May 30, 2015

Florida Banks

Snapshots from the Vault

The new shape of the Florida banking industry is emerging. All sectors aren't being created equal.

Mike Vogel | 10/10/2011

CONSOLIDATION
A Wave of Rebranding

Sign-makers have had business aplenty in Florida thanks to consolidation in the financial industry.

» Wells Fargo made stagecoaches a common sight in Florida for the first time since Flagler's railroad arrived as Wells Fargo rebranded 668 Wachovia Florida branches following the $15-billion acquisition of Wachovia in 2008.

» Canada's TD Bank bought Commerce Bank in 2007 for $8.5 billion and last year acquired South Financial and its Mercantile Bank for $192 million. TD also bought failed Riverside National in Fort Pierce, First Federal of North Florida in Palatka and AmericanFirst in Clermont.

» Pittsburgh-based PNC, after acquiring National City in 2008, this year bought RBC, the U.S. subsidiary of Royal Bank of Canada, for $3.45 billion and is reflagging its 83 Florida branches and 19 it bought in the Tampa market from BankAtlantic.


Tags: Banking & Finance

Digital Access

DIRECT DIGITAL ACCESS
Add digital to your current subscription, purchase a single digital issue, or start a new subscription to Florida Trend.

TABLE OF CONTENTS
An overview of the features and articles in this month's issue of Florida Trend.

ACCESS THIS ISSUE »

Florida Business News

Florida Trend Video Pick

Atlantic Canyons: Pathways to the Abyss
Atlantic Canyons: Pathways to the Abyss

Pathways to the Abyss showcases deepwater marine habitats of two mid-Atlantic Canyons located 100 miles offshore.

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

Are you OK with opening oil drilling off both Florida coasts?

  • Yes
  • Yes, but only as long as drilling would stay 50 miles offshore
  • No, we should keep the current ban of at least 125 miles offshore in place

See Results

Ballot Box
Subscribe