Bank of Florida
| Company type | Public company |
|---|---|
| Industry | Banking |
| Founded | August 24, 1999 |
| Fate | Bank failure; assets acquired by EverBank |
| Headquarters | Naples, Florida , United States |
Area served | Florida |
Key people | Francis Rooney (largest individual shareholder, 3.38%) |
Bank of Florida Corporation functioned as a bank holding company with its headquarters located in Naples, Florida. It managed three separate banking entities: Bank of Florida – Southwest, Bank of Florida – Southeast, and Bank of Florida – Tampa Bay.
On May 28, 2010, the Florida Office of Financial Regulation intervened due to bank failure, closing these banks and placing them into receivership under the supervision of the Federal Deposit Insurance Corporation, which acted as receiver. Subsequently, EverBank acquired the assets of these institutions.
At the time of their collapse, Francis Rooney, a former U.S. ambassador to the Vatican, was the largest individual shareholder, owning 3.38% of the company.
History
Operations for Bank of Florida – Southwest commenced on August 24, 1999, in Naples.[1]
Bank of Florida – Southeast began serving customers on July 16, 2002, in Fort Lauderdale.[1]
The Bank of Florida – Tampa Bay branch was established on November 5, 2004, in Tampa.[1]
In early 2010, regulatory authorities issued warnings to the bank regarding the necessity to increase its capital levels or face potential closure.[2]
Ultimately, on May 28, 2010, due to the failure of the bank, the Florida Office of Financial Regulation ordered its closure; the FDIC was designated as receiver and transferred the banks' assets to EverBank.[3]
- ↑ 1.0 1.1 1.2 Cite error: Invalid
<ref>tag; no text was provided for refs named10K - ↑ Bandell, Brian (May 3, 2010). "Bank of Florida in critical state". American City Business Journals.
- ↑ Bandell, Brian (May 28, 2010). "EverBank snags failed Bank of Florida". American City Business Journals.