FDIC and OFR grant regulatory approval to Banesco USA for the acquisition of Brickell Bank. More information on our news section. Banesco recibe aprobación para adquirir Brickell Bank. Mas información en Noticias.

Banesco USA provided loan to the buyer of an office building near Lincoln Road

By 

Senior Reporter, South Florida Business Journal

Banesco USA financed office building near Lincoln Road

An affiliate of Miami-based Integra paid $10.1 million for a three-story office building just north of Lincoln Road in Miami Beach.

Ivy MBT Property, an affiliate of Ivy Realty in Montvale, New Jersey, sold the 33,384-square-foot office building at 1674 Meridian Ave. to 1674 Meridian Ventures LLC, an affiliate of Miami-based Integra led by Nelson Stabile. Banesco USA provided a $12.57 million loan to the buyer.

The price equated to $303 per square foot.

The office building was developed on the 8,250-square-foot lot in 1959. The ground-floor space is retail.

Office space in the building was recently listed for lease online at $34.50 per square foot.

Visit the South Florida Business Journal for more details.

Only locals would know…

The “Sunshine State” has so much to offer visitors and residents besides​ abundant sunshine, warm weather and beautiful coastlines.

South Florida remains a popular destination for celebrity watchers, great restaurants and nightlife and the Florida Keys are the perfect tropical getaway. If you are planning to visit its beautiful beaches, make sure you are aware of what the flags mean.

You might not want to jump in the water when it’s infested with jellyfish, when there is a high surf or when currents are so strong that not even a professional swimmer could overcome them.

South Florida’s beaches use a uniform flag warning system to alert the public of potential safety risks. The flags are color-coded rather than printed with written messages. This is due, in part, to many tourists and locals that are not fluent in English, and also because colors can be easily seen from a distance when words cannot.

According to the local government, the flag color meanings are as follows:

Red flags with a “no swimming” symbol indicate that the water is closed to the public. This includes swimming, boating, surfing, fishing, and wading.

Red flags without a symbol indicate a high hazard from surf and/or currents. While not recommended, swimming and surfing are still permitted if there is a red flag present. However, you should use extreme caution and only go in the water if you are a very strong swimmer.

Yellow flags indicate a medium hazard from moderate surf and/or currents; strong swimmers can still dive in with fairly mild risks.

Green flags indicate a low hazard with calm conditions, but beachgoers should still exercise caution, especially when children are present.

Blue or purple flags indicate a hazard from dangerous marine life, such as a high concentration of poisonous jellies, stingrays, or sharks. These flags are used in conjunction with a red, yellow, or green flag that indicates the current surf/current conditions.

Now that you know what the flags mean, go and enjoy South Florida Beaches.

According to the Miami Herald these are the best beaches in Miami-Dade, Broward and The Florida Keys.

Miami – Dade Beaches

SUNNY ISLES BEACH/GOLDEN BEACH

Where: On A1A from 163rd Street to the Broward County line

Crowd: Local residents and families.

Details: William Lane’s new exuberant, Deco-styled pavilion at 163rd Street revisists Sunny Isles Beach’s 1950s-futurism, even though the kitschy area motels are rapidly falling victim to condo creep. Few amenities here, but the beach is fine, and only locals know about it. As for Golden Beach, forget it. That’s for residents only.

HAULOVER PARK BEACH

Where: On A1A around 10800 Collins Avenue

Crowd: Families, nudists

Details: This long, sloping beach would be rather unremarkable save for one thing: The northernmost section is clothing optional. Otherwise, it’s a somewhat run-down and rugged beach that could use a little refurbishing. Other than serving as Miami-Dade’s only legal haven for nudists, Haulover offers the usual amenities: picnic area, showers, lifeguards and concession stands.

SURFSIDE

Where: From 87th Terrace to 96th streets

Crowd: Somewhat older residents.

Details: A wholly unpretentious area with a walking path, dunes and no clutter.

NORTH SHORE OPEN SPACE PARK

Where: On A1A and 72nd Street in Miami Beach

Crowd: Nature lovers

Details: Find long stretches of sand, picnic areas, better than average restrooms, showers and lifeguards. A good nature-lover’s spot, as well, with areas of sea grapes, dunes and decent sand. An often overlooked, but charming gem among Miami-Dade beaches.

MIAMI BEACH, MID-BEACH

Where: Between 22nd and 46th streets behind the hotels.

