U.S. Century Bank, headquartered in Miami Lakes, announced it has closed on a $65 million recapitalization transaction with investments by Patriot Financial Partners, Priam Capital, current shareholders of U.S. Century Bank and other qualified investors.
As a result of the transaction, the bank is in compliance with the capital requirements of a regulatory consent order. “We firmly believe that this is the best outcome for our shareholders, employees, customers and the community,” said Carlos J. Davila, president and CEO.
“This capital raise will allow us to grow the institution, with the ultimate goal of becoming the strongest independent community bank in our market,” he said.
In a related announcement, the South Florida Hispanic Chamber of Commerce recognized Davila with a 2015 Hispanic Leadership Award for the banking category during the Chamber’s annual awards luncheon on March 20.
“As a respected banker for many years, Carlos Davila has accomplished to guide U.S. Century Bank through many challenges during recent years and today, it is one of the most respected, true Hispanic community banks in South Florida,” said Chamber president Liliam Lopez.
“He is also credited recently with finalizing the bank’s capital raise which now enables the bank to function as a well-capitalized bank and ultimately, grow in our market and support our local business community,” she said.