Welcome!

News Feed Item

First American Bank and Bank of Coral Gables Announce Merger

ELK GROVE VILLAGE, IL and CORAL GABLES, FL -- (Marketwired) -- 05/05/14 -- First American Bank, headquartered in Elk Grove Village, IL with 49 branches throughout the Chicago metropolitan area and assets of $3.4 billion, has announced a merger with the Bank of Coral Gables, a community-based bank located in Coral Gables, FL.

Said Thomas E. Wells IV, Chairman of the Board of First American Bank, "We are proud to add the Bank of Coral Gables to our banking family. Their founders and capable staff bring a wealth of local knowledge and insight to our expanding Florida market. With this merger, we will underpin our current commercial banking and trade finance presence in South Florida with a full service location. First American Bank has been an active SBA and Ex-Im Bank lender in the Miami-Dade County market for the past decade."

William H. Kerdyk, Jr., Chairman of the Bank of Coral Gables, along with founding bank director Michael Kashtan, will join the Board of Directors of First American Bank, and will serve on its local Miami Advisory Board. Dan Eggland, President and CEO of the Bank of Coral Gables, will continue in a leadership position developing and serving major relationships.

"In First American Bank, we are pleased to have found a partner with similar philosophies, many future synergies and growth opportunities as well as an outstanding reputation for customer service and extensive banking knowledge," Kerdyk said.

With its longstanding reputation of delivering the expertise and sophisticated resources of larger banks, First American will provide the Miami-Dade community with a full offering of high-quality service and products.

Said Dan Eggland, "Our customer base can expect their working relationship with local employees to remain unchanged, as they will continue to provide the highest level of professional service to which they have become accustomed. The merger will be very beneficial for current and new customers who will have access to an additional array of financial services and products including wealth management, foreign receivable financing and SBA loans."

The transaction is subject to the approval of the Bank of Coral Gables' stockholders, the receipt of regulatory approvals and other conditions. Closing is anticipated in the third quarter of 2014.

First American Bank is a privately held bank with 49 branches throughout the Chicago metropolitan market. First American Bank also offers extensive wealth management services with $1.8 billion under management. The bank places a high priority on building long-term relationships with consumer and middle market commercial clients by offering superior deposit, lending, trade finance and investment solutions. For more information, visit www.firstambank.com.

Established in 2006, Bank of Coral Gables is a full service locally-owned community bank offering a variety of personal and business banking services. Located at 2295 Galiano Street in Coral Gables, the bank provides a full range of financial services for professionals and businesses in the Miami-Dade County market. At March 31, 2014 the Bank had total assets of $103 million. For more information, visit www.bankofcoralgables.com.

Barack Ferrazzano Kirschbaum & Nagelberg LLP served as legal counsel to First American and Smith Mackinnon, P.A. served as legal counsel to Bank of Coral Gables. In connection with the transaction, Monroe Financial Partners, Inc. acted as financial advisor to Bank of Coral Gables.

Media Contacts:

Christine Childers
First American Bank
847-586-2283
Email Contact

Tania Longest
Wragg & Casas PR
305-372-1234
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Everywhere we turn in our industry we can find strong opinions about the direction, type and nature of cloud’s impact on computing and business. Another word that is used in every context in our industry is “hybrid.” In his session at 20th Cloud Expo, Alvaro Gonzalez, Director of Technical, Partner and Field Marketing at Peak 10, will use a combination of a few conceptual props and some research recently commissioned by Peak 10 to offer a real-world consideration of how the various categories of...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to ov...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
In order to meet the rapidly changing demands of today’s customers, companies are continually forced to redefine their business strategies in order to meet these needs, stay relevant and continue to see profitable growth. IoT deployment and development is integral in this transformation, and today businesses are increasingly seeing the value of investing their resources into IoT deployments. These technologies are able increase ROI through projects such as connecting supply chains or enabling sm...
This talk centers around how to automate best practices in a multi-/hybrid-cloud world based on our work with customers like GE, Discovery Communications and Fannie Mae. Today’s enterprises are reaping the benefits of cloud computing, but also discovering many risks and challenges. In the age of DevOps and the decentralization of IT, it’s easy to over-provision resources, forget that instances are running, or unintentionally expose vulnerabilities.
In his session at 20th Cloud Expo, Brad Winett, Senior Technologist for DDN Storage, will present several current, end-user environments that are using object storage at scale for cloud deployments including private cloud and cloud providers. Details on the top considerations of features and functions for selecting object storage will be included. Brad will also touch on recent developments in tiering technologies that deliver single solution and an end-user view of data across files and objects...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Regardless of what business you’re in, it’s increasingly a software-driven business. Consumers’ rising expectations for connected digital and physical experiences are driving what some are calling the "Customer Experience Challenge.” In his session at @DevOpsSummit at 20th Cloud Expo, Marco Morales, Director of Global Solutions at CollabNet, will discuss how organizations are increasingly adopting a discipline of Value Stream Mapping to ensure that the software they are producing is poised to ...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
IBM helps FinTechs and financial services companies build and monetize cognitive-enabled financial services apps quickly and at scale. Hosted on IBM Bluemix, IBM’s platform builds in customer insights, regulatory compliance analytics and security to help reduce development time and testing. In his session at 20th Cloud Expo, Tom Eck, Industry Platforms CTO at IBM Cloud, will discuss how these tools simplify the time-consuming tasks of selection, mapping and data integration, allowing developer...
For financial firms, the cloud is going to increasingly become a crucial part of dealing with customers over the next five years and beyond, particularly with the growing use and acceptance of virtual currencies. There are new data storage paradigms on the horizon that will deliver secure solutions for storing and moving sensitive financial data around the world without touching terrestrial networks. In his session at 20th Cloud Expo, Cliff Beek, President of Cloud Constellation Corporation, ...
Interested in leveling up on your Cloud Foundry skills? Join IBM for Cloud Foundry Days on June 7 at Cloud Expo New York at the Javits Center in New York City. Cloud Foundry Days is a free half day educational conference and networking event. Come find out why Cloud Foundry is the industry's fastest-growing and most adopted cloud application platform.
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.