Crowd: Tourists

Details: The appearance of luxury hotels – Faena, Soho Beach House and Edition, among others – has transformed this beach, which once had a distinct lack of ambiance. You can stroll the boardwalk, but you’re probably not going to come here unless you’re staying in one of the hotels.

SOUTH BEACH

Where: Along Ocean Drive from the Government Cut area to about 22nd Street.

Crowd: Anything goes – and does.

Details: The ocean is still the best thing South Beach has to offer. You’ll see tourists and natives here. The natives are usually riding bikes, Rollerblading or running along the path that winds all the way down to South Pointe Park Pier. The fitness-minded work out on the equipment in Lummus Park at Ninth Street,

CRANDON PARK BEACH

Where: On Key Biscayne south of the Seaquarium (4000 Crandon Blvd.)

Crowd: Families from inland Miami.

Details: It has a long stretches of soft sand for spreading the towel out and soaking up the sun. Palm trees dot the sand and make shade. This is actually the perfect beach for families. There are lifeguards, some concessions and picnic areas with tables and grills.

BILL BAGGS CAPE FLORIDA STATE RECREATION AREA

Where: End of Key Biscayne.

Crowd: Families, snorkelers.

Details: The well-shaded beach and park is beloved by families who spend weekends at the plentiful barbecue grills and picnic tables, play areas and restrooms. For those seeking serenity, this is one quiet spot to absorb nature. Cape Florida, located at the farthest end of Key Biscayne offers 1.25 miles of sandy beach. Bring along the snorkel and fins, because there’s lots of interesting sea life a few yards away from shore.

MATHESON HAMMOCK PARK

Where: 9610 Old Cutler Road in Miami.

Crowd: Families, on the young side.

Details: This isn’t really a beach per se, but it boasts a man-made atoll pool that gets its waters from the tides sweeping Biscayne Bay. The bottom is rather slimy and murky but the surrounding park is lovely and families love it here for good reason. There are picnic pavilions and nature trails.

HOMESTEAD BAYFRONT PARK BEACH

Where: 9698 SW North Canal Dr., Homestead.

Crowd: Families hunkering down around the BBQ.

Details: Features an atoll beach with amenities including a marina, snack bar, barbecue grills, rental picnic shelter, a playground and lifeguards.

Broward County Beaches

DEERFIELD BEACH

Where: Southeast 10th Street to the Palm Beach County line.

Crowd: Families, fans of fishing, surfers.

Details: A 980-foot pier at the north end provides a great spot to fish (or watch other people fish). Surfing is allowed on the north side of the pier, and volleyball courts are available.

POMPANO BEACH

Where: Atlantic Boulevard to Northeast 16th Street.

Crowd: Water sport aficionados, anglers, families.

Details: This big, broad beach has the staples: picnic areas, playground, volleyball courts and parking. It also boasts a municipal pier with a snack bar. Fish from the pier. You can rent a pole; the nearby tackle shop sells bait. Surfers can do their thing north of the pier. Rent water equipment or launch your own – launch area is Northeast 16th Street.

LAUDERDALE-BY-THE-SEA

Where: At Commercial Boulevard.

Crowd: Tourists, families with small kids, some locals.

Details: Feel like you’re on vacation even if you live 10 miles away. The town is full of Old Florida-style shops and restaurants, offering ice cream, seashell wares and food served al fresco. Cute motels and Anglin’s Fishing Pier add to the charm. There are no lifeguards, so swim at your own risk.

FORT LAUDERDALE

Where: From Harbor Beach north of Port Everglades Inlet to Oakland Park Boulevard.

Crowd: Everyone. Tourists, families, nature lovers, sports fans, shoppers, spring breakers.

Details: Starting from the south: Harbor Beach, between Port Everglades Inlet and the 17th Street Causeway, boasts powder-soft sand but access is tricky, with no parking in sight. Instead, walk or bike or stay in one of the hotels that front the beach. Families cluster south of Las Olas Boulevard, near the playground and picnic tables, as well as volleyball and basketball courts and equipment rentals. More action awaits just north of Las Olas Boulevard, with the landmark Elbo Room, bars, restaurants, shops, bikers, in-line skaters and that lovely beach wall. At Sunrise Boulevard, Hugh Taylor Birch State Park has a tunnel to the beach; here you can picnic, camp, bike, canoe and more. Serenity reigns as you head north to Oakland Park Boulevard: no shops, no tourists (well, fewer tourists) and also, inevitably, scarce parking.

