Mikel Sharpe joined Cogent Bank as Market President of Manatee & Sarasota Counties, after working in management and commercial lending for many years. We sat down with him to gather his thoughts about his approach to banking and client relationships.
TELL US ABOUT YOURSELF AND YOUR ROLE AT COGENT
April 1 (April Fools’ Day) marked my 29th year in banking. I spent more than four years in the U.S. Navy, while also earning a BS in Healthcare Management from Southern Illinois University, Carbondale, and an MBA from Webster University.
I’ve been on the boards of the United Way Suncoast, the Boys and Girls Club of Manatee County, and was a Little League board member and treasurer. As a disabled veteran, I also spend time volunteering and advocating for local veterans and helping them deal with the Veterans Administration. My wife Myrtis and I enjoy exercising, spending time in the mountains, taking cruises, and having our kids and grandkids visit us.
My mission at this stage of my career is to mentor our bankers. I spend my time investing in the team, elevating the team, and helping our clients. That’s where my satisfaction comes from and that’s where the impact is.
WHAT MAKES THE BRADENTON MARKET UNIQUE AND WHY DID COGENT BANK CHOOSE TO EXPAND THERE?
Well, we’re a Florida bank and we already have banking centers on the West Coast of Florida in Tampa, Clearwater, Fort Myers, and Naples, so the Bradenton/Sarasota market was a natural step in filling in the footprint of the West Coast of Florida.
If you looked at Sarasota, you would see world-class beaches, you have a thriving and very popular cultural scene with museums, the ballet, opera, and things that make it unique. With Sarasota Memorial Hospital, Sarasota’s largest employer, we also have award-winning diverse medical services. We also have a growing arts community in Manatee County. Overall Bradenton is a bit more affordable, and combined there is tremendous growth, especially east of I-75.
WHAT TYPES OF BUSINESSES CAN BENEFIT THE MOST FROM BANKING WITH COGENT?
I would say small to medium-sized companies would really benefit from a partnership with a bank that can support their day-to-day activities, as well as their growth in the future. At Cogent we want to get to know your company and be a part of your team. A lot of business owners don’t have that.
HOW DOES COGENT SUPPORT LOCAL BUSINESSES IN TERMS OF LENDING SOLUTIONS AND COMMUNITY INVOLVEMENT?
Most of our lending decisions are made locally, right here in Bradenton. In some cases, we might need the approval of our main office in Orlando. Even then, it’s still only a few hours away. We have all the business products that the larger banks have, but with a community bank delivery system.
We are also experts in helping homeowners and condo associations with the banking they need. Many banks don’t understand this industries specific needs, but it’s something we specialize in.
As a locally focused bank, our team is involved with the Manatee County Chamber of Commerce, which is just a stone’s throw from our office, and Manatee Young Professionals. We have team members involved in many other local organizations, such as the Manatee County Humane Society, the Urbanite Theater, Discover Bradenton, and the Bradenton Kiwanis.
Cogent also provides and encourages our associates to take time off from work and volunteer with local nonprofits.
HOW DOES COGENT BANK’S APPROACH TO RELATIONSHIP BANKING IMPACT THE CLIENT EXPERIENCE, COMPARED TO LARGER BANKS?
Cogent Bank’s approach is that the client comes first, you put the client in front of whatever you’re doing. We’re also extremely responsive. We get to know our business clients and their businesses. If you work with us, you’re going to have our cell numbers and we’re going to be here in the office locally. We’re not in a different time zone or another city.
Our goal is to make banking easier and more user-friendly. We ask ourselves how we can be the best in class at what we do.
We also make most of our lending decisions right here in Bradenton. If we have to decline a loan request, we don’t just leave it there, we explain our reasoning, so you fully understand the process and can address the issues so that we can relook down the road and hopefully get a more favorable outcome.
We’re always looking for ways to be more efficient and to add value to what we do. If we’re not adding value then we’re just taking an order or processing a payment, and any bank can do that.
WHAT DO YOU RECOMMEND TO A BUSINESS OWNER LOOKING FOR A BANK?
Start by taking a close look at your financials, your cash flow and borrowing needs today as well as how they’ll change in the future and the cyclical forces that impact your business.
I would take the approach that you’re interviewing the bank just like a new job applicant because they’ll be an important part of your team. Meet with a couple of banks to get an idea of how they work with clients and whether their lending decisions are handled locally, out of town, or out-of-state.
Did the bank ask thought-provoking questions? Did they try to understand your business? That’s very important, because if they don’t understand your business they can’t advocate for you. As companies grow and cycle through economic ups and downs, having a local banker that understands your company could make a real difference someday.
MEET OUR BRADENTON BANKING CENTER TEAM!
Mikel and the rest of the Bradenton team can provide the personalized banking experience you deserve. Contact us today to learn more about Business Banking at Cogent and how we can help you move forward!
The information contained herein is for informational/educational purposes only. The views and opinions expressed in this document may be those of the individuals and may not necessarily reflect those of Cogent Bancorp and its subsidiaries and affiliates, or the entities they may represent. Content contained herein may be used in connection with the advertising and/or marketing of products offered by Cogent Bank or Cogent Private Wealth. The material is not intended to provide or substitute for legal, tax, or financial advice or to indicate the availability or suitability of any Cogent Bank product or service. You should consult with a legal, financial, tax, or other appropriate professional(s) for your specific needs and/or objectives before making any decisions.
