Association Services

Loans and Deposits that perform for your condo or homeowners association

Association Services that perform for your condo or homeowners association

First Southern Bank has a rich and extensive history of serving property management companies and condominium/homeowners associations in South Florida. We understand the unique financial requirements and believe in the importance of providing them with banking and lending services that are specific to the industry.

First Southern Bank’s commitment to this industry is not confined to our branch locations. First Southern Bank provides the technology and special services, like iLockbox and BizBanc, that make it convenient to bank with us, no matter where you are located in South Florida.

We also offer an array of additional cash management services that help you speed your collections, monitor and reconcile your daily account balances and facilitate funds movement electronically to maximize the return on idle balances.

• Accelerate your cash flow using our Internet based ilockbox collection system to integrate both check payments and recurring ACH authorizations into one integrated A/R posting file improving operating efficiency for the management company and better service to the association
• Facilitate your disbursement and information gathering activities with our online BizBanc and BizPay to streamline the movement of funds between accounts and facilitate research requests
• Obtain higher rates of return for association money market accounts and certificates of deposit.
• Enjoy aggressive borrowing rates, for association lines of credit, loans, and insurance premium financing.

Association loans that perform for your homeowners or condo association

First Southern Bank has the funds available to meet your needs.  Our extensive experience combined with understanding of the ever changing needs of associations enable us to respond quickly to your loan request with a customized program, competitive rate and flexible terms.

Which Loan is right for you?

• Line of credit
• Term loan
• Non-revolving line of credit during the construction. Once your project is completed, the line is converted to a term loan.

Insurance Premium Financing

• Hazard, windstorm, liability and flood
• Up to 100% of annual premium to be repaid in 12 months

Major Repairs, Construction, Improvements, and Equipment

• New entry ways and gates
• Sea wall construction and restoration
• Clubhouse renovation
• Balcony repairs
• Concrete restoration
• Re-roofing
• Siding
• Plumbing
• Painting and waterproofing
• Irrigation systems
• Security systems and fire safety systems
• HVAC equipment
• Impact windows
• Elevator upgrades and renovations
• Electrical upgrades and renovations
• All renovations

Contact First Southern Bank today to get started