Professional Holding Corp. and Marquis Bancorp, both of Coral Gables, jointly announce today the signing of a definitive agreement to merge in which Marquis Bank will combine with Professional Bank. Subject to shareholder and regulatory approvals, the combined banking institution will have approximately $1.6 billion in assets, making it the 12th largest community bank in Florida and the 4th largest in South Florida.
Both institutions maintain a 5-star, superior rating from Bauer Financial, and when combined will service 10 South Florida markets, retaining the Professional Bank name with continued headquarters in Coral Gables.
“We have held Marquis Bank in high esteem for several years now and look forward to the partnership. They have a number of talented bankers on their team along with a great staff, both of which will be a natural fit within our culture. The combined institution will advance our plans for scale and profitability along with the implementation of certain technologies across this larger platform,” said Professional Bank’s Chairman & CEO, Daniel R. Sheehan. “The combined resources will accelerate our growth in South Florida and beyond.”
Professional Bank has undergone tremendous growth in the past several years, with assets more than doubling to $890 million as of June 30 from three years earlier. The bank ended the latest quarter with Tier 1 leverage ratio of 8.71%; 5% is considered well-capitalized. It had a Tier 1 capital ratio was 11.89%; 8% is considered well-capitalized.
“We are truly excited to be partnering with Professional and believe now is the time to combine our franchises to create the premier community bank in South Florida. This is a tremendous opportunity for two high-performing banks with similar cultures to join together in this transformational merger,” said Javier J. Holtz, Marquis Bank’s Chairman and CEO. “This is a win-win for our clients, associates, and shareholders.”
Marquis Bank was established in 2007 and operates branches in Coral Gables, Aventura and Fort Lauderdale. It held $680.3 million in assets and $559.7 million in deposits as of June 30. It concluded the quarter with a healthy Tier 1 leverage ratio of 9.64% and a Tier 1 capital ratio of 10.75%.
Wachtell, Lipton, Rosen & Katz served as legal advisor to Professional Bank, while Smith MacKinnon, PA served as legal advisor for Marquis Bank. Stephens Inc. served as financial advisor to Professional Bank, while Hovde Group served as financial advisor for Marquis Bank. The merger is subject to shareholder and regulatory approvals and expected to close in late 2019 or early 2020.
For more information on the merger, please visit joinprobank.com .
About Professional Bank:
Headquartered in Coral Gables, Fla., Professional Bank is one of South Florida’s fastest-growing community banks. A subsidiary of financial holding company Professional Holding Corp. (OTC: PFHD), Professional Bank specializes in construction, residential and commercial real estate financing as well as business loans and lines of credit, including SBA financing. Known for high-touch customized concierge services, the bank serves the needs of its customers through a full offering of deposit products, cash management services, online and mobile banking.
Founded in 2008, Professional Bank operates full-service branches and loan production offices in Miami-Dade, Broward and Palm Beach counties. For more information, visit myprobank.com.
[Disclaimer] Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Neither Professional Holding Corp. nor Professional Bank undertakes any obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.
About Marquis Bank:
Marquis Bank, with more than $680 million in assets, is a full-service community bank dedicated to serving business owners, professionals and investors. Marquis has successfully blended convenient state-of-the-art technology with personal attention to create an exceptional banking experience for its clients. For more information, please call (305) 443-2922 or visit www.MarquisBank.com .
Janet Henfield-Green, Senior Vice President and Market Manager of Commercial Lending at Marquis Bank’s Aventura branch, was elected Treasurer of the North Miami Beach Chamber of Commerce.
“Janet’s executive role at the North Miami Beach Chamber is an example of how Marquis Bank devotes time and resources to strengthen community connections and support economic development in South Florida,” said Miriam Lopez, President and Chief Lending Officer at Marquis Bank, a privately-owned institution based in Coral Gables, Fla.
At Marquis Bank, Mrs. Henfield-Green is responsible for developing the bank’s presence in the Aventura, Golden Beach and Sunny Isles Beach markets, where for more than five years she has established deep and long-term banking relationships. Marquis Bank serves professionals, business owners and investors seeking a personal banking experience. Her community involvement also includes serving as Chairman of the Aventura Marketing Council/Chamber of Commerce’s Law Committee and volunteer activities for Kiwanis of Northeast Miami-Dade.
Previously, Mrs. Henfield-Green worked more than 20 years in banking and finance in the areas of International Private Banking and Compliance in Nassau, Bahamas, New York and Miami. She served as Vice President and Relationship Manager of Commercial Lending at Bank Leumi USA in Aventura, and held various positions at Banco Atlantico and Espirito Santo Bank. She holds a bachelor’s degree in Finance with a minor in International Business and a Professional Master of Business Administration in International Business from Florida International University.
Marquis Bank has achieved another Superior 5-Star Rating from BauerFinancial, the Nation’s Premier Bank Rating Firm. In the 30-plus years that Bauer has been analyzing banks, there has been a rise of increasingly complicated investments as well as burgeoning regulation. Each has added another hurdle when it comes to earning a 5-Star Rating from Bauer, yet none have been a problem for Marquis Bank. Not only has the bank maintained safe capital levels, well in excess of what regulators require, Marquis Bank has been helping its neighbors and local businesses grow their community with prudent lending and innovative solutions – all without compromising its own financial health in the process.
“This is the beauty of community banking,” notes Karen Dorway, president of BauerFinancial. “The success of a community bank directly correlates to the success of the community it serves. Community banks don’t need exotic investment instruments to make money for their shareholders. They much prefer to invest in local businesses and reap the benefits along with their neighbors.
This approach has served Marquis Bank very well as Marquis Bank has earned and maintained Bauer’s top 5-Star rating for 25 consecutive quarters.
Now, after 12 years, Marquis Bank operates through three conveniently located offices in Aventura, Coral Gables and Fort Lauderdale and can also be found online at www.marquisbank.com.
Marquis Bank, a private community bank in South Florida with more than $670 million in assets, is pleased to announce the recent hire of banking veteran JanCarlos Llach as Senior Vice President of the Commercial Lending Division.
“We are pleased to welcome JanCarlos Llach to the commercial lending division. He brings more than 16 years of solid experience, all in commercial lending roles, and we are excited to have him on the team,” said Miriam Lopez, President and Chief Lending Officer at Marquis Bank.
Llach, who is from Miami, comes to Marquis Bank from International Finance Bank, where he was head of the commercial lending department. He began his career as a credit analyst at Ocean Bank and later worked at Premier American Bank and the Bank of Coral Gables in commercial lending roles.
He is a graduate of the University of Miami, where he earned his Bachelor of Arts degree in business administration. Llach serves on the board of directors for the South Florida Aviation Maintenance Council.