n TIAA: The last big bank with a Jacksonville HQ. Page 8 n Where local companies got their PPP loans. Page 9
SEE FLORIDA CAPITAL, PAGE 8
Amazon.com’s 10th area facility is in review at AllianceFlorida at Cecil Commerce Center at a construction cost of $40.4 million. The city is reviewing a permit application and plans for JAX9, a code name used by the Seattlebased online retailer. Hillwood, the city’s master developer at Cecil Commerce Center, is the owner of the project, shown as a 278,237-squarefoot industrial building at 13450 Waterworks St. The Conlan Co. is the contractor for the single-story warehouse building with an office area and break room. Plans show 261,321 square feet of warehouse space and 16,916 square feet of office space. The permit and plans do not say what type of Amazon center it is. The company operates large fulfillment centers, generally about 1 million square feet, as well as sortation and delivery facilities that are smaller. Amazon already operates a 1 million-square-foot fulfillment center at AllianceFlorida. Dallas-based Hillwood has been working on the project on Parcel F at the West Jacksonville business park. Hillwood filed civil engineering plans with the city Sept. 28 for the distribution warehouse on 37.53 SEE AMAZON, PAGE 10
THE BASCH REPORT
CIT Group, First Citizens announce merger deal Jobs expected to stay in Jacksonville. PAGE 11 VOLUME 107, NO. 239 • TWO SECTIONS