Locality Bank’s Keith Costello Named Chair of the Florida Bankers Association

 TALLAHASSEE, Fla. – Keith Costello, Chairman, President and CEO of Locality Bank in Fort Lauderdale, has been named Chair of the Florida Bankers Association (FBA). His appointment was announced during the FBA’s 137th Annual Meeting. 

Costello succeeds Derek Jones, Central Florida Region Executive at Wells Fargo, and brings to the role a strong record of entrepreneurship, community engagement and industry advocacy. A veteran banker and two-time de novo founder, Costello’s leadership is expected to emphasize innovation, regulatory reform and the future of community banking in Florida. 

Costello’s involvement with the FBA began in 2008 during the formation of his first bank. His early participation in FBA-led advocacy trips to Washington, D.C. left a lasting impression and helped spark a long-standing commitment to advancing the voice of Florida bankers. 

As FBA Chair, Costello plans to prioritize issues such as regulatory modernization, digital transformation, and support for new bank formation. “The industry has seen significant consolidation, and the pace of new bank creation hasn’t kept up,” Costello said. “We must foster an environment where community banks can thrive, because they play a vital role in serving local markets and promoting economic growth.” 

Costello is a passionate advocate for the responsible integration of technology in banking, especially among smaller institutions. 

FBA President and CEO Kathy Kraninger praised Costello’s approach. “Keith is an entrepreneurial leader who truly understands the intersection of technology and community impact,” she said. “His deep commitment to advocacy and innovation will serve the FBA well in the year ahead.” 

Costello co-founded Locality Bank in 2022 to address the sharp decline in community banking across Broward County. In just three years, the bank has grown to more than $300 million in assets and has become a trusted partner for small and mid-sized businesses throughout the region. 

Costello will be followed by FBA Chair-Elect Garrett Richter, Florida Market President of First Foundation Bank in Naples, who will serve a term as FBA Chair in 2026-2027. 

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Through advocacy, education and engagement, the Florida Bankers Association (FBA) supports Florida bankers in better serving their customers and communities. Established in 1888, FBA today represents more than 150 banks of all sizes, and their dedicated 134,000+ employees, operating in the state of Florida.