Coral Gables, Fla. – May 15, 2019
First American Bank – a privately held, full-service bank with more than $5 billion in assets – today announced that subject to regulatory approvals, it has agreed to acquire Continental National Bank, Miami's first Cuban-American owned national bank with $490 million in assets. Through this strategic partnership, First American Bank will further enhance the product offerings and personalized service Continental National Bank has offered to customers throughout greater Miami-Dade.
“We are proud to announce our new partnership with Continental National Bank as we work to expand our footprint in the South Florida market,” said Thomas Wells, CEO of First American Bank. “As a bank that has been in business for more than 40 years, this acquisition will allow us to bring more sophisticated lending products to the vibrant Hispanic exile business community that Continental National Bank has served since 1974, and we look forward to adding new tools, services, and much larger lending limits to better meet the needs of this thriving client base.”
First American Bank, an Illinois-chartered bank with 53 locations in Illinois, Wisconsin, and Florida, specializes in a broad array of business lending including SBA export finance programs, wealth management, pension and 401(k) planning, and a variety of personal banking services. Since entering the South Florida market in 2014 with the acquisition of The Bank of Coral Gables, the company has continued to flourish under the leadership of Florida Market President Brian Hagan – serving privately held small and middle market businesses while staying true to its family-owned Midwest roots.
Jacqueline Dascal-Chariff, Chairman of Continental National Bank, stated, “There are many synergies between our two organizations, including our shared culture of client-focused relationship banking. This transaction will allow us to maintain our business culture, while still emphasizing our ability to seek practical solutions for our community and our customer’s needs. This has been at the core of what the Continental Bank legacy has been for over 40 years.”
Founded by Carlos Dascal in 1974, Continental National Bank is an award-winning and trusted financial institution that has serviced the local community for more than four decades with an array of financial and lending products and services. Since starting with its first location in Miami's historic Little Havana neighborhood, the bank has grown to five branches located in the Doral, Hialeah, Sweetwater, and Downtown Miami areas.
Guillermo Diaz-Rousselot, President of Continental National Bank, said, “This merger will provide our customers, employees, and community the benefits of scale allowing us to expand our products and services that a large multimarket community bank, like First American, can provide. We look forward to building on the solid foundations both banks have achieved. Together, we can continue to better serve the growing demands of our client base, its individuals and businesses.”
For more than 40 years, First American Bank has been focusing on building long-term relationships with customers through high-quality solutions and exceptional customer service. With services ranging from personal products to commercial banking and wealth management, and assets of more than $5 billion, First American Bank is the largest privately-held bank in Illinois with 53 locations in Illinois, Wisconsin and South Florida. First American Bank’s size and management philosophy allow the bank to offer clients top-tier financial services tailor-made to support each customer’s goals and potential for growth. First American Bank is a Member FDIC bank.
Continental National Bank is a full-service community bank established in 1974 in Miami as the first Cuban-American-chartered national bank in the United States, serving its customers for more than 45 years. With five branches conveniently located throughout Miami-Dade County, and with more than $490 million in assets, Continental National Bank has been recognized as a top community bank. The Bank offers a full range of financial and lending products and services for retail, business, and institutional clients.
Sandler O’Neill & Partners, L.P. served as financial advisor to Continental National Bank and Avila Rodriguez Hernandez Mena & Ferri, LLP (ARHMF) served as legal advisor to Continental National Bank. Barack Ferrazzano Kirschbaum & Nagleberg LLP acted as legal advisor to First American Bank.
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