Miami’s smallest Banks are protecting themselves

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The largest banks in Miami city have been regularly sold since 2018. Since then, 24 business agreements have been signed, in which the sales of TotalBank, F.C.B. Financial and Gibraltar Private Bank are included. TransCapital Bank, located in Sunrise, Florida, was likewise sold in March of this year, being acquired by the Power Financial Credit Union by $655mil, in Pembroke Pines.

TransCapital Bank was a retail commercial bank found in South Florida with over $2.700mil in assets spread through 19 different offices in the Miami-Dade County, from where it offered its banking services to national and international corporations, small businesses and particular clients.

F.C.B. Financial Holdings sponsored many products and financial services to individuals, small, medium and large businesses, as well as other entities and organizations located in South and Central Florida. Meanwhile, the smallest banks still in operation are making an effort to protect themselves and avoid the need to sell their assets, and continue operating as usual.

In Banesco U.S.A., located in Coral Gables, Florida, we have received over $11mil in capital to be invested in new online and mobile banking tech platforms for our clients.
In 2018 we started looking for these new tech partnerships and in April of this year, Banesco U.S.A. got the chance to join Silicon Valley’s Plug and Play, which will grant the bank access to this platform in order to optimize its commercial and user services.

Plug and Play is a program designed to introduce startups to the Silicon Valley environment. Though talks, tutoring sessions and active coaching, the client will receive the necessary tools to present their proposal to investors.

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