Miami, FL (Monday, February 27, 2023) — Banesco USA, an independent Florida state-chartered bank headquartered in East Doral, announces the expansion to the Palm Beach market as an integral step in the execution of its corporate growth strategies. The Palm Beach target market includes commercial real estate and middle-market business clients, as well as business executives and professionals. Longer term plans include delivering a premier banking experience with a full-service branch.
Five seasoned and experienced bankers, bringing more than 25 years of banking experience serving Palm Beach, most recent with Professional Bank, include:
“Palm Beach is a growing expanding community; a great fit of Banesco USA’s strategic target markets. It’s an incredible opportunity to provide our comprehensive portfolio of banking and lending solutions as well as our relationship-driven value proposition to capitalize on present day market needs,” said Calixto (Cali) García-Velez, President & CEO of Banesco USA. “We are confident this team with extensive roots in Palm Beach will accelerate our growth in the region.”
Last month, Banesco USA announced a 40 percent increase in assets during 2022 to reach to $3 billion. As of December 31, 2022, total loans represented 78 percent of total assets and loan growth was $725 million or 45 percent during the twelve-month period. Banesco USA’s balance sheet growth contributed to an increase in financial margin and net income of $23 million, the highest in the bank’s 16-year history.
For more information, visit BanescoUSA.com or contact us at (786) 552-0524.
# # #
About Banesco USA
Founded in 2006 and based in Miami, Banesco USA is an independent Florida state-chartered bank with $3 billion in assets as of December 31, 2022 and six locations between South Florida and Puerto Rico. Banesco USA is proud to serve the commercial real estate sector, small and middle-market businesses, as well as professionals who work in the community. The bank services both domestic and international clients as well as operating companies with a suite of products and services delivered with personalized attention to support their financial journeys.