Banco 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, SpainÃƒÆ’Ã†â€™Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¡Ãƒâ€šÃ‚Â¬ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¾Ãƒâ€šÃ‚Â¢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.