December 19, 2016
South Florida Business Journal
The third quarter was a strong one for South Florida banks, with a higher number receiving star ratings of “recommended” than in at least the past two years. And for the second quarter in a row, there were a higher proportion of four- and five-star banks in the tri-county area than across the Sunshine State.
Most South Florida-based banks remained strong in the third quarter, with the number of banks awarded “recommended” ratings of four or five stars increasing by two compared to the previous quarter, according... More >
September 20, 2016
The second quarter was a strong one for South Florida banks, with a high number receiving star upgrades. And for the first time in quite a while, there was a higher proportion of strongly rated banks in the tri-county area than across the state.
Most South Florida-based banks remained strong through the second quarter of 2016, with the number of banks awarded “recommended” ratings of four or five stars increasing by three compared to the previous quarter, according to Coral Gables-based Bauer Financial.
The financial research and analytics firm awarded recommended ratings... More >
June 18, 2016
Ken Thomas, a longtime economist and banking consultant, thinks it's inexcusable that many South Floridians making $40,000 or $50,000 a year can't afford to buy a home.
He recently launched the Community Development Fund, an investment vehicle exclusively for banks and thrifts designed to promote affordable or work force housing across Palm Beach, Broward and Miami-Dade counties.
The fund started with $25 million from 10 banks, including six in South Florida.
The money is used to invest in securities backed by mortgages valued in the $100,000 to $200,000 range,... More >
June 14, 2016
There’s a new fund in town, and it’s made up of banks that are interested in community development and affordable housing.
Miami-based Community Development Fund Advisors LLC on Monday announced the launch of the $25 million Community Development Fund. It will focus on investing in fixed-income and mortgage-backed securities tied to properties in low- to moderate-income neighborhoods and affordable housing.
There are 11 initial banks invested in the fund, including six based in Miami-Dade County: Miami-based City National Bank of Florida, Coconut Grove Bank,... More >
September 17, 2015
Formal training programs for bank executives – some lasting as long as 24 months – are a thing of the past in South Florida, observers say. Some question whether they were all that relevant to begin with.
“Formal training has changed,” said Raul G. Valdes-Fauli, president and CEO of Professional Bank and chair of the Miami Finance Forum.
It was a trend in the ’80s and ’90s, but because the market is now dominated by smaller banks, grooming rising talent has become a more informal process, he said.
“The less-sizeable banks in South Florida have fewer resources to... More >
January 5, 2015
By Lidia Dinkova
The Federal Reserve has kept interest rates low for a while, but that’s expected to change in 2015.
While local economists say the Fed has indicated it would embark on a gradual and moderate increase in short-term interest rates during 2015, there’s a risk that a market-driven increase in interest rates would hinder the Fed’s plan.
The Fed Funds Rate is to increase slightly in mid-2015 and it’s to continue increasing moderately, reaching about 1% by the end of the year,... More >
January 1, 2015
When David Lombardi visited Wynwood with a friend in 2001, he was taken with the proximity to downtown, Miami Beach and the Design District. Even more compelling was that he was able to buy warehouses for much less than it would have cost to build them.
He also realized many artists were working in Wynwood and thought how much better it would be for those commuting to combine home and work space. To that end, Mr. Lombardi built Wynwood Lofts in 2003 and has been developing in the neighborhood ever since.... More >