Bank undergoes name change, brand and cultural enhancement
From its initial start in 2000 as First Commercial Bank (FCB) in Jackson, a new chapter is being written in the “story” of a well-known and successful financial institution based in Mississippi.
Now known as Story Financial Partners—with the name change made in April of this year which also marked the 25th anniversary of FCB—this new chapter is being led by banking veteran and President/Chief Executive Officer, Curt Gabardi, and his dedicated team of leaders and associates, including one of FCB’s first executives, Sam Lane, who currently serves as Story’s Chief Development Officer.
Story Financial Partners is a unique ‘story,’ inspired by talented associates who are dedicated to meeting the needs of our clients every day,” stated Gabardi. “Our associates possess an attitude for leadership at every level in the bank and use this belief to take action where the client is. That action includes a number of factors that we instill in our culture: Our clients should always know how much we care, and we’ve always held the belief that as we deliver a consistently exceptional client experience, the right results will fall in our favor; Our associates are invested in our clients and shareholders; thus, we tend to be less focused on how good we are but rather how good we can be; As a people-first culture, our associates are our most important asset, so an environment of continuous learning is essential to delivering superior results over time which is supported by a work environment that fosters a healthy work/life balance and overall wellness.”
Gabardi, who was the founding CEO of Metropolitan bank prior to its merger with Renasant Bank—had an incredibly successful nine-year run that reached $1.5 billion in assets—received many calls and offers from other financial institutions in the South. One of the calls came from his longtime friend, Alan Walters, the founding President/CEO of First Commercial Bank who was interested in learning more about Gabardi’s plans following his brief role as President and Chief Banking Officer of Renasant.
“It was ultimately a long discernment process for me following serving a two year non-compete agreement with Renasant, but the FCB Board had begun to reassess its competitive position and future as Alan shared over lunch,” recalled Gabardi. “Alan felt as though the bank had reached a point of maturation and was genuinely interested to learn how we might explore a new growth strategy for the bank.” Gabardi said he was very intrigued by the opportunity given the similarities of the operating models of FCB and Metropolitan while also feeling the excitement of bringing a lot of very talented bankers together under one enhanced brand and culture.
“When I initially met with Alan and the executive committee, I felt strongly that a full evaluation of the FCB name and brand would be in order given the duplicative name with ‘First’ and ‘Commercial’ across so many geographies and that expanding to new markets would warrant a brand refresh that’s bold and unconventional and, above all, shared more about us as a differentiated operating model and culture,” said Gabardi.
Gabardi began as executive advisor and CEO in wait in 2019 and formally assumed Walter’s role in 2020; the bank has evolved from just under $400 million in total assets over a 20-year period as of 2019 to doubling the bank’s total assets and operating profits in just four years and is now on the cusp of reaching $1 billion in total assets. This has largely been accomplished by bringing in a number of former Metropolitan leaders and legacy Renasant associates. This talent driven growth strategy has led to the full modernization of the bank including new products and services key to the strategy such as a robust treasury management group, private client, mortgage and new leadership in Trust.
“We’re now in the final quarter of our fifth year. We’ve grown from 38 associates in 2019 to 115 today,” said Gabardi. “And, within the modernization process, we’ve fully positioned Story as a unique concierge service-type of financial institution, one without teller stands and a commitment around the ease with which to do business including every banking channel of convenience for clients. I’m very proud of our leadership team as we’ve modernized our office infrastructure while adding new markets and talent in Memphis and Huntsville. It’s been especially wonderful to work alongside Sam Lane and Carolyn Mayberry, both of whom were Day 1 associates of FCB and have been so integral to leading and owning the growth strategy for Story.
“This really feels like a strategic merger that is working for the benefit of all stakeholders,” noted Gabardi. Thus, Story Financial Partners was born out of an established legacy and experienced team, including a board which includes members such as Jackson-businessman, Paul Moak, who was there at the beginning with FCB as well as with former CEO Walters.
“We decided to change our name to Story for a variety of reasons,” said Gabardi. “There are over 2000 banks in the nation that have either ‘first’ or ‘commercial’ in their names. Stakeholder and now CDO, Sam Lane participated with other key constituents around the bank that collectively decided on the new name, Story Bank dba Story Financial Partners—or just Story, if you will. The name ‘Story’ came from one of our associates in Memphis and it immediately resonated with us in so many ways—it became a natural feel for us as storytellers. We also believed that Story could be effectively used in social media including associate, client and board podcasts—which we now produce regularly to share the unique and compelling stories of our associates, clients and the communities we serve.”
Gabardi outwardly admitted that he feels very proud, after going through numerous mergers and changes in his own banking career, to be leading a bank and culture, once again, where everyone has the opportunity to put their paw mark on the DNA of the company. “We’re all excited and the future of this organization is incredibly strong,” he said.
For his part, Lane said “This new chapter with Story has exceeded my wildest dreams in terms of our success. That includes my going back to the FCB days, but this new chapter is probably the most exciting of my career. This bank is like a child to me. Our team is incredible, as well. Pam Gordon, our President and Chief Operating Officer, Brian Rippee, our Chief Banking Officer—and so many others—bring so much experience and talent to this organization. And Curt Gabardi is a visionary—I truly believe that. Plus, I think our new name resonates with people in the South in particular because so many of us are story-tellers.”
“There is nothing more important to us than the relationship we maintain with our clients,” shared Gabardi in a statement earlier this year. “This begins and ends in possessing talented associates who care about their clients and are focused on how good we can be. To believe it is to experience it and that is what makes our evolving banking story unique and more special.”