Northeast Florida boom: Jacksonville banking scales up

Key points:

• • Northeast Florida’s population influx — exceeding 100 new residents daily — is creating direct demand pressure that regional banks are actively converting into opportunities.
• • Logistics, manufacturing, and commercial and industrial lending are converging in Jacksonville.
• • Banking leaders across the market are treating staff development as a non-negotiable growth lever.

May 2026 — Jacksonville banking growth is accelerating alongside one of the country’s fastest-growing large metros. The region’s population grew nearly 10% between 2020 and 2024, while major developments, including the $215 million Four Seasons development, the $1.4 billion Jacksonville Jaguars’ “Stadium of the Future,” and a growing pipeline of downtown multifamily developments, continue driving investment across the city.

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Jacksonville has ranked among the hottest job markets in the United States in recent years. Healthcare, manufacturing, and financial services continue to diversify and stabilize the regional economy, while Jacksonville’s lower cost of living compared with South Florida remains a competitive advantage for both employers and talent.

The city and Northeast Florida area are positioned as a major port and transportation hub while strengthening its role as a center for logistics, manufacturing, and commercial and industrial growth, creating new opportunities for lenders operating across Northeast Florida. For financial institutions, the region’s continued expansion is translating into new office investment, market growth, and increased competition for both clients and talent.

Invest: Jacksonville spoke with regional banking leaders about the opportunities emerging from the market’s continued growth.

Thomas Cornish, COO, BankUnited

Jacksonville has been a quiet story, but it has registered impressive economic growth over the past five years, particularly in employment. The region has done a good job attracting new companies and strengthening sectors like healthcare, manufacturing, and financial services.

Compared with South Florida, Jacksonville still offers a lower cost of living, which supports continued growth. We have been in the market for about 10 years and are looking to expand further.

Leon Kally, Senior Vice President & Market President, Valley National Bank

Locally, Jacksonville’s growth has continued to accelerate in a way few large markets can match. The city was ranked the second hottest job market in the United States in 2024… and continues to lead large metros in labor force growth as companies relocate from the Northeast and Midwest to North Florida.

First, logistics, manufacturing, and C&I growth are increasingly interconnected in Jacksonville. The city’s position as a major port and transportation hub… has made Jacksonville a natural home for manufacturing, distribution, and value-added industrial businesses.

Brent Lister, President & CEO, First Florida Credit Union

In Florida, one solution does not necessarily fit the whole state. There are different demographics within the state, and if we expand beyond Florida, we have to evaluate delivery channels based on the environment we are working in and the skill sets of employees we can hire.

Sometimes organizations focus on dollars and cents or the metrics of success, such as growth. But we cannot get away from understanding that our employees are important to us, and staff development and engagement are important. As a leader, emphasizing staff development and the opportunities around that is important.

Luciano Noir-Jones, Jacksonville Market President, Ameris Bank

A figure I recently heard is that about 125 people move to Jacksonville every day. Those people need housing, professional services, and all the things that support daily life. Business owners are moving in as well, and others are expanding to serve that population growth.

We did open a new downtown office, and we are very excited about it. There is a lot of momentum downtown right now. You have the new stadium, the Four Seasons, new multifamily projects, Publix moving in, and when you add the port, the quality of life, and the fact that Jacksonville is still, relatively speaking, affordable, there is a lot going for the city.

Want more? Read the Invest: Jacksonville report.