BankMiami Launches as Miami-Dade’s First New Bank in 16 Years

Categories: Florida Business NewsFlorida News

News Summary

After 16 long years, BankMiami has officially opened its doors, marking a significant development in the Miami-Dade banking landscape. Located temporarily at 5966 S. Dixie Highway, the bank promises a variety of retail and commercial services. Founded and led by a team of skilled women, BankMiami has already surpassed its capital goals, aiming to cater to the financial needs of both individuals and businesses in the community. This opening not only offers new banking opportunities but also signifies a fresh start amidst ongoing challenges in the financial sector.

BankMiami Makes a Splash as Miami-Dade’s First New Bank in 16 Years

Exciting news for the fabulous city of Miami! After a long wait of over 16 years, the brand-new BankMiami has opened its doors to the public! This fresh financial institution is set to breathe new life into the banking scene in Miami-Dade County. Their temporary office is now in operation at 5966 S. Dixie Highway, Suite 300, right in the heart of South Miami.

Sneak Peek into BankMiami’s Future

While the temporary location is buzzing with activity, a permanent location is in the works and will be situated at 1515 Sunset Drive in Coral Gables. This new establishment is a significant milestone for the community, especially since it’s the first bank to pop up in the area in quite some time.

Women at the Helm

What makes this bank even more special? It was founded by women! With a remarkable achievement, BankMiami raised $38 million in capital, surpassing the minimum requirement of $32.5 million set by regulators. This impressive feat demonstrates the determination and skill set of its founders.

Leadership Team Shaping the Future of Banking

Leading BankMiami is Mary Usategui, who will serve as the President and CEO, also sitting on the bank’s board of directors. She brings extensive experience from her previous roles at Coconut Grove Bank, Professional Bank, and Seacoast Bank, infusing the new bank with knowledge and innovation.

Joining Usategui on the board of directors are 10 members, plus a dedicated C-suite team including Daniel Martinez as the Chief Banking Officer, David Monter as the Chief Operating and Financial Officer, and Robert Regolizio as the Chief Credit Officer. Together, they will guide BankMiami in offering a range of valuable services to the community.

What Can You Expect from BankMiami?

So, what can Miami residents look forward to? BankMiami will provide a variety of retail and commercial banking services, including checking and savings accounts, residential and consumer loans, business lines of credit, and commercial financing. With such offerings, they aim to cater to the financial needs of both individuals and businesses alike.

Approved and Ready to Serve

BankMiami received its long-awaited approvals from the Federal Deposit Insurance Corp. (FDIC) back in October and from the Florida Office of Financial Regulation in July, marking a significant step in its journey toward opening.

Additionally, while BankMiami is paving its way, other developments in the banking sector include new appointments and measures taken at local banks. For instance, the wealth management firm Provenance Wealth Advisors appointed Peter Mottek as their new president and CEO. Mottek brings over 35 years of experience from banks like TD Bank and Barclays Bank, ensuring that proven leadership is in place.

Changes Around Town

In the wider Miami-Dade area, different banks are also making headlines. First American Bank has relocated its Hialeah branch to a fresh new spot at 1437 W 49th Street after serving the community at its previous location for over 40 years! The new branch is designed to better serve customers and provide an enhanced experience. Hialeah Market Manager Ismael Manuel Gil pointed out that the branch’s new positioning will greatly enhance customer access to services.

Watch Out! Bank Robberies Under Investigation

However, it’s not all sunshine and rainbows in the financial world. The FBI is actively searching for a suspect involved in a recent bank robbery at Chase Bank in West Miami-Dade. The incident involved a note demanding money, but thankfully, no injuries were reported. The FBI is also looking into another robbery at a Truist Bank branch in West Kendall.

As BankMiami opens its doors and brings newfound banking opportunities to the community, residents can look forward to engaging with a friendly, innovative institution in a landscape that is otherwise experiencing some turbulent times. Here’s to fresh starts in Miami banking!