By Brian French | JacksonvilleBusinessNews.com | October 18, 2026
Quick Answer
Jacksonville has only two bank headquarters: EverBank, a $47 billion institution, and Florida Capital Bank, a $713 million business-focused community bank. For most small businesses, VyStar and Community First credit unions are the hometown heavyweights. TD Bank, Northeast Bank and Huntington made the most SBA 7(a) loans across the metro in fiscal 2025.
Banking in Florida’s Largest City
Jacksonville is Florida’s most populous city and one of the largest by land area in the continental United States. Its economy is built on logistics around JAXPORT, a major military presence at NAS Jacksonville and Naval Station Mayport, financial technology giants, health care anchored by world-class hospital systems, and a fast-growing base of contractors, professional firms and service businesses across the First Coast.
Yet for a city of its size, Jacksonville has remarkably few hometown banks. Regulatory call report data shows just two banks headquartered in the city: EverBank and Florida Capital Bank. Everyone else, from national giants to Southeast regional banks, is based somewhere else.
That reality shapes how Jacksonville business owners should think about banking. Hometown credit unions play an outsized role here, regional banks compete aggressively for commercial clients, and national SBA specialists provide much of the region’s small business credit.
This guide sorts through the options with current 2026 data, organized by what each institution does best.
How We Evaluated Jacksonville Banks
JacksonvilleBusinessNews.com assessed banks and credit unions on the criteria that matter most to First Coast business owners:
| Criteria | Why It Matters |
|---|---|
| Local decision-making | Faster, flexible credit |
| SBA lending activity | Access to guaranteed loans |
| Financial strength | Stability of your partner |
| Business product depth | Treasury, merchant, lending tools |
| Branch access | Deposits and service |
| Cost | Fees and rates |
This article is general information, not financial advice. Products, fees and lending programs change frequently. Confirm details directly with any institution before opening an account or applying for credit.
Jacksonville Business Banking at a Glance
| Institution | Best For | Type |
|---|---|---|
| Florida Capital Bank | Local commercial relationships | Jacksonville-based bank |
| EverBank | Larger commercial real estate needs | Jacksonville-based bank |
| VyStar Credit Union | Small business banking at scale | Jacksonville credit union |
| Community First CU | Local business lending | Jacksonville credit union |
| TD, Northeast, Huntington | SBA 7(a) volume | SBA specialists |
| Hancock Whitney, United Community | Regional commercial banking | Regional banks |
| Truist, Bank of America, Chase | Branch access and cash | National banks |
| SBA 504 CDCs | Buying your building | Nonprofit lenders |
1. Florida Capital Bank: Best Hometown Business Bank
Florida Capital Bank is the Jacksonville-headquartered bank most focused on small and mid-sized businesses.
Established in 1985, the bank reported $713.1 million in total assets as of the second quarter of 2026, up from $655.2 million a year earlier, with $534.5 million in loans and $639.8 million in deposits. It has 118 employees and five locations, with its headquarters in Deerwood Park and offices in Tampa’s Westshore district, Gainesville and downtown Orlando.
The bank describes itself as a leader in community business banking, offering commercial real estate loans, business lines of credit, small business checking and savings, and treasury management, along with residential mortgages and a wholesale mortgage division.
Its local identity has been part of its pitch for years. When the bank recruited a Jacksonville commercial banking team in 2022, the Jacksonville Daily Record reported that a key reason was that Florida Capital Bank was the last remaining community bank headquartered in the city.
Best for: Jacksonville businesses that want a locally headquartered commercial bank with relationship bankers, commercial real estate lending and treasury services.
Consider: With a limited branch network, cash-heavy businesses may want a second institution for deposits.
2. EverBank: Best for Larger Commercial Real Estate Needs
EverBank is by far Jacksonville’s largest bank headquarters. In its first-quarter 2026 call report, EverBank reported $47.2 billion in total assets and $37.4 billion in loans, with a 12.52 percent CET1 capital ratio and a nonperforming loan ratio of 0.69 percent. It operates 43 branches, concentrated in Florida.
EverBank’s ownership changed in 2023, when TIAA sold it to a group of private equity firms including Stone Point Capital, Warburg Pincus, Reverence Capital Partners and Sixth Street. Greg Seibly remains CEO, a role he has held since 2018.