JOHN U. LLOYD BEACH STATE PARK

Where: 6503 N. Ocean Dr., Dania Beach.

Crowd: People who prefer wetlands to hotels and t-shirt shops as a beach backdrop.

Details: The 251-acre park, adjacent to Port Everglades, offers a subtropical coastal hammock with nature trail, wetlands area, picnicking, kayak and canoe rentals and a boat ramp. It sits between the Atlantic and the Intracoastal Waterway.

DANIA BEACH

Where: Dania Beach Boulevard.

Crowd: Folks who love the beach, but not the crowds.

Details: Despite its location near Fort Lauderdale-Hollywood International Airport, Dania Beach is a quiet little jewel with a fishing pier, tiki-style huts and soft sand. If you get hungry, there’s a Quarterdeck restaurant on the pier.

HOLLYWOOD

Where: North of Hallandale Beach Boulevard; North Beach Park is at Sheridan Street.

Crowd: Families, couples, exercise buffs and, when the season is right, snowbirds from Quebec.

Details: Hollywood offers a beach for everyone. Want to sunbathe against a backdrop of faded glory? Stake out some sand in front of the old Hollywood Beach Resort at Hollywood Boulevard. Want to shop, bike, eat, people-watch or hear a beachside concert? Hit the Broadwalk; the band shell is at Johnson Street. Want to take the family out for a nature-friendly day in the sand? Try North Beach Park at Sheridan Street, where a sea-turtle hatchery adds an eco note to the fun. The north and south ends of Hollywood Beach are comparatively quiet and uncrowded, with peak activity around the giant Margaritaville resort, which towers over the smaller mom-and-pop motels and businesses.

HALLANDALE BEACH

Where: Hallandale Beach Boulevard and State Road A1A.

Crowd: Condo dwellers

Details: The landmark beach ball water tower stands guard over the county’s southernmost shores. So do the condos. The beach offers bocce ball courts as well as showers, lifeguards, a playground and concession stands.

The Keys

CLARENCE S. HIGGS MEMORIAL BEACH

Where: Near the south end of White Street on Atlantic Boulevard in Key West.

Crowd: Families, tourists.

Details: This beach is on the small side, but includes picnic shelters and a pier.

SMATHERS BEACH

Where: On South Roosevelt Boulevard west of the airport in Key West.

Crowd: Volleyball players, sunbathers, tourists. (It’s Key West, after all.)

Details: A long stretch of sand populated with palms, the beach is a nice place to seek refuge from the excesses of Duval Street. Volleyball nets beckon, as do rental options for water sports.

BAHIA HONDA STATE PARK

Where: Between Mile Markers 36 and 37 on Bahia Honda Key.

Crowd: Campers, snorkelers, explorers, fishermen, boaters, shallow-water wanderers and gazers.

Details: You can do just about anything here. Stay overnight in a cabin or tent and wake to the golden sunrise. Swim in the Atlantic or the Florida Bay. Wade through shallow, crystal-clear water. Ride a bike. Boat, fish or just park yourself on the attractive sand and relax.

FDIC and OFR grant regulatory approval to Banesco USA for the acquisition of Brickell Bank

Miami, FL – August 20th, 2019 – Banesco USA, announced today it has received final communications from the Federal Deposit Insurance Corporation (FDIC) and the Florida Office of Financial Regulation (OFR), approving its acquisition of Brickell Bank. At closing of the acquisition, Brickell Bank will be merged into Banesco USA, and the resulting institution will be Banesco USA. The complete conversion of systems of the merged institution is tentatively scheduled for this fall.

“This is a momentous occasion in Banesco’s history, and we’re thrilled that Brickell Bank is a synergetic fit on multiple levels,” said Carlos Palomares, Chairman of the Board of Directors of Banesco USA.

The two organizations signed an Agreement and Plan of Merger for Brickell Bank to be acquired by Banesco USA Bank which was announced on May 14th, 2019.

Once the conversion is complete, Brickell Bank customers will enjoy a broader and more robust set of product and customer service offerings, while Banesco USA will gain entry into the Brickell corridor. The acquiring bank will also enhance its standing in the residential mortgage and trade finance segments. “Geographically, we now have presence across South Florida, including the important Brickell corridor. Additionally, Brickell Bank’s business model expands our offering into segments such as residential mortgages and trade finance. In short, taking care of our valued clients is the top priority, and this partnership greatly enhances our added value-add,” said Jorge Salas, President and CEO of Banesco USA.

