The bank is currently trying to garner a share of the home equity lending business in Florida, according to the company's prepared statement.
Undetermined is how successful Marketplace will be in any of its loan activities by operating in small branch locations within a grocery facility, industry observers tell GlobeSt.com.
"They are doing well on deposits because people are used to going into conventional banks and doing business that way but taking out a loan in a confined grocery story environment may be another matter," a local mortgage banking industry player tells GlobeSt.com on condition of anonymity.
The bank's assets are $506 million with equity capital of $445 million. Marketplace, based in suburban Maitland, FL, is part of the CIBC National Bank family which is owned by Toronto-based Canadian Imperial Bank of Commerce.
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