Dollars and Sense Series – Women in Top-Level Positions in Banking – Flagler’s Intracoastal Bank Leads the Way
Dollars and Sense Series
Women in Top-Level Positions in Banking – Flagler’s Intracoastal Bank Leads the Way
Although women have a predominant presence in the American banking industry today, that same presence is not found at the industry’s senior management level. Over half of the employees in American banking today are women. Yet, even with significant efforts of the banking industry as a whole to level the playing field, recruiting and training women for top-level positions, women currently only make up 17.9% of the top level positions in banking (Graff, E. J., “Discrimination Against Women in Banking”, www.americanbanker.com, October 1, 2011).
In promoting Cheryl Tanenbaum to the position of Senior Vice President, Chief Financial Officer this past July, Intracoastal Bank, “Flagler’s Home Town Bank”, not only increased the percentage of women in senior level positions, but set precedence in banking in Flagler County. With approximately eleven banks located in Flagler County, Tanenbaum is the only woman occupying this high level position. Bruce Page, Intracoastal Bank’s President and Chief Executive Officer, and the bank’s Board of Directors are very proud of this significant accomplishment.
Cheryl Tanenbaum, a twenty-two year resident of Flagler County, came to Florida from Plainview, New York, where she earned a Bachelor of Science degree in Business Management and Communications from Adelphi University.
Tanenbaum has been in banking for twenty-eight years. She started as a bank teller and diligently worked her way up the ladder. “I’ve held numerous positions over the years, so I have a broad understanding of banking”, says Tanenbaum. Upon moving to Florida, she worked for Barnett Bank, which later became Bank of America. When Tanenbaum left Bank of America in 1999, she was the Assistant Vice President. She was responsible for the operations of two of the largest branch offices in the Volusia/Flagler market.
Tanenbaum then teamed up with banking veteran Bruce Page and they went on to startup the first two “true” community banks in Flagler County; Cypress Bank and today’s Intracoastal Bank. Tanenbaum comments, “Bruce has been a true mentor to me over the past seventeen years. He has always supported me and helped me grow in this business. With two successful banks under our belts, I feel very proud of what we’ve accomplished together.”
When Flagler’s only woman bank Senior Vice President and Chief Financial Officer is not shaking up the banking industry, Tanenbaum spends her time with her family; Larry, her husband of twenty-four years and three children; Jonathan, twenty-two, who just graduated from University of Florida, Russell, twenty, who is a cosmetology graduate from Daytona State College and Sammi, fifteen, a sophomore at Matanzas High School. Tanenbaum also stays very active in the Flagler community, where her focus and passion is helping children. She is a mentor for the Take Stock in Children Program, the Treasurer/Chairperson for the Senior Scholarship Committee, serves on the Board of the Flagler County Education Foundation, a committee member of the United Way Volusia/Flagler, Women’s Initiative of Flagler County, a facilitator for FDIC Money Smart classes for adults and youths, and the past Treasurer of the American Business Women Association.
Clearly, Cheryl Tanenbaum has not let any grass grow under her feet since hitting Florida soil. Today, when very few women have climbed the banking ladder, Tanenbaum not only moved up the rungs, but broke through the infamous “glass ceiling”. “Cheryl has played a key role in the bank’s success and we are very proud that our bank has set the example in Flagler County”, says Intracoastal Bank’s President and Chief Executive Officer, Bruce Page.
Intracoastal Bank was conceived by a group of Flagler County business people who had the vision to establish a truly local “hometown community bank.” Flagler County is located along the Atlantic coast between Daytona Beach and Jacksonville in Northeast Florida. The Bank’s office, at 1290 Palm Coast Parkway NW in Palm Coast, FL, opened in June 2008. Most recently, the bank announced the launch of a leading office in Ormond Beach, Florida.
Intracoastal Bank offers the products and services that a large bank offers with the personal and friendly touch that only a true hometown bank can offer. Offering the best technology available, the bank can customize products and services to meet the needs of both corporate and retail customers.
Intracoastal Bank believes in giving back to our community. The employees live and work in the community and volunteer many hours to help make the community a better place to live. Deposits are kept in our county to benefit our local economy. This helps our community to be more prosperous.
- Be recognized as the best financial services company in our community.
- Provide the highest quality personalized banking service to our customers.
- Provide customized financial products and service designed to meet the unique needs of our community.
For more information, call 386-447-1662, or visit them on the web at www.intracoastalbank.net. Facebook: https://www.facebook.com/intracoastalbank. Twitter: https://twitter.com/#!/intracoastalbnk.