The acquisition further accelerates Banesco USA’s momentum having reported record breaking growth in 2018 in its top and bottom-line, expansion to new markets, including a new business center in Aventura, Florida, and a recent “Business of the Year Award” by the South Florida Business Journal.

About Banesco USA

Founded in 2006 and based in Coral Gables,  Banesco USA is an independent Florida state-chartered bank with $1.3 billion in assets as of March 31st, 2019.  Banesco USA is completely independent of  Banesco  in other countries and its deposits are insured by the FDIC. The bank has  five branches in South Florida: Coral Gables, Doral, Hialeah, Weston and Aventura; and one in San Juan, Puerto Rico.  Visit  www.BanescoUSA.com  for information.

 

 

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Press Contact:

Renee Alvarez

Pinta for Banesco USA

ralvarez@pintausa.com

(305) 615-1111 ext 114

Reguladores otorgan aprobación a Banesco USA por la adquisición de Brickell Bank

Miami, FL –20 de agosto de 2019– Banesco USA, anunció hoy que recibió comunicaciones finales de la Corporación Federal de Seguro de Depósitos (FDIC) y la Agencia de Regulación Financiera de Florida (OFR), aprobando su adquisición de Brickell Bank.  Al cierre de la adquisición, Brickell Bank se fusionará con Banesco USA, y la institución resultante será Banesco USA. La conversión completa de los sistemas de la institución fusionada está programada tentativamente para este otoño.

“Esta es una ocasión trascendental en la historia de Banesco, y estamos muy entusiasmados de que Brickell Bank sea una opción sinérgica en varios niveles”, comentó Carlos Palomares, Presidente de la Junta de Directores de Banesco USA. 

Las dos organizaciones firmaron un Acuerdo y un Plan de Fusión para que Brickell Bank sea adquirido por Banesco USA Bank, que se anunció el 14 de mayo de 2019.

Una vez que se complete la conversión, los clientes de Brickell Bank disfrutarán de propuestas de productos y servicio al cliente más amplias, mientras que Banesco USA podrá ingresar al área de Brickell. El banco comprador también mejorará su presencia en los segmentos de hipotecas residenciales y financiamiento de operaciones comerciales. “A nivel geográfico, ahora tenemos presencia en el sur de la Florida, lo que incluye la importante área de Brickell. Además, el modelo empresarial de Brickell Bank expande nuestra propuesta a segmentos como los de hipotecas residenciales y financiamiento de operaciones comerciales. En pocas palabras, cuidar de nuestros valiosos clientes es la principal prioridad y esta sociedad mejora muchísimo nuestro valor agregado”, añadió Jorge Salas, Presidente y CEO de Banesco USA.

Además, la adquisición acelera el impulso de Banesco USA, que ya reportó un crecimiento récord en 2018 en sus ingresos y resultados financieros, expansión a nuevos mercados, que incluye un nuevo centro de negocios en Aventura, Florida, además de haber obtenido recientemente el premio “Business of the Year Award” del South Florida Business Journal. 

 

Sobre Banesco USA

Fundado en 2006 y con sede en Coral Gables, Banesco USA es un banco independiente autorizado por el estado de Florida con $1.3 mil millones en activos a fecha del 31 de marzo de 2019. Banesco USA es completamente independiente de Banesco en otros países y sus depósitos están asegurados por la FDIC. El banco tiene cinco sucursales en el sur de Florida: Coral Gables, Doral, Hialeah, Weston y Aventura; y una en San Juan, Puerto Rico. Visite www.BanescoUSA.com para obtener información.

 

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Contacto de prensa: 

Renee Álvarez

Pinta for Banesco USA

ralvarez@pintausa.com

(305) 615-1111 ext. 114

Banesco USA is ranked #5 in “100 Fastest Growing Companies in Miami”

MIAMI – August 13th, 2019 –  Banesco USA announced that it has been ranked #5 in Growjo’s “100 Fastest Growing Companies in Miami”. The bank’s ranking is based on a series of high-growth indicators that include employee size, brand awareness, funding, acquisitions, hiring plans, new locations and additional trigger events that formulate and predict the company is growing at an increased rate and/or is poised to grow significantly over the next 3-6 months, according to Growjo.

“We are proud of the recognition and of the collective efforts of our entire team, which is without doubt our biggest asset,” said Jorge Salas, Banesco USA President and CEO.

