Meat Market location flipped to a financial institution

Dana Kilborne, president and CEO of Cypress Trust Company, showcases its newest branch in Melbourne, the former site of the Petty's Meat Market in Suntree.

Many area residents loved shopping at the old Petty’s Meat Market and lamented when it closed in 2019.

Cypress Trust Company later moved in, but not before doing the necessary extensive renovations.

“The building was in great shape,” said Dana Kilborne, the president and CEO of Cypress Trust Company. “We love the location and for our needs the envelope of the building was untouched except to add windows and changes to the inside.”

In a nod to the building’s former tenant, Kilborne said the market’s commercial kitchen was converted into the employee break room. The original granite topper of an aluminum work table, complete with cut marks and a corner missing, was preserved.

“We kept that (the granite countertop) and got a different table, and it serves as our breakroom table,” Kilborne said. “We were not able to keep the keg,” she joked.

The building’s interior has a modern, warehouse-look with high open ceilings, slim rectangular linear hanging lamps, artwork and a coffee bar. The original concrete floors were stripped of the old red paint and refurbished, bringing back their appeal.

With the new Melbourne location, the soon-to-be 25-year-old trust company based in Palm Beach, now has six branches along the periphery of the state. Having been granted approval from the state of Florida, Cypress Trust Company also will become a bank, offering banking services in addition to its current trust and management services, sometime this fall.

The new name will be Cypress Bank & Trust.

“Oftentimes when a business owner or professional gets to a certain point in their career or the lives of their business, they often have an opportunity to sell their companies or they amass some assets they want to invest or provide for children or grandchildren,” Kilborne said.

“The opportunity for us to have the trust business in-house will allow our bankers to refer clients to someone that they work alongside and for the client to have a more full-service offering.”

Cypress Bank & Trust will offer commercial products and a full array of consumer products.

“One of the things that was very interesting to us when we looked at the potential to add a bank was looking at the changes tech-wise,” Kilborne said. “What COVID taught is that it really accelerated people banking from their phones and laptops.”

“We have had folks that have walked in,” said Kilborne of the new Melbourne location. “We inevitably get the question of where the beer is,” she joked. “The reception to this base is very good. We’re excited.”

For more information go to cypresstrust.com or call the Brevard County branch at 321-306-4100.