Banesco USA Expands in Palm Beach

PRNewswireFebruary 28, 20235 min

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) Garc√≠a-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.

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