Rankings on Growjo 10000 reports are based on a data point algorithm formulated to identify companies that are on a steadily increasing growth path, according Tom Blue, CEO of Growjo. “We are excited to share the achievements of the company rankings on our site because they represent the highest growing companies and those companies that are predictively poised for growth in the foreseeable future,” he said.

As further evidence of the company’s growth, the Coral Gables-based bank announced recently it has entered into an agreement to acquire Brickell Branch. Geographically, this is an entrée to the Brickell corridor which remains the epicenter of finance both here and across the region. The bank also reported 2018 increases in its total loans by 16 percent, total assets by 19 percent, and deposits by 20 percent as well as receiving a capital injection of $11 million from its shareholders to close the year.

 

 

Banesco USA ocupa el puesto n.° 5 en “Las 100 compañías de más rápido crecimiento en Miami”

MIAMI – 13 de agosto de 2019 – Banesco USA anunció que ha sido clasificada como la número 5 en las “100 compañías de más rápido crecimiento en Miami”. La clasificación del banco se basa en una serie de indicadores de alto crecimiento que incluyen el tamaño de la plantilla de empleados, el reconocimiento de la marca, la financiación, las adquisiciones, los planes de contratación, las nuevas ubicaciones y los eventos de activación adicionales que formulan y predicen que la compañía está creciendo a un ritmo acelerado y/o está preparado para crecer significativamente en los próximos 3-6 meses, según Growjo.

Estamos orgullosos del reconocimiento y del esfuerzo colectivo de todo nuestro equipo, que es sin duda nuestro mayor activo ”, dijo Jorge Salas, Presidente y CEO de Banesco USA.

Las clasificaciones en los informes Growjo 10000 se basan en un algoritmo de puntos por datos formulado para identificar empresas que están en una senda de crecimiento en constante desarrollo, según Tom Blue, CEO de Growjo. “Estamos entusiasmados por compartir los logros de las clasificaciones de las empresas en nuestro sitio porque representan a las empresas de mayor crecimiento y aquellas que se pronostican van a crecer en el futuro próximo”, dijo.

Como evidencia adicional del crecimiento de la compañía, el banco con sede en Coral Gables anunció recientemente que ha firmado un acuerdo para adquirir Brickell Branch. Geográficamente, esta es una entrada al corredor de Brickell que sigue siendo el epicentro de las finanzas tanto aquí como en toda la región. El banco también informó incrementos en 2018 en sus préstamos totales en un 16 por ciento, activos totales en un 19 por ciento y depósitos en un 20 por ciento, además de recibir una inyección de capital de $11 millones de sus accionistas para cerrar el año.

 

BANESCO USA Firma Acuerdo Para Adquirir Brickell Bank

Adquisición marca año de hitos para Banesco USA el cual recién anuncio crecimiento record, expansión a nuevos mercados y fue premiado “Negocio del Año” por South Florida Business Journal

MIAMI, FL – 14 DE MAYO DE 2019 – Banesco USA, recientemente nombrado “Negocio del Año” por South Florida Business Journal, anunció hoy un acuerdo para adquirir a Brickell Bank de su principal accionista, Banco Espirito Santo, SA Liquidación (“BES”). La entidad combinada llevará el nombre y la marca corporativa de Banesco USA. La transacción está sujeta a aprobación regulatoria.

El acuerdo impulsa aun mas a Banesco USA, el cual ha experimentado un crecimiento récord en cuanto ingresos y rentabilidad y continúa su expansión a nuevos mercados incluyendo la esperada apertura de un nuevo centro de negocios en Aventura, Florida.

“Estamos encantados de anunciar esta transacción y creemos que Brickell Bank representa un complemento excepcionalmente estratégico en múltiples niveles,” dijo Jorge Salas, presidente y director ejecutivo de Banesco USA. “Geográficamente, representa una entrada a la zona de Brickell que sigue siendo el epicentro de las finanzas aquí y para la región. Además, el modelo de negocios de Brickell Bank refuerza la estrategia de Banesco USA al abrir puertas a otros niveles en los segmentos de hipotecas residenciales y financiamiento comercial.

Brickell Bank, ubicado en el centro de Brickell y fundado en 1973, ofrece una amplia gama de servicios financieros personales y corporativos para su clientela local e internacional.

