<PAGE>   1


                                                                   Exhibit 10(e)

                           COMMERCIAL LEASE AGREEMENT

         This Commercial Lease Agreement is entered into this 14th day of
January, 2000, by and between VALRICO BANCORP, INC., a Florida corporation whose
address is 1815 East State Road 60, Valrico, FL 33594 (hereinafter "Lessor") and
VALRICO STATE BANK, a Florida banking corporation whose address is 1815 East
State Road 60, Valrico, FL 33594 (hereinafter "Lessee").

         In consideration for Lessee's obligation to fulfill the terms and
conditions herein stated, including, but not limited to the obligation to pay
rent, Lessor does hereby demise and lease the property located at 1815 East
State Road 60, Valrico, FL 33594, commonly known as the Valrico State Bank Main
Office whose legal description is as follows:

         The West 1/4 of the West 1/2 of the Northeast 1/4 of the Northeast 1/4
         of Section 25, Township 29 South, Range 20 East, Hillsborough County,
         Florida, LESS the South 809.60 feet thereof AND ALSO LESS right-of-way
         for State Road No. 60; AND the East 1/4 of the East 1/2 of the
         Northwest 1/4 of the Northeast 1/4 of Section 25, Township 29 South,
         Range 20 East, Hillsborough County, Florida, LESS the South 809.60 feet
         thereof, AND ALSO LESS the West 160.00 feet thereof AND ALSO LESS
         right-of-way for State Road 60.

                              TERMS AND CONDITIONS

SECTION 1 - TERM OF LEASE: The term of this lease shall be for a period of three
years commencing from the date of execution of this agreement. Upon the
expiration of the initial three year term, and provided that no substantial
breach by the Lessee exists at the time, the Lessee may extend the lease, on the
terms in effect at such time, including any modifications or adjustments made
subsequent to the date of execution, once every three years beginning from the
date of the initial expiration for up to four consecutive periods. Notice of
intent to exercise said options may be given by any reasonable means and need
not be in writing.

SECTION 2 - USE OF PREMISES: The intended us of the premises shall be banking
operations and all related activities. However, Lessee shall be permitted to
conduct any lawful business for which the premises are reasonably suitable
subject to the consent of the Lessor. Lessee warrants that it has received all
necessary statutory and regulatory approvals for us of the premises and has
obtained all necessary permits. Lessee further warrants that it is now and shall
remain in compliance with all zoning laws, building ordinances and similar
requirements.










                                        1
<PAGE>   2

SECTION 3 - RENT: Lessee shall pay to Lessor annual rent of $252,000, to be paid
in monthly installments of $21,000.00, the first installment to be due February
1, 2000 and each installment thereafter to be due on the first of each month.
Thereafter rent shall be adjusted, in good faith, taking into consideration
market prices, expenses, use of premises, regulatory limitations, mortgage
requirements and other factors, on an annual basis beginning one year from the
date of execution of this agreement, but shall not be greater than the amount
allowed by federal banking regulations promulgated by the primary regulator of
Lessee; nor less than $204,000 annually during such time as the Lessor's lending
relationship(s) so requires. If the parties fail to agree upon an adjustment
prior to the date upon which the first rental payment following the anniversary
of the execution of this lease is due, the rent in effect prior to the due date
shall remain in effect until an agreement is reached. Upon agreement of the
adjustment, the first payment due after such agreement is reached shall be
pro-rated from the date of the anniversary through the date of said payment
until such amount equals the amount of rent that would have been collected at
the newly adjusted rate minus the amount of rent paid at the non-adjusted rate
during such time. In the event that either Lessor or Lessee shall assign its
interest in this lease to a party not affiliated with the Lessor and Lessee and
such assignment shall result in the assignee exercising the right to adjust the
rent; or, in the event that Lessor or Lessee shall become unaffiliated, the
annual rental adjustment shall consist of an upward adjustment based on the
Consumer Price Index or a comparable federal indicator of a minimum of 4% of the
existing rental amount, but in no event greater than 6%.