Its balance sheet leans heavily toward residential mortgages and commercial real estate lending, and its consumer business relies more on digital channels than on a dense branch network.
Best for: Established businesses and commercial real estate investors who want a large, Jacksonville-headquartered lender.
Consider: EverBank is not primarily a small business bank. Very small businesses may find more tailored service at a community bank or credit union.
3. VyStar Credit Union: Best for Small Business Banking at Scale
VyStar is the financial institution most Jacksonville residents know by name, and it is a major force in small business banking.
Founded in 1952 to serve military members and their families, VyStar now serves more than one million members, including more than 60,000 small business owners, through 79 full-service branches and 19 high school branches across Florida and Georgia. As of March 31, 2026, it reported $13.8 billion in total assets and 1,058,604 members, with a net worth ratio of 8.86 percent, above the 7 percent threshold NCUA uses for well-capitalized credit unions.
VyStar is the second-largest credit union headquartered in Florida. Membership is open to anyone who lives or works in 49 Central and North Florida counties and 29 Georgia counties, plus military members and their families worldwide.
In 2026, VyStar was named to TIME’s inaugural list of America’s Best Financial Services companies, along with recognition from USA Today and Fortune.
Best for: Small businesses, sole proprietors and military-connected business owners who want credit union pricing with a large branch network.
Consider: Credit unions face federal caps on total business lending, so very large commercial loans may require a bank.
4. Community First Credit Union: Best for Local Business Lending
Community First Credit Union has served Jacksonville since 1935 and is Downtown Jacksonville’s longest continually operating financial institution.
It has been growing its business lending quickly. In 2025, Community First surpassed $3 billion in assets for the first time and made a record $69.8 million in loans to local businesses, a 37 percent increase. It reported a net worth ratio of 12.48 percent, well above its Florida peers, and it serves about 188,000 members.
Commercial relationships are a growing part of its business. In 2024, Community First increased its commercial accounts by 9 percent to more than 6,500.
The credit union is also expanding. In 2025, it announced plans to seek approval to acquire First Southern Bank, which would extend its reach into Southeast Georgia and Central Florida.
Best for: First Coast small businesses seeking a strongly capitalized local lender with a growing commitment to business lending.
Consider: Membership is tied to living or working on the First Coast, and very large loans may exceed credit union limits.
5. SBA Specialists: Best for SBA 7(a) Loans
SBA loans are a key source of capital for Jacksonville businesses. In fiscal 2025, the Jacksonville metro recorded 391 SBA 7(a) approvals totaling $226.4 million and 67 SBA 504 approvals worth $67.3 million.
By loan count, the most active 7(a) lenders in the metro that year were:
| FY2025 Lender | Metro Jacksonville 7(a) Loans |
|---|---|
| TD Bank | 37 |
| Northeast Bank | 36 |
| Huntington | 31 |
| Newtek Bank | 27 |
| Readycap Lending | 19 |
| Live Oak Bank | 18 |
| United Midwest Savings Bank | 15 |
| BayFirst (now exited) | 13 |
BayFirst’s presence on the list deserves a note: the St. Petersburg bank exited SBA 7(a) lending in 2026, so it is no longer available to new SBA borrowers.
Who Lent the Most Within the City of Jacksonville
Within the city, Jacksonville businesses received $109.4 million in SBA 7(a) approvals across 175 businesses in 2025, from 56 active lenders.
| 2025 Lender | Volume | Loans | Avg Rate |
|---|---|---|---|
| TD Bank | $9.9M | 26 | 10.71% |
| Huntington | $6.5M | 13 | 9.35% |
| First Citizens Bank | $6.2M | 2 | 9.25% |
| Dogwood State Bank | $5.1M | 2 | 9.50% |
| Synovus Bank | $5.0M | 1 | 9.00% |
| Valley National Bank | $5.0M | 1 | 9.00% |
| Pinnacle Bank | $4.4M | 6 | 9.46% |
| Wells Fargo | $4.3M | 5 | 10.66% |
| Cogent Bank | $3.4M | 4 | 9.63% |
TD Bank leads Jacksonville by both loan count and dollar volume, making it the clearest SBA choice for many local borrowers. Huntington stands out for combining meaningful volume with a below-average rate.
