U.S. Century Bank in Miami has been freed from a regulatory
The Federal Deposit Insurance Corp. notified U.S. Century's executives earlier this month that it had lifted the order, the $1 billion-asset bank said in a news release Saturday. In June 2011 federal and state regulators ordered the then-struggling bank to bolster capital, overhaul management and get regulatory approval for strategic moves such as the hiring of senior officers or taking steps to significantly increase assets.
Early last year the bank raised $65 million from a private-equity firm as part of its efforts to pay back money it received from the
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TotalBank in Miami has returned Jorge Rossell to the position of chief executive, after Luis de la Aguilera departed to take the same position at U.S. Century Bank in Doral, Fla.
December 16 -
U.S. Century Bank in Doral, Fla., has announced that its chief executive, Carlos Davila, will resign at the end of the year.
December 2 -
U.S. Century Bank inDoral, Fla., has received regulatory approval for its plan to raise $65 million in capital, according to a news report.
February 24 -
A plan to inject $50 million into U.S. Century Bank has reportedly been called off, leaving the undercapitalized Doral, Fla., bank in limbo.
January 7
Its Tier 1 risk-based capital rose to 10.83% at the end of 2015 from 5.57% a year earlier, and its total risk-based capital rose to 11.87% from 6.60% during that same time period, according to the FDIC website. The consent order had required Tier 1 capital of at least 8% and total risk-based capital of at least 12%.
"Having the regulatory consent order lifted is a very positive and significant step for U.S. Century Bank," Luis de la Aguilera,
Established in 2012, U.S. Century Bank is promoted as one of the nation's largest Hispanic-owned banks.