Cogent Co-Founder Takes a Leap of Faith to Launch a Community-Minded Bank

What does it take to turn a dream into reality? For Phil Bravo, it started with a casual comment while in his mid-20s: “I’d really like to start my own bank someday.” At the time, he was a young banker climbing the corporate ladder at a regional bank in Jacksonville. Fast forward to 2018, and he helped launch Cogent Bank – a locally owned community-focused bank that’s redefining modern banking in Florida.

In 2016, Bravo first connected with other Cogent founders from Jacksonville – Lee Hanna, Scott Flanders, and Jim Miller. Though he didn’t know them personally, he respected their reputation in the Florida banking community. Initially, he declined their invitation to join their team. He had a successful banking career, a young family, and plenty of reasons to stay the course. But two years later, when they approached him again with an opportunity to buy and recapitalize Pinnacle Bank, he decided to take a chance.

“It was a huge leap of faith,” Bravo recalls. “My accountant thought I was crazy. My family didn’t really understand, but my wife and a few trusted folks knew it was a strategic decision. I just knew it was going to work. I remember thinking, ‘If I don’t do this now, I might never get another chance,’ he added. “It was scary, but it felt right.”

Together, along with other founders from Orlando, they helped acquire Pinnacle Bank – a struggling bank based in Orange City, Florida. In May 2018, they launched Cogent Bank. Bravo helped open the Jacksonville office a month later and now serves as its Senior Vice President and Market President . With over 20 years of lending experience, he’s an integral part of helping Cogent grow throughout the state.

The Cogent Difference – What Sets Us Apart

Phil Bravo’s decision wasn’t just about starting a bank – it was about building something special. Today, Cogent is just that and more – entrepreneurial, responsive, personal, and purpose driven.

• Locally Owned and Operated: “Our growth is a result of hiring exceptional leaders who make good decisions. Most of our employees own part of our bank, creating a strong dedication to our mission of delivering a special customer experience every day.”
• Autonomy and Purpose: “Being a privately owned bank gives you a lot more autonomy,” Bravo says. “We’re not trying to be everything to everybody. We focus on what we do best. We are a smart alternative for small to medium-size businesses.”
• Organic Growth: Cogent started with $10 million in capital and $80 million in assets. Today, Cogent serves ten markets throughout Florida and boasts $205 million in capital and $2.3 billion in assets – all without acquiring other banks.
• Customer-Centric Approach: No call centers. When you contact Cogent, you reach someone who works at the bank and understands your needs. Experienced bankers are ready to help solve critical issues that keep business owners up at night – like “how can you help me manage my business’s cash flow more effectively?”
• Significant Investment in Technology: Direct dialing, text messages, and emails are used to communicate with customers – allowing Cogent to serve a large customer base without the need for numerous locations. Online account opening and servicing is convenient and user-friendly.

Cogent’s growth has been intentional. Bravo and his team have focused on building strong relationships, one client at a time. “We’re not just here to lend money,” he says. “We’re here to help businesses grow, transition, and thrive. Every time I sit down with a client, I ask myself, ‘How can we make their life easier?'” Bravo shares. “That’s the heart of what we do.”

“We’re not chasing volume for the sake of volume. We want meaningful relationships that last. I tell my team all the time: if we take care of the client, the numbers will take care of themselves.”

Serving Our Local Businesses and Communities

Cogent’s mission is clear: support small and medium-sized businesses. Bravo believes these businesses are the backbone of America and deserve a banking partner that understands their needs. “When you walk into our office, we want you to feel like you’re talking to someone who genuinely cares, every business we support is part of our community’s fabric.” he adds.

• Local Decision-Making: Cogent is entrepreneurial by design, empowering each market to make decisions quickly, without layers of bureaucracy common with large banks.
• Products and Services: Cogent offers diverse, full-service business and personal banking delivered with leading edge technology and a commitment to superior service.
• Exit and Succession Planning: Through its Private Wealth division, Cogent helps business owners plan for retirement, sales, or transitions. This includes personalized strategies and long-term financial guidance.
• Community Engagement: From partnering with local schools to volunteering at nonprofit organizations, Cogent is deeply rooted in the neighborhoods it serves. Whether it’s mentoring young entrepreneurs or volunteering at local schools, nonprofits, and events, Cogent’s role in local communities is much broader than financial services.

Bravo is active in local initiatives and believes in giving back. He has been involved in the Jacksonville Rotary Club for over 14 years and has been a member of the Northeast Florida Builders Association (NEFBA) since 2018. He also services on the Parish Leadership Council and Strategic Planning Committee at his church.

Digital Banking and Cybersecurity

Bravo emphasizes the importance of embracing digital banking to stay competitive and secure. He points out that small banks often cannot afford the cost of adhering to evolving technology regulations which impacts their ability to keep up with the latest in digital banking.

• Electronic Transactions: Streamline business operations – moving away from cash and checks – by using ACH for payments and Remote Deposit.
• Cybersecurity Tools: Use of Positive Pay, dual verification, and callbacks to protect customers from fraud and unauthorized transactions. With Positive Pay, customers provide a list of checks issued which are matched to those presented for payment.
• AI-Driven Efficiency: Process loan applications faster using artificial intelligence, turning hundreds of pages into a one-page summary in seconds. This means the credit decision-makers are not bogged down in paperwork and are able to make timely decisions.

Bravo sees technology not as a replacement for personal service, but as a tool to enhance it. “We use tech to make things easier, not to replace relationships. Technology should serve people – not the other way around,” he explains. “We’re always looking for ways to make banking more intuitive and secure.”

Cogent invests in training its staff to stay ahead of digital trends. The bank embraces the belief that a tech-forward mindset must be supported by ongoing education and a commitment to customer service.

Looking Ahead

Phil Bravo’s vision is simple but powerful: “I would love to see a Cogent card in everyone’s wallet. We’ve proven we are the alternative to mega banks, and I’m proud of it. This is the best thing I’ve ever done throughout my entire banking career.”

Bravo’s story is a reminder that big dreams often start with small conversations – and that with the right team, vision, and values, those dreams can become a reality.

Ready to Experience the Cogent Difference?

Cogent Bank is more than just a financial institution—it’s a community partner, a trusted advisor, and a tech-savvy alternative to traditional banking. Whether you’re a small business owner, a nonprofit leader, or someone looking for a personal banking relationship, Cogent is ready to support your journey.

Visit Cogent Bank to learn more, connect with a local banker, or explore how you and your business can experience the Cogent difference.

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Disclaimer: 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.