Best for: Business acquisitions, working capital, equipment and owner-occupied real estate.
Consider: Compare rates and terms from at least three lenders; average rates varied by more than a full percentage point among top Jacksonville lenders.
6. SBA 504 Lenders: Best for Buying Your Building
For Jacksonville businesses ready to stop renting, an SBA 504 loan combines a bank first mortgage with fixed-rate financing from a Certified Development Company, often with as little as 10 percent down. Florida First Capital Finance was the most active 504 lender in metro Jacksonville in fiscal 2025, and it lists October 2026 effective rates of 6.98 percent for a 25-year fixed 504 loan.
Best for: Businesses buying offices, warehouses, medical space or industrial property, which is especially relevant given Jacksonville’s logistics growth.
7. Regional Banks: Best for Growing Commercial Clients
Because Jacksonville has few hometown banks, regional banks headquartered elsewhere compete hard for local commercial clients.
Hancock Whitney has a growing Jacksonville focus following its 2026 acquisition of Orlando’s One Florida Bank. Former One Florida CEO Rick Pullum now leads Hancock Whitney’s Orlando, Jacksonville and Panhandle markets.
United Community, a $29.1 billion Southeast bank with 200 offices, earned multiple 2026 Greenwich Best Bank awards for small business banking and runs a nationally recognized SBA lending franchise.
Pinnacle, Synovus, Valley National and Cogent Bank were also among the active SBA lenders to Jacksonville businesses in 2025.
Best for: Businesses with $2 million or more in revenue, commercial real estate investors and companies operating across the Southeast.
Consider: Credit decisions may involve regional underwriting teams outside Jacksonville.
8. National Banks: Best for Branch Access
National banks including Truist, Bank of America, Wells Fargo, JPMorgan Chase and Regions maintain extensive First Coast branch networks. They suit cash-heavy businesses, multi-state operations and companies with sophisticated treasury needs.
Best for: Restaurants, retailers, hospitality businesses and multi-location companies.
Consider: National banks often centralize credit decisions, which can reduce flexibility for unconventional borrowers.
Matching the Right Bank to Your Jacksonville Business
| If Your Business Is | Consider |
|---|---|
| Seeking a hometown commercial bank | Florida Capital Bank |
| A larger CRE investor | EverBank, regional banks |
| A small business or sole proprietor | VyStar, Community First |
| Military-connected | VyStar |
| Applying for an SBA 7(a) loan | TD, Huntington, Northeast |
| Buying a building | SBA 504 CDC plus a local lender |
| Operating across the Southeast | United Community, Hancock Whitney |
| Cash-heavy retail or hospitality | Truist, Bank of America, Chase |
Logistics and JAXPORT Businesses
Trucking companies, freight forwarders and warehouse operators need equipment financing, working capital lines and efficient payments. Regional banks with commercial teams and SBA lenders financing owner-occupied industrial property are often strong fits.
Military-Connected Businesses
Veteran-owned businesses and contractors serving NAS Jacksonville and Naval Station Mayport often benefit from institutions with military roots. VyStar was founded specifically to serve military members, and SBA programs offer resources for veteran entrepreneurs.
Health Care Practices
Medical and dental practices near the region’s major hospital systems often use SBA loans for practice acquisitions and 504 loans for owner-occupied medical offices.
Contractors and Trades
Northeast Florida’s construction growth has created thousands of contractor businesses that need equipment loans, lines of credit and lenders familiar with bonding and project-based cash flow.
Questions to Ask Any Jacksonville Bank
- Where are credit decisions made? With few local headquarters, this question matters more in Jacksonville.
- Are you an SBA Preferred Lender, and how many Jacksonville SBA loans did you close last year?
- Has the bank changed lending programs or ownership recently?
- What are the monthly fees, and how can they be waived?
- How many cash deposits are included?
- What treasury and merchant services are available?
- How is the institution performing financially?
- Is my money FDIC- or NCUA-insured, and up to what limits?
Brian’s Take
I spent years as a money manager before building the Florida Authority Network, and Jacksonville’s banking landscape stands out among Florida’s major cities for one reason: concentration.
