CompuPay Named Preferred Payroll Provider for Bay Cities Bank in Tampa, Florida

MIRAMAR, Fla., Aug. 19 /PRNewswire/ -- CompuPay, Inc. (www.compupay.com), one of the country's leading providers of payroll, tax filing and HR-related services, announced that it has been named the preferred outsourced payroll provider for Tampa, Florida-based Bay Cities Bank. The agreement will give Bay Cities Bank commercial clients convenient access to payroll and related services from a national payroll services company with a strong presence in the Tampa Bay area.

A wholly-owned subsidiary of Florida Business BancGroup Inc., Bay Cities Bank has $525 million in assets and is lead by an executive management team with over 130 years experience in the banking industry. Locally owned and operated with six full service branches in the Tampa area, Bay Cities Bank is committed to the success of its business clients.

"Bay Cities is excited about the opportunity to partner with a premier payroll provider," said Gregory W. Bryant, president & CEO of Bay Cities Bank. "CompuPay's demonstrated track record of outstanding customer service to mid and small business clients makes this strategic alliance a natural."

"We are pleased to welcome Bay Cities Bank to our growing list of partner banks," said Kathey Palmer, senior vice president, business development, for CompuPay. "Clients accustomed to receiving personalized service from Bay Cities Bank will be pleased with CompuPay's commitment to providing exemplary service. We look forward to saving Bay Cities Bank commercial clients the hassles of managing payroll and payroll taxes, as well as offering them a variety of important related services such as 401(k) plans, section 125 plans and workers' compensation insurance."

About Bay Cities Bank

Founded in 1999, Bay Cities Bank focuses on owner-managed businesses in the greater Tampa Bay area with annual sales of $25 million and less. Additionally, the bank has a significant book of business in the medical and legal sectors. Bay Cities Bank is one of the few Florida banks that has shown the ability to raise capital in the current environment. In the first quarter of 2010 Bay Cities successfully completed a $20 million plus stock sale which was oversubscribed.  

About CompuPay

CompuPay, Inc. was founded in 1980 and today is the second largest privately held payroll company in the U.S. and fourth largest overall. Its growing network of local offices processes payroll for tens of thousands of companies ranging in size from one to over 5,000 employees in all 50 states. The company offers payroll and employer-related services such as workers' compensation insurance, employee benefits, retirement plans and Section 125 and 132 plans to clients seeking highly flexible, innovative solutions to meet their growing business needs.

SOURCE CompuPay, Inc.

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