Banesco USA Expands in Palm Beach

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:

  • Rolando Valdivieso leads the new group as Senior Vice President, reporting to Nelson Hildalgo, Executive Vice President and Head of Corporate Banking. Valdivieso has been in the local banking industry for more than 13 years serving in Vice President roles providing financial solutions to South Florida businesses and high-net-worth individuals.
  • Keith Douglass joins as Vice President and Relationship Manager. Douglass brings years of experience in Private Banking and Commercial Lending.
  • Travis Fitzpatrick joins as Vice President and Relationship Manager. Fitzpatrick also brings years of experience, servicing commercial relationships.

“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.

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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.

Media Contacts:
Jessica Wade Pfeffer | 305-804-8424 | jessica@jwipr.com
Tyler Sminkey | 786-390-8510 | tyler@jwipr.com

The information provided by Banesco USA ("we," "us," or "our'') is for general informational purposes only and is not intended as legal, tax, investment, financial or other advice or a substitute for professional advice. The information is general in nature and does not address the circumstances of any particular individual or entity, and is not comprehensive or a complete statement of the matters discussed herein. All information contained herein is provided in good faith, however, we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information provided herein. The information provided may contain information from third parties or other sources. We do not warrant, endorse, guarantee, or assume responsibility for the accuracy or reliability of any information offered by third parties. Under no circumstances shall we have any liability to you for any loss or damages of any kind incurred as a result of the use of or reliance on any information provided herein. Your use and reliance on any information provided herein is solely at your own risk.
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