SECTION 4 - UTILITIES, MAINTENANCE, REPAIRS AND IMPROVEMENTS: Lessee shall be
solely responsible for the payment of utilities including water, sewer,
electricity, etc. Lessee shall pay for all maintenance and repairs, except
repairs related to the foundation of the building, roofing, air conditioning or
other major repairs which shall be the responsibility of the Lessor upon proper
notice of the condition. Lessee shall maintain the premises in good condition
and shall maintain the premises in compliance with all applicable building
codes, ordinances and like statutes. Lessee may make alterations, modifications,
additions or improvements as needed or desired provided such serve to add to the
value of the premises, are necessary to comply with law or regulation or are
approved by the Lessor. Upon termination of this lease, Lessee may remove any
improvements and fixtures within thirty days of the termination provided that
Lessee restores the premises.

SECTION 5 - INDEMNIFICATION AND LIABILITY INSURANCE: Lessee shall indemnify and
hold Lessor harmless for any liability of claims for property damage or personal
injuries or attorney's fees, resulting from the actions of Lessee's agents of
the operation of Lessee's business on the leased premises or from a breach of
the terms and conditions of this lease agreement, including a failure to
maintain the premises in proper condition. Lessee shall pay to Lessor, upon
demand, any loss, damage award or expense, including attorney's fees, resulting
from such claims and shall defend Lessor against such claims as they may arise.
Lessee shall maintain, at its own cost, liability insurance in the name of the
Lessee and Lessor, with a company agreeable to Lessor, and in an amount
customary to the type of business operations and type of property.

SECTION 6 - TAXES AND CASUALTY INSURANCE: Lessee shall be solely responsible for
all taxes arising from the payment of the rent, all real property taxes, taxes
on tangible property located on the premises, taxes on the rental income or
other taxes and fees associated with the leased property and, or, the lease.
Lessee shall maintain, at its own cost, casualty insurance, in the name of the
Lessor, with the Lessee as an additional insured, in an amount sufficient to
replace the premises in the event of destruction. If Lessee




                                       2
<PAGE>   3

fails to pay any tax as it comes due or fails to maintain insurance as required,
Lessor may make such payment and seek reimbursement from Lessee.

SECTION 7 - INTERRUPTION IN USE OF PREMISES: In the event of damage which shall
cause a significant interruption in the use of the premises, Lessee shall inform
Lessor of said damage, Lessor shall have the option to repair the premises or
terminate the lease and, if Lessor chooses to repair the property, payment of
rent shall be reduced as appropriate during the period of disrepair. If any part
of the property shall be taken by governmental condemnation and such taking
effects the use of the property for the purposes of Lessee, Lessee shall have
the option to terminate the lease or to continue the lease with a reduction in
rent as determined by Lessor.

SECTION 8 - ACCESS BY LESSOR: Lessor shall have the right to enter upon the
premises for purposes of inspection or to repair the premises upon reasonable
notice to the Lessee. Lessor's access may be restricted as necessary to protect
the security of the banking operations of the Lessee. In the event that Lessee
abandons the premises, Lessor may enter the premises without notice and may
retake the premises.

SECTION 9 - ASSIGNMENT: Both Lessee and Lessor shall have the right to assign
this lease, however, such assignment shall not release the assignor from its
liability or responsibilities under the lease. Lessee must have the consent of
Lessor, which consent shall not be unreasonably withheld, prior to Lessee
assigning its interest. Assignment by the Lessee without such consent shall be
voidable by the Lessor at its option. Assignment to a subsidiary, affiliate,
division or other entity related to the party shall not be subject to said
consent requirement.

