BAC Florida Bank, a Florida banking corporation supervised by the State of Florida and the Federal Deposit Insurance Corporation (FDIC) is headquartered in Coral Gables, Florida. As of December 31, 2012, BAC Florida Bank and subsidiaries had over 5,500 customers, 150 employees, $1,311 million in assets and $939 million in deposits. BAC Florida Bank is part of The Pellas Group.
Who we serve
Although the majority of our customers live abroad, mainly in Latin America, we also offer products and services to customers based in South Florida. We provide a wide array of banking and financial products and services to a variety of individual, corporate, and institutional customers in the areas of:
Our variety of products and services, together with over 27 years of banking expertise in the U.S. allow us to provide banking solutions for customers be them individuals, companies or financial institutions seeking banking products and services, investments, online services, cash management and credit facilities.
We are a bank with a boutique strategy. Our size allows us to provide a close and customized services, and our business model is based on forging strong and personal relationships with our customers.
At BAC Florida Bank we have two subsidiaries that provide investment products and wealth management services:
BAC Florida Investments (BFI) * - Registered Broker/Dealer
BAC Florida Investments (BFI) was organized in 1986 as a broker/dealer initially serving clients of other financial institutions in Grupo Pellas. Over time, BFI expanded its customer base to include individuals and institutions from all over Latin America and the United States.
BFI performs its securities custody, clearing, and settlement through Pershing LLC., a subsidiary of The Bank of New York Mellon Corporation. BFI is a member of FINRA (Financial Industry Regulatory Authority and formerly known as NASD). BFI is also regulated and supervised by the Securities and Exchange Commission (SEC).
For further details please visit their website www.bacinvestments.com.
BAC Global Advisors (BGA)* - Registered Investment Adviser
BAC Global Advisors (BGA) was organized in 2002 to provide fee based investment advisory and portfolio asset allocation services to institutions and very high net worth individuals.
BGA is registered with the SEC.
Other Products and Services
BAC Florida Bank is a state chartered bank, regulated and insured by the FDIC. If you have any questions about the deposit insurance coverage and the level of protection that the insurance affords, or if you have service problems or complaints, you can contact FDIC directly at their website: www.fdic.gov.
* Investment products offered by BAC Florida Investments, a subsidiary of BAC Florida Bank, are not FDIC insured; these products are not a deposit or other obligation of or guaranteed by BAC Florida Bank or any federal government agency. These products are subject to investment risk and may lose value. BAC Florida Investments is a registered broker-dealer, and member of FINRA and SIPC.