First National Bank of the Gulf Coast (in organization), a proposed new bank in Naples, Fla., and Panther Community Bank, N.A, an independent community bank serving Lehigh Acres, has announced that they have received conditional approval from the Office of the Comptroller of the Currency (OCC) regarding their proposed merger, subject to certain conditions and final approval from the shareholders of both banks.

“We are very pleased to have received this conditional approval from the OCC, which is a result of the hard work and dedication of our entire organizational team,” said Gary L. Tice, chairman and CEO of First National Bank of the Gulf Coast (in organization). “It has been a long, arduous road, but we anticipate receiving our final regulatory and shareholder approvals soon and expect to open the bank in late October.”

Michael J. Kerschner, chairman of Panther Community Bank, N.A., added, “We look forward to completing our merger with First National Bank of the Gulf Coast. Combining our two organizations will create a strongly capitalized, locally based financial institution that is better able to serve the unique needs of customers in Collier and Lee counties.”

Shareholders of Panther Community Bank will vote on the proposed merger at a meeting on October 11, 2009, at the Legends Golf and Country Club in Fort Myers. Shareholders of First National Bank of the Gulf Coast (in organization) will vote on the merger at a meeting on October 13, 2009, at The Naples Beach Hotel and Golf Club.

First National Bank of the Gulf Coast (in organization) also has received preliminary approval from the Federal Deposit Insurance Corporation (FDIC) for deposit insurance in connection with the proposed merger with Panther Community Bank, N.A. The resulting bank will be named First National Bank of the Gulf Coast and will be headquartered in Naples.