Great Florida Bank, based in Miami Lakes and founded in 2004, is being sold to the Florida Community Bank. With assets of over $1bn and 25 locations scattered through Broward, Miami-Dade, and Palm Beach Counties, Great Florida will make Florida Community the fourth-largest independent bank in the state.
The president and CEO of Great Florida, M. Mehdi Ghomeshi, said in a statement:
"This merger is a win for our stockholders, customers and banking franchise.”
The buyer, Florida Community, is a Weston-based bank founded during the recession with a business model of acquiring other community banks. It has already purchased eight banks, but this represents its first negotiated purchase. Florida Community Bank was founded in 2009 and became a subsidiary of the Miami-based private equity firm Bond Street Holdings,a year later.
With Great Florida's branches being converted to Florida Community branches, there will no doubt be plenty of opportunities for Print companies to pick up some extra business. In addition to new Stationery at each bank, there will probably be signage and Brochures required to explain the changes to customers. Moreover, according to Kent Ellert, CEO and President of Florida Community, a “large majority” of Great Florida's 174 employees, many members of management, and Ghomeshi will keep their jobs, which suggests a likely need for future business card printing orders.Get a Free Quote for Brochures Get a Free Quote for Stationery Get a Free Quote for Print