BAC Florida Bank

Financial Reports

Financial Reports

ANNUAL REPORT 2016

Message from the President and CEO

In December 2016 I joined BAC Florida Bank. Key factors which attracted me to join this great banking organization were the exemplary reputation of the Pellas Family, the strong fundamentals and culture of BAC Florida Bank, the talent and commitment of my colleagues and the significant opportunities ahead of us. Let me start by thanking Frank Robleto for his extraordinary leadership and the successful journey on which he has steered BAC Florida Bank during these last 12 years. I am confident we will build on Frank’s successful legacy, leveraging on our teamwork, our values and our team’s expertise.

During the past few weeks, my focus has been on executing a smooth transition in my role as President and CEO. My priorities have centered around engaging our clients, regulators, directors and colleagues across the bank. I have been very impressed and encouraged with the strong fundamentals of our franchise and the talent of our team. We have valuable client relationships which have been built across several generations. Our culture is client-focused, based on values, with excellence in the areas of risk management and compliance. My focus as President and CEO will be around adding value to our clients, maintaining the highest standards of regulatory compliance and risk management, ensuring we live the BAC Florida values in everything we do. Our values of Balance, Trustworthiness, Teamwork, Respect, Commitment, Accountability and Winning Attitude are instrumental in sustaining our performance.

During 2016, we delivered a solid financial performance and we are uniquely positioned in our markets to continue sustainable growth, creating shareholder value. We are well capitalized, with ample liquidity, delivering good returns for our shareholders. Our quality of assets and balance sheet strength will support our future growth. I want to thank Frank and my colleagues for delivering this strong performance. Our Board approved our refreshed strategy plan. Our aim is not to change our current strategy, but rather to sharpen our execution to deliver on our aspiration of being the preferred trusted advisor to our clients for personalized financial services. Our strategy is centered around 4 pillars, we will align our organizational structure around 5 business areas, those business areas will be complemented by our 6 support functions.

We have significant opportunities with our clients in the business areas of Residential and Commercial Real Estate, Corporate and Institutional Banking, Private Banking, Wealth Management and Investment Services and in our Domestic Personal Digital Banking. I am confident in our continued success with the support and direction of our Board of Directors, the commitment of the great talent we have at BAC Florida Bank and the trust of our clients.

After 15 years living in New York, I am delighted to be back in Miami, which feels like home for us. My wife, son and daughter were all born in Miami, and our family has deep roots in this city we love. Our colleagues and shareholders of BAC Florida are proud of our commitment to our community and we will continue to invest and dedicate our time volunteering, and our resources, to help those in need. I am very excited to have joined the BAC Florida family during this 45th year milestone and look forward to working closely with our Board of Directors, the Executive Management team and with all our colleagues.

I want to thank all our clients, our colleagues and our shareholders for their continued support and trust in BAC Florida Bank.

Julio Rojas

President and CEO


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