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Business

ImageBanco Sabadell announced that it completed the acquisition of Miami-based Mellon United National Bank (MUNB) after obtaining necessary approvals from the Federal Reserve Bank of Atlanta and the Bank of Spain, Spain’s Central Bank.

The acquisition creates the 6th largest local bank based in Miami in terms of deposits. Sabadell group now manages a total of $6.4 billion dollars of business (investment and funds). Banco Sabadell acquired a total $1,675 million dollars in deposits and $875 million dollars in loans (60% of the loan book) after selecting the assets to be included in the MUNB deal. MUNB has fifteen branches in Miami-Dade, Broward and Palm Beach counties.

Effective January 12, 2010, the Bank of Jamaica (BOJ) has discontinued offering its Certificate of Deposit (CD) for tenors of 60-days, 90-days, 120-days and 180-days, until further notice. As such, only the 30-day CD is currently being offered.
The Southern Florida Minority Supplier Development Council (SFMSDC) will host its 25th Annual Business Expo on March 11th-12th at the Broward County Convention Center, 1950 Eisenhower Boulevard, Ft. Lauderdale, from 8:30 am to 5:00 pm.
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Chairman Dennis C. Moss
From February 8-22, 2010, small business owners in Commission Chairman Dennis C. Moss’ District 9 will have the opportunity to apply for Mom & Pop Small Business grants up to $5,000.00 to assist their small business. Eligible business owners receiving grant awards may use the funds to assist their businesses by purchasing equipment, supplies, advertising/marketing, inventory, building liability insurance, security systems and/or to make minor renovations.
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