Generational shift: Volusia-Flagler's Intracoastal Bank names son of founder as new CEO
DAYTONA BEACH ― Fifteen years after leading the formation of Intracoastal Bank during the Great Recession, Bruce Page recently turned over the CEO reins of the Volusia-Flagler area community bank to his son Ryan.
Ryan Page, who turns 33 on Jan. 3, has been Intracoastal's president since January 2021. He officially added the title of CEO on Dec. 1.
"I am thrilled to relinquish my role as CEO to Ryan," said Bruce Page. "This shows the bank's commitment to successful board and management succession with next-generation talent."
Ryan Page said he is excited to take on the new responsibilities which include serving on the board for the bank's parent, Intracoastal Bancorp Inc. "As a locally based financial institution, we are committed to enhancing the economic vitality and success of the clients and communities we serve," he said.
Intracoastal is a lender to small businesses and commercial construction projects throughout Volusia and Flagler counties.
Is Bruce Page retiring?
Not at this time. Bruce Page, who turned 62 in November, will stay on as executive chairman. "I am evolving to a more flexible schedule," he said. "I have always worked on an as-needed basis, which I plan to continue (but) anticipate the time requirements for me will be less with Ryan assuming the CEO role."
What is Intracoastal Bank?
Founded in 2008, Intracoastal was initially formed to serve Flagler County, where its original banking center at 1290 Palm Coast Parkway NW in Palm Coast is located.
Intracoastal expanded to Volusia County in 2015 when it opened a second banking center at 2140 LPGA Blvd. in Daytona Beach. The bank also offers mobile banking services and has ATMs throughout the two counties.
The bank considers itself based in both Palm Coast and Daytona Beach. Bruce and Ryan Page regularly spend time in both locations as does the rest of the leadership team.
Intracoastal employs 46 people who are now part owners, thanks to an Employee Stock Ownership Plan the bank began five years ago.
The bank recently earned a five-star "superior" rating from Bauer Financial. Its assets have grown from just over $16 million when it launched to $496 million as of Nov. 30, 2023.
New CEO has extensive background
Ryan Page was just 17 when Intracoastal launched in June 2008. He interned at the bank in 2011. After earning his bachelor's degree in finance from the University of Florida in 2013, he did another internship, this time in commercial banking at BBVA in Denver, Colorado. BBVA wound up hiring him as a commercial relationship banker.
He returned to the Volusia-Flagler area in 2017 to join the staff at Intracoastal as a vice president and relationship manager. He got involved in the community as a volunteer by joining the board for United Way of Volusia-Flagler Counties. He served as founding chair of the United Way chapter's Generation IMPACT group for young professionals.
Ryan Page was promoted at Intracoastal to senior vice president and chief credit/risk officer in 2019.
He has furthered his education in banking first at the ABA Stonier Graduate School of Banking in Philadelphia, and more recently at Wharton Executive Education, where he took part in a leadership certification program for banking.
This article originally appeared on The Daytona Beach News-Journal: Volusia-Flagler's Intracoastal Bank names son of founder as new CEO
