Florida Bank

The Florida Bank

The First Florida Bank is a bank with old-fashioned values and the ability to offer solutions to today's challenges. The sheer range of possibilities in Florida exacerbates the challenge within the state. At BancServ, Inc., we work to find and support the highest quality products, services and solutions that the banking industry has to offer. The Health Benefits Pool Bank is on the advance.

Personally, I love the relationship I have with the bank.

History[edit]

M. Ghomeshi, who began his banker' s carreer at Barnett Bank until its divestment to NationsBank in 1998, established Great Florida Bank in 2004. Ghomeshi became Chairman and CEO of BankUnited, FSB, in December 1998 and held this position until April 15, 2001, when he became Executive Vice Chairman.

This bank has 28 solution centers in the Miami-Dade, Broward and Palm Beach districts. The Great Florida Bank is participating in FDIC's Temporary Liquidity Guarantee Program, which provides indefinite cover for all non-interest earning transactions accounts of Federal Deposit Insurance Corporation (FDIC) until December 31, 2009. Great Florida Bank opened in Miami City in 2004 and expanded outside Greater Miami in 2005 and 2006 when it opened several offices in South Florida.

In 2006, however, the Bank was notified of an injunction by the FDIC alleging insecure and unreliable bank practice and breaches of the Bank Secrecy Act;[4] Notwithstanding the injunction, the Bank was successfully quoted on the NASDAQ Global Market on 5 December 2007. In 2008, the Bank opened seven new branches in South Florida, bringing the number of centres in this area to 28.

The Great Florida Bank was included in the American Bankers Association Community Bank Index in June 2008. The Great Florida Bank exceeded $1 billion in operating wealth after only eighteen month, making it one of the nation's most rapidly expanding de novo financial organizations. At March 31, 2009, the Bank had 28 branches in Miami-Dade, Broward and Palm Beach counties with a balance sheet of $1.7 billion, core capital of $131 million and a core capital ratios of 7.4%-48% above the supervisory definitions of a well capitalized bank.

"The Great Florida Bank reduces losses." The South Florida Business Journal. Florida Community Bank is competing with the Great Florida Bank purchase. Brian Bandell (10 March 2009). "The regulatory authorities are overturning the Great Florida Bank order." The South Florida Business Journal. Great Florida Bank on NASDAQ. The South Florida Business Journal. Florida Community Bank, N.A. obtains regulatory approval to purchase Great Florida Bank.

Florida Community Bank, NA completes acquisition of Great Florida Bank and announces net income of $6.9 million for fourth quarter.

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