“Estamos entusiasmados con el potencial de ser parte de Banesco USA y lo que significa para nuestros clientes. Los recursos, la escala, la huella geográfica y el conjunto completo de productos y servicios bancarios de Banesco USA resultarán en servicios expandidos para nuestros clientes y tendrán un mayor alcance,” dijo G. Frederick Reinhardt, Presidente y CEO de Brickell Bank. “El 2019 ha tenido un comienzo sobresaliente con la firma de este acuerdo de fusión y el levantamiento de la orden de consentimiento AML / BSA,” continuó el Sr. Reinhardt.

Banesco USA es una institución con profundas raíces en las comunidades a las que sirve, teniendo un sólido balance y un historial exitoso de adquisición e integración de instituciones financieras. Su misión es proporcionar la mejor y más segura experiencia bancaria respaldada por nuevas tecnologías capaces de hacer la banca más cada vez mas conveniente para sus clientes. Banesco USA tanto como Brickell Bank son empresas altamente comprometidas con sus comunidades, y la entidad combinada continuará apoyando un fuerte programa de reinversión comunitaria.

Avila Rodriguez Hernandez Mena & Ferri LLP se desempeñaron como asesores legales de Banesco USA y Shutts & Bowen LLP se desempeñó como asesor legal de Brickell Bank.

 

Sobre Banesco USA
Fundado en 2006 y con sede en Coral Gables, Banesco USA es un banco independiente del estado de la Florida (https://banescousa.com/OFR-Cert-of-Good-Standing.pdf) con $ 1.3billion en activos desde el 31 de marzo de 2019. Banesco USA es un holding independiente  y sus depósitos están asegurados por la FDIC. El banco tiene cuatro sucursales en el sur de la Florida: Coral Gables, Doral, Hialeah y Weston; y uno en San Juan, Puerto Pico. Además, tiene previsto abrir una sucursal en Aventura, FL, en el segundo trimestre de 2019. Banesco USA tiene una calificación de 5 estrellas del servicio de calificación de Bauer Financial y una calificación de BB-Fitch. Visita a www.BanescoUSA.com para mayor información.

Sobre Brickell BankBrickell Bank, Florida, con sede en Florida desde 1973, se dedica a a proporcionar servicios de gestión patrimonial, servicios bancarios personales y corporativos, préstamos inmobiliarios residenciales y comerciales, seguros y servicios de financiación a individuos, instituciones y corporaciones nacionales e internacionales. Brickell Bank ofrece servicios de Wealth Management a sus clientes de Banca Privada a través de su agente y corredor, Brickell Global Markets, Inc. (miembro de FIINRA / SIPC), servicios de asesoría de inversiones a través de Brickell Global Advisory, Inc. un asesor de inversiones registrado en Florida y soluciones de seguros a través de Brickell Global Insurance, Inc. Para obtener información adicional, visite www.brickellbankmiami.com

 

BANESCO USA TO ACQUIRE BRICKELL BANK

Acquisition Caps Banner Year for Banesco USA, with Double Digit Growth, Expansion to New Geographic Markets and Recently Named ‘Business of the Year’ by South Florida Business Journal

 

MIAMI, FL – MAY 14, 2019 – Banesco USA, recently named ‘Business of the Year’ by the South Florida Business Journal, announces today its entry into an agreement to acquire Brickell Bank from its principal shareholder, Banco Espirito Santo, S.A. – in liquidation (“BES”). The combined entity will carry the name and corporate branding of Banesco USA. The transaction is subject to regulatory approval.

The move accelerates momentum for Banesco USA, which has experienced record-breaking growth in top and bottom-line and continues its expansion to new markets (including a new business center opening soon in Aventura, Florida).

“We’re thrilled to announce this transaction and believe Brickell Bank is an exceptionally strategic fit on multiple levels,” said Jorge Salas, President & Chief Executive Officer of Banesco USA. “Geographically, this is an entrée to the Brickell corridor which remains the epicenter of finance both here and across the region. Furthermore, Brickell Bank’s business model enhances Banesco USA’s strategy by taking us to another level in the residential mortgage and trade finance segments.”

Brickell Bank, located in the heart of Brickell and chartered since 1973 provides a wide range of personal and corporate financial services to their local and international clientele.

“We are excited at the potential of becoming a part of Banesco USA and what it signifies for our clients. Banesco’s resources, scale, geographic footprint, and comprehensive suite of banking products and services will provide our clients with expanded services and reach,” says G. Frederick Reinhardt, Chairman & CEO of Brickell Bank.  “2019 is off to an outstanding start with the signing of this Merger Agreement and the lifting of the AML / BSA consent order,” continued Mr. Reinhardt.

