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of business in Jacksonville, Florida. On September 28, 1996,
Barnett Bank of Southwest Florida and Barnett Bank of Pinellas
County were merged into Barnett Bank, N.A., a subsidiary of
Barnett.
Barnett's Strategic Plan for Increased Market Share in Florida
During the taxable years 1985 to 1988, the stated mission of
Barnett, a bank holding company, was to provide the highest
quality of services and to use every opportunity to enhance its
position as the preeminent financial institution in the State of
Florida and as one of the leading financial institutions in the
Southeast. The State of Florida was Barnett's primary focus for
expansion and growth. One of Barnett's strategic goals in 1985,
1986, and 1987 was to increase its market share of total deposits
in all Florida financial institutions. In 1983 and 1984, savings
and loan institutions accounted for more than 50 percent of the
deposit market share in the 10 largest counties in Florida,
including Pinellas County, Hillsborough County, and Sarasota
County. In 1985, the savings and loan institutions accounted for
more than 50 percent of the deposit market share statewide. In
1985 and 1986, 11 of Florida's top 15 largest financial
institutions in terms of total assets were savings and loan
institutions.
In the first quarter of 1986, Barnett announced that it had
reached separate agreements to acquire United First Federal and
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Last modified: May 25, 2011