Press
Community First expands business banking division
Former 121 Financial Credit Union SVP Davis Johnston joins Community First
JACKSONVILLE, FL (July 14, 2014) — Community First Credit Union, one of the largest credit unions in Florida, announces it has appointed a new vice president of business lending. Davis Johnston joins the credit union after serving as senior vice president of operations at locally-based 121 Financial Credit Union.
Johnston has more than 28 years of financial and banking experience with 20 years of experience in local credit union lending, management and operations. Johnston will lead a team of five from the credit union’s LaVilla headquarters on Lee Street and will serve the institution’s 17 branches on the First Coast. The position reports to Susan Verbeck, SVP of lending, whose team has more than 75 years of loan and financing experience. The VP of business lending gives business owners a partner they can trust to help them navigate and access all the lending and financial services to support and expand.
The creation of this position last year coincided with the organization’s improvement and expansion of the products and services it offers businesses large and small. The comprehensive suite of business products includes all the financial services businesses need including loans, credit card processing, payroll services and mobile banking.
In 2014, the business team increased the credit union’s business loans by 93 percent over 2013 setting a historical record for business loans closed at $14 million. All these loans were made to businesses based in North Florida.
Johnston served as 121 Financial Credit Union’s SVP of operations for 10 years. In addition to managing operations of the branches, call center, business services, collections, sales & service, and business development, he managed 121’s merger with Duval Federal Credit Union. Before joining 121, he held positions with Ent Credit Union in Colorado Springs as well as positions with Florida Telco (121’s former name) and Seaboard Employees Credit Union. He started his career as a banking examiner with the State of Kansas Banking Department and moved to North Florida in 1988 to become a credit union examiner with the State of Florida Banking Department.
During his tenure at 121 Financial Credit Union, Johnston is credited with helping increase the organization’s total assets by 43 percent to nearly $500 million. His position was second executive and he served as acting CEO when necessary. Johnston currently serves on the board of the Northeast Florida Credit Union Chapter of the League of Southeastern Credit Unions as well as the board of directors for Jacksonville-based Pine Castle. He holds a bachelor’s degree in finance from Pittsburg State University of Kansas.
Community First Credit Union of Florida is a state-chartered credit union based in Jacksonville serving anyone who lives or works on the First Coast. Community First is one of the 10 largest credit unions in the state, serving more than 109,000 members and with assets of $1.4 billion. Community First has 17 locations and 300 employees. A not-for-profit, Community First is a full-service financial institution offering banking, loans, mortgages and investments for consumers and businesses throughout the First Coast.