SECTION 10 - EVENTS OF DEFAULT AND REMEDIES: Failure to comply substantially
with any provision of this lease, including failure to pay rent when due, use of
the property for an improper purpose, failure to maintain the property in good
repair, failure to maintain insurance or failure to make repairs as necessary
shall be deemed events of default by the Lessee and, if not cured within 30
days, shall entitle Lessor to exercise any and all legal rights against Lessee,
including a suit for damages, the eviction and retaking of the premises or
similar actions. At its option, Lessor may make payments due by Lessee and seek
payment thereafter from Lessee. In addition, should a party to the lease
initiate bankruptcy proceedings, become insolvent, have a receiver appointed or
allow its interest in the lease to become subject to execution or legal process,
such action shall constitute an event of default and the party not in default
may terminate the lease. Should Lessee vacate the premises, Lessor shall have
the right to take possession of the premises and relet the premises. The parties
waive all rights to prior notice of default. All remedies herein expressed are
concurrent and are not intended to limit the available remedies of the parties.
In the event that either Lessee or Lessor shall retain the services of an
attorney to enforce its rights granted herein or granted by statute or
regulation, such party shall be entitled to reasonable attorney's fees, other
legal fees, and court costs for all consultations, settlement negotiations,
arbitrations, mediations, pre-trial proceedings, trials and appellate
proceedings.

SECTION 11 - SUBORDINATION: Lessee is aware that at the time of the making of
this lease, Lessor maintains or intends to maintain a mortgage upon the leased
premises granted to Independent Bankers Bank and Lessee agrees to subordinate
its interest to said mortgage whether said mortgage was in effect at the time of
the execution of this lease or not. Lessee further agrees that it will
subordinate its interest in this lease to any subsequently made mortgage
provided such mortgagee agrees that the rights of Lessee




                                       3
<PAGE>   4

shall remain in full force and effect provided Lessee is not in material default
under the terms and conditions of this lease. In addition, Lessee hereby grants
Lessor the authority to execute on its behalf any agreement necessary to effect
such subordinations. Upon proper notice and within a reasonable time, Lessee
agrees to execute an estoppel certificate confirming that Lessor is not in
default under the terms of this lease and confirming the amount due on the
lease.

SECTION 12 - NOTICE AND CONSENT: As to the original Lessee and Lessor, notice
and consent may be given by any reasonable means and need not be in writing.
Should either the Lessee or Lessor, or both, assign its interest in this lease,
other than a partial assignment of the right to payment, the notice requirements
shall be deemed to require a written evidence, even where otherwise indicated
herein, and all consents shall be in writing.

SECTION 13 - CONSTRUCTION OF THIS AGREEMENT: Captions and headings are for
organizational purposes only. The laws of the state of Florida shall govern this
agreement. This lease is intended to be the integrated agreement of the parties.
Waiver of one term or condition shall not be construed as waiver any other term
or condition and shall not be considered a waiver of future breaches of the same
term or condition. Modifications must be in writing to be effective except that
the annual rent adjustment shall be effective even in the absence of a writing
provided that adequate proof of the determination of the adjustment can be
produced.




















                                       4
<PAGE>   5

SECTION 14 - ACKNOWLEDGEMENT:

         The parties hereby execute this agreement on this _____ of January,
2000.


Lessee:                                    Lessor:
Valrico State Bank                         Valrico Bancorp, Inc.


By: ________________________________       By: ________________________________
    Jerry L. Ball, President and CEO           Jerry L. Ball, President and CEO


Witness:____________________________       Witness:____________________________


Witness:____________________________       Witness:____________________________


STATE OF FLORIDA
COUNTY OF HILLSBOROUGH

         The foregoing instrument was acknowledged before me this _____ day of
January, 2000 by Jerry L. Ball as President and CEO of Valrico State Bank, a
Florida banking corporation, on behalf of the corporation. He is personally
known to me and did not take an oath.


Notary Stamp:                              ____________________________________
                                           Notary Public


STATE OF FLORIDA
COUNTY OF HILLSBOROUGH

         The foregoing instrument was acknowledged before me this _____ day of
January, 2000 by Jerry L. Ball as President and CEO of Valrico Bancorp, Inc., a
Florida corporation, on behalf of the corporation. He is personally known to me
and did not take an oath.

Notary Stamp:                              ____________________________________
                                           Notary Public







                                       5