Banesco USA is an institution with deep roots in the communities it serves, a strong balance sheet and track record of acquiring and successfully integrating financial institutions. Its mission is to provide the best and safest banking experience enhanced by the latest technology to make banking more convenient to its customers. Both Banesco USA and Brickell Bank are deeply committed to their communities, and the combined entity will continue to support a strong community reinvestment program.

Avila Rodriguez Hernandez Mena & Ferri, LLP served as legal advisor to Banesco USA and Shutts & Bowen LLP served as legal advisor to Brickell Bank.

 

About Banesco USA

Founded in 2006 and based in Coral Gables, Banesco USA is an independent Florida state-chartered bank (https://banescousa.com/OFR-Cert-of-Good-Standing.pdf) with $1.3 billion in assets as of March 31st, 2019. Banesco USA is completely independent of Banesco in other countries and its deposits are insured by the FDIC. The bank has four branches in South Florida: Coral Gables, Doral, Hialeah and Weston; and one in San Juan, Puerto Rico. It plans to open a branch in Aventura, FL in second quarter of 2019. Banesco USA has a 5-star rating from the Bauer Financial rating service and a BB- Fitch Rating. Visit www.BanescoUSA.com for information.

 

About Brickell Bank

Brickell Bank, Florida chartered since 1973, is dedicated to its core strategy of providing wealth management, personal and corporate banking services, residential and commercial real estate lending, insurance, and trade finance services to domestic and international individuals, institutions and corporations. Brickell Bank offers Wealth Management services to its Private Banking clients through its broker/dealer, Brickell Global Markets, Inc. (Member of FIINRA/SIPC), investment advisory services through Brickell Global Advisory, Inc. a Florida registered investment advisor and insurance solutions through Brickell Global Insurance, Inc. For additional information, please visit www.brickellbankmiami.com

 

Only locals would know!

It is not Venice. It is not Rome… It is the Vizcaya Museum and Gardens.

This stunning and beautiful American Villa is located in the heart of Miami, Florida.

Vizcaya was created as James Deering’s subtropical winter home in the 1910s and today it is a National Historic Landmark and accredited museum.

James Deering (1859–1925) was a retired millionaire and a bachelor in his early fifties when he undertook the challenge to build an elaborate this estate. He was afflicted with pernicious anemia, a condition for which doctors recommended sunshine and a warm climate: Vizcaya became the place where he hoped to restore his health. He loved sailing and boating—he owned three yachts—and was greatly interested in landscaping and plant conservation. Both hobbies were to play an important role in the design of Vizcaya. Deering died a bachelor in 1925, leaving Vizcaya to his half-brother, Charles.

In 1952, James Deering’s nieces, Barbara Deering Danielson and Marion Deering McCormick, conveyed Vizcaya to Dade County (now Miami-Dade. In the following year, the estate opened as the Dade County Art Museum within the County’s Park and Recreation Department. Deering’s descendants generously donated Vizcaya’s art collections and transferred the buildings and grounds to the County for $1.4 million.  Vizcaya quickly emerged in the 1950s as a major tourist attraction—a characteristic it retains today.

… Only locals would know this.

That is why you need a partner that offers local credit approvals and unique plans for your growth. At Banesco USA we are proud to be local and support this great community; home of beautiful treasures like the Vizcaya Museum and Gardens.

Banesco USA Named Business of the Year By South Florida Business Journal

Banesco USA announced today it was named Business of the Year by the South Florida Business Journal at its 22nd Annual awards event. This popular and prestigious program has recognized many of today’s top regional organizations and companies

“We are thrilled South Florida Business Journal has recognized Banesco USA with this award, signifying recognition of our innovation, financial stability and customer service,” said Banesco USA CEO, Jorge Salas.

The prestigious Business of the Year award, recognizing Banesco’s success in digital innovation methods and strong ties to the local South Florida community, was collected during the Annual reception dinner at Jungle island in Miami.

“We are extremely proud of the collective efforts of our entire team, which is undoubtedly our biggest asset”, said Salas.

