The new ServisFirst Bank Mobile headquarters is a two-story, 16,000-square-foot building more than doubling the size of their current location. The new locale will provide full service banking and two-lane drive-up banking with covered parking. ServisFirst Bank signed a long-term lease with RSA and is set to move into the space currently occupied by Phelps & Dunbar in late fall 2015.
“The Mobile community has embraced ServisFirst Bank since we entered the region in July 2012,” Bibb Lamar, CEO and president of ServisFirst Bank Mobile said. “With our new location, we are committed to providing Mobile with excellent customer service they have come to know with additional space to grow.”
Parent company, ServisFirst Bancshares was recently ranked 7th in market share for the state of Alabama, with total assets reaching $3.966 billion as announced in their 3rd quarter earnings Oct. 20. As of June 30, they had $2.966 billion in deposits, up 19 percent year over year. Overall, the bank saw 3rd quarter annualized loan and deposit growth of 14 percent and 25 percent respectively, on a linked quarter basis.
Between their current locations in downtown and Springhill, the bank currently has 20 employees in the area. Future plans are to expand into the Baldwin County market adding up to two more branches by 2016.
Commercial Real Estate Moves
John Vallas with Vallas Realty has sold the former Tacky Jacks Restaurant located at 1175 Battleship Parkway for an undisclosed amount to Don Davis, owner of the Texas-based Ralph & Kacoo’s franchise. According to Davis, this will be their fifth addition with eateries located in New Orleans, Baton Rouge and Bossier City in Louisiana and Lufkin, Texas.
“We first tried to buy the property four years ago, but back then the owner of Tacky Jack’s made a better offer. When Vallas contacted us again recently, we came back and bought it this time around. I think the location has the potential to become one of our top restaurants,” Davis said.
Turnaround time on sale of the property was less than 60 days, which was remarkably quick according to Vallas.
“For this to be the first Ralph & Kacoo’s to open in Alabama, his concept is a good fit for the Mobile area and well known along the central Gulf Coast,” he said.
Pratt Thomas with the Merrill P. Thomas Co., Inc. recently leased 1,200-square-feet of retail space in University Square Shopping Center across from the University of South Alabama to Flaunt Boutique, a women’s clothing shop. They will host its grand opening Saturday, Nov. 22.
Thomas also sold 13 acres to local investors off County Road 20 South, a half mile west of State Highway 59 in Foley, for $97,500.
Groundbreaking ceremonies will be held Friday, Nov. 14 at 11 a.m. for a new Hampton Inn located at 1701 Gulf Shores Parkway that is scheduled to be complete by spring 2016. The Coastal Alabama Business Chamber will be hosting the event.
According to the press release, the 88-room hotel is a prototype and the only one of its design in the area. Features at the new hotel will include updated room and guest bath designs, microwave refrigerator combos and other modern conveniences.
Local Veterans honored
For Veterans Day held this past Tuesday, the Mobile Bay Area Veterans Day Commission honored Maj. Gen. Carl McNair Jr. (Ret.), a highly decorated Vietnam War veteran, as Patriot of the Year, along with Veteran of the Year Seymour “Sy” Litchtenfeld, who wrote about his World War II experiences. They were both recognized during a luncheon held at Fort Whiting Armory.
McNair, a native of Pensacola, Florida, served the U.S. Army for more than 32 years in key research and development, infantry and Army aviation command and staff positions. His overseas assignments included Vietnam, Korea and Taiwan with combat service spanning six campaigns during 1967-1969. He was awarded the Distinguished Flying Cross four times, the Bronze Star with “V” for valor and 53 Air Medals while flying more than 1,500 combat hours.
After retiring from the Army in 1987, McNair served corporate America in several leadership positions. In January 2015, he will receive the Kiddie Hawk Air Academy’s Living Legend of Aviation award and will join the ranks of entrepreneurs, innovators, industry leaders, astronauts and pilots.
Litchtenfeld, a Mobile resident, was born in Gary, Indiana, and also served in the U.S. Army. He was taken prisoner in the December 1944 Battle of the Bulge, labeled by historians as one of the most deadly. He was awarded the Purple Heart and Bronze Star medals as well as the Combat Infantryman’s Badge. In 2001, he wrote “Kriegie 312330,” detailing his experiences.
The day’s events included an annual parade along Government Street in downtown Mobile that featured several veterans’ organizations, active duty units, reserve & National Guard units, ROTC and JROTC units, scouts and local marching bands. A Freedom Celebration was also held at the USS Alabama Battleship Memorial Park and included a free Mobile Pops Concert.
Austal christens second LCS in ceremony
Austal and the U.S. Navy recently celebrated the christening of the future USS Montgomery (LCS 8). This was the second Independence-variant Littoral Combat Ship (LCS) christened at Austal this year and the second ship named after Alabama’s state capitol.
The Independence-variant LCS vessels are 127-meter (419-foot) aluminum trimarans, capable of being outfitted with reconfigurable payloads (mission packages), which can be changed to support mine countermeasure, anti-submarine and surface warfare missions. The ship has a maximum speed of more than 40 knots. Montgomery was launched in August and is making preparations for trials and delivery late next summer.
“I was extremely excited and proud to represent Austal as the future USS Montgomery was christened today” Craig Perciavalle, Austal USA president said. “This ship will play an important role in our nation’s defense and we are proud to christen her.”
Secretary of the Navy Ray Mabus officially named the ship “Montgomery” at a keel laying ceremony at Austal USA on March 24, 2011, attended by Austal’s production employees.