A city of nearly a million people has just two bank headquarters, and one of them is a $47 billion institution owned by private equity firms. For a typical small business owner, that leaves Florida Capital Bank as the lone hometown community bank, alongside two large hometown credit unions in VyStar and Community First.
That is not necessarily bad news. VyStar’s scale and Community First’s strong capital and growing business lending give Jacksonville businesses real local options. And competition from regional banks like Hancock Whitney and United Community, plus high-volume SBA lenders like TD and Huntington, keeps the market competitive.
But the investor in me sees risk in concentration. When a market depends on a handful of local institutions, any strategy change, merger or lending pullback has an outsized effect. My advice for First Coast business owners: build a relationship with a local institution before you need to borrow, shop SBA lenders separately because rates vary meaningfully, and once your business reaches meaningful size, keep at least two banking relationships. In a hurricane-exposed region with seasonal and contract-driven cash flow, that redundancy is simply good risk management.
Frequently Asked Questions
What is the best bank for small businesses in Jacksonville?
It depends on your needs. Florida Capital Bank is the leading Jacksonville-headquartered community business bank. VyStar and Community First are the largest hometown credit unions and serve tens of thousands of small business members. TD Bank led all SBA lenders in Jacksonville in 2025 by both loan count and dollar volume.
Which banks are headquartered in Jacksonville?
Call report data shows two banks headquartered in Jacksonville: EverBank, with about $47 billion in assets, and Florida Capital Bank, with about $713 million.
Who makes the most SBA loans in Jacksonville?
TD Bank made the most SBA 7(a) loans in the Jacksonville metro in fiscal 2025 with 37, followed closely by Northeast Bank and Huntington.
Does VyStar offer business banking?
Yes. VyStar serves more than 60,000 small business owners and offers business checking, savings, loans and credit cards.
Is Community First Credit Union growing its business lending?
Yes. Community First made a record $69.8 million in local business loans in 2025, up 37 percent, and increased its commercial accounts to more than 6,500 in 2024.
Does BayFirst still offer SBA loans in Jacksonville?
No. BayFirst exited SBA 7(a) lending in 2026.
Jacksonville Business Banking Snapshot
| Detail | Data |
|---|---|
| Banks headquartered in Jacksonville | 2 |
| EverBank assets (Q1 2026) | $47.2 billion |
| Florida Capital Bank assets (Q2 2026) | $713.1 million |
| VyStar assets (Q1 2026) | $13.8 billion |
| Community First assets (2025) | $3 billion |
| Metro SBA 7(a), FY2025 | 391 loans, $226.4M |
| Top metro SBA lender by count | TD Bank (37) |
Sources and Further Reading
- Jacksonville bank total assets rankings, VisBanking, 2025
- Florida Capital Bank profile and financials, DepositAccounts
- Florida Capital Bank call report summary, VisBanking
- Florida Capital Bank company information, Yelp
- “Florida Capital Bank: Our Commitment to the Community,” Jacksonville Daily Record, March 2024
- EverBank, N.A. financial profile, BankRegReports, Q1 2026
- EverBank ownership profile, Altss
- “VyStar’s Member First Approach Earns National Recognition,” VyStar Credit Union, April 27, 2026
- “VyStar Credit Union Named to TIME’s Inaugural List of America’s Best Financial Services Companies,” VyStar Credit Union, April 2026
- VyStar Credit Union profile, BankRegReports, Q1 2026
- “Community First Credit Union Releases 2025 Annual Report,” Community First Credit Union, March 2026
- “Community First Credit Union Releases 2024 Annual Report,” CU Insight, March 2025
- “CEO and President John Hirabayashi to Retire from Community First Credit Union in 2024,” CU Insight
- “The Jacksonville Feasibility Market: SBA, USDA and Its Structural Variables,” MMCG Invest, 2026
- “Best Jacksonville, FL SBA Lenders & Rates of 2026,” GoSBA Loans
- BayFirst Financial Corp. Q2 2026 earnings call transcript, 2026
- Hancock Whitney investor presentation on One Florida Bank acquisition, May 2026
- United Community Banks, Inc. Form 8-K, U.S. Securities and Exchange Commission, 2026
- Florida First Capital Finance Corporation SBA 504 rates and program information
About the Author