In 2018, the bank demonstrated its ability to service clients and achieve commercial success by focusing on the intersection of digital innovation and human touch – one the most consequential and pressing business challenges of our day. The recent partnership with incubator Plug & Play will provide the bank with faster access to emerging technologies, while their face-to-face contact with clients will benefit from the expansion of its Branch Network to Aventura later in this quarter. Its commercial success is evidenced in 2019’s first quarter results, with double-digit growth in assets, loans and deposits.

“You will be hearing more about Banesco USA as we aim to become South Florida’s most innovative local bank.” Said Salas.

 

Banesco USA, winner of the 2019 Business of the Year Award

South Florida Business Journal

Successful businesses are driven by more than strong performance and bottom-line results. If this year’s Business of the Year honorees are any indication, “family” plays a significant role in organizational success.

It’s not surprising. Researchers note people spend as much – or more – time at work than at any other single activity, other than sleeping.

Many of the 2019 honorees spoke to the importance of having a collegial, family-like bond across the C-Suite. They work, strategize paths and celebrate wins together. Many break bread, travel or just spend time together, whether as a regular occurrence or as a bonding event across the organization.

Read more

How Miami’s smaller banks are protecting their turf

By Ken McCarthy, American Banker

As more banks sell around Miami, those that remain are focusing on tech upgrades and diversifying their loan portfolios to remain relevant.

There have been 24 whole-bank deals in Florida since early 2018, with several Miami-area banks among the sellers. They include TotalBank, FCB Financial and Gibraltar Private Bank.

Another seller was TransCapital Bank in Sunrise, Fla., which agreed in March to be sold to the $655 million-asset Power Financial Credit Union in Pembroke Pines.

Banesco USA in Coral Gables, Fla., recently received more than $11 million in capital, which it plans to reinvest in new mobile and online banking platforms. Jorge Salas, the $1.3 billion-asset bank’s president and CEO, said it embarked on a series of new fintech partnerships last year. In April it announced an alliance with Plug and Play that allows Banesco to leverage the Silicon Valley company’s platform to upgrade its consumer and commercial offerings, Salas said.

Read more

Banesco USA named Finalist for 2019 Business of the Year Award

Banesco USA has been named a finalist for the 2019 Business of the year Award by South Florida Business Journal. This prestigious award has recognized many of today’s top regional organizations, so we are proud to participate in the annual 22nd Business of the Year award program. SFBJ is one of South Florida’s most reliable and leading business news outlet in South Florida covering the latest stories on the market.

About Banesco USA

Founded in 2006 and based in Coral Gables, Banesco USA is an independent Florida state-chartered bank (https://banescousa.com/OFR-Cert-of-Good-Standing.pdf) with $1.28 billion in assets as of December 31st, 2018. Banesco USA is completely independent of Banesco in other countries and its deposits are insured by the FDIC. The bank has four branches in South Florida: Coral Gables, Doral, Hialeah and Weston; and one in San Juan, Puerto Rico. It plans to open a branch in Aventura, FL in first quarter of 2019. Banesco USA has a 5-star rating from the Bauer Financial rating service and a BB- Fitch Rating. Visit www.BanescoUSA.com for information.

 

 

Banesco USA Partners with Renowned Silicon Valley Innovation Platform, Plug and Play

MIAMI–(BUSINESS WIRE)

Banesco USA announced today an alliance with Plug and Play, one of the largest innovation platforms located in Silicon Valley, in support of its digital transformation strategy.

The deal enables Banesco USA to leverage the Plug and Play platform to explore partnerships with the aim of further innovating its consumer and commercial offerings as well as its customer experience. “This partnership allows us to establish meaningful engagements with the best technology companies connected to the Plug and Play ecosystem, providing added fuel to our innovation, growth and modernization strategies,” said Banesco USA CEO, Jorge Salas.

“Due to South Florida being the headquarters of Banesco USA and considering its proximity to Latin America, this partnership will also provide a gateway for our startups to enter the LATAM market,” said Saeed Amidi, CEO for Plug and Play. “We are excited for them to join our global fintech ecosystem and look forward to connecting them to our startups.”

Read More

Bank Branches Embrace New Strategies as Closures Abound

In Banesco USA we are not closing branches. On the contrary, we are opening Signature Branches.

In this article Jake Martin from Bank Innovation reports on how some banks, like Banesco USA; are figuring out ways to transform the branch banking experience.

Our new branch concept that we are excited to unveil to our community, will feature Interactive Teller Machines (ITM) with remote tellers, Video-conferencing rooms, a unique interior design and a team of business bankers ready to offer the personal service our customers deserve.

Read the full story 

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