A group of 11 business leaders, most of whom are residents of the Destin area, filed for a banking charter to establish GulfSouth Private Bank in Destin, Fla., in early 2005. The area has experienced strong growth and there has been a trend of community banks consolidating into larger regional banks. As a result, the Destin area is without a locally owned bank. That is why GulfSouth directors recognized the need for a well-run, customer-service-driven community bank in Okaloosa and Walton counties and are making that happen.