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Raymond James Bank
Raymond James Bank was chartered in 1994 as a federal savings bank and operates today as the deposit-taking and lending subsidiary of Raymond James Financial.
Raymond James Bank
Raymond James Bank was chartered in 1994 as a federal savings bank and operates today as the deposit-taking and lending subsidiary of Raymond James Financial. It is headquartered at the parent company's campus in St. Petersburg, Florida. Unlike standalone commercial banks, its loan book is built primarily to serve the brokerage clients and financial advisors of the broader Raymond James ecosystem. The bank allocates across three lending verticals: residential mortgages, securities-based loans, and commercial loan syndications. The mortgage business includes down-payment assistance programs tied to state housing bonds. Commercial activity focuses on purchasing participations in broadly syndicated corporate loans, pairing credit risk with the low-cost funding base provided by client deposits and sweep accounts. The balance sheet reached $35.3 billion in total assets as of September 2024 (per FDIC Call Report, Q3 2024). Loan balances exceeded $25 billion. The deposit franchise benefits structurally from the $1.5 trillion in client assets held at Raymond James — sweep balances and certificates of deposit that provide a durable, low-cost funding source isolated from wholesale market volatility. Structurally, the bank functions as an internal funding utility rather than a standalone profit center. Its credit appetite is shaped by the wealth-management parent’s risk tolerance and the deposit base it absorbs. In May 2024, Raymond James promoted Paul Shoukry to CEO of the parent company, signaling generational succession at the top of the holding structure that governs the bank’s mandate.
General information
Firm type
Bank / Wealth / Trust
Year founded
1994
Location
Region
North America
Country
United States
City
St. Petersburg
Corporate office
710 Carillon Parkway, St. Petersburg, FL 33716, United States
Sector focus
Frequently asked questions
How does Raymond James Bank fund its loan portfolio?
The bank is funded primarily through client deposits and sweep account balances from the Raymond James wealth-management and brokerage network. This structure gives it a cost of capital advantage relative to wholesale-funded lenders, because the deposit franchise is sourced from long-tenured retail and advisory relationships rather than institutional markets.
What types of lending does the bank engage in?
Raymond James Bank originates residential mortgages, securities-based loans, and participates in corporate loan syndications. Its mortgage offering includes access to state bond down-payment assistance programs. The securities-based lending product allows advisory clients to borrow against investment portfolios for purposes such as business expansion or real estate purchases.
Is Raymond James Bank structured as a separate entity from the broker-dealer?
Yes. The bank is a federally chartered national bank and a wholly owned subsidiary of Raymond James Financial. It is separately regulated by the Office of the Comptroller of the Currency and operates its own balance sheet, though its lending strategy is closely aligned with the brokerage and advisory businesses of the parent.
Does the bank participate in direct corporate lending or only syndications?
The commercial loan book is built by purchasing participations in broadly syndicated corporate loans rather than originating bilateral loans directly. This syndication-based approach allows the bank to deploy deposit funding into diversified corporate credit exposure without building a large corporate origination team.
What is the known scale of the balance sheet?
According to the FDIC Call Report for the third quarter of 2024, Raymond James Bank held $35.3 billion in total assets with loan balances exceeding $25 billion. These figures place it among the largest bank subsidiaries housed within a U.S. wealth-management firm.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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