Mercantil Bank is a nationally chartered financial institution and one of the largest privately held banks in South Florida. The Bank has been offering financial services to the communities it serves for over 35 years, and is headquartered in Coral Gables, Florida. Mercantil Servicios Financieros (MSF), a Venezuelan company, beneficially owns the Bank through U.S. bank holding companies. MSF is the largest provider of financial services in Venezuela, with more than 90 years of experience and offices in the Americas and Europe.
Founded in 1979 with one branch in North Miami, Mercantil Bank set out to serve the financial needs of its neighboring communities. In 1987, with $20 million in assets, the Bank was acquired by Mercantil, establishing an ongoing commitment to provide quality financial services and personalized attention to domestic and international customers.
In 1990, Mercantil Bank purchased two banks from the FDIC and opened a banking center in West Hialeah, increasing its branch network to five and its assets to nearly $200 million. Five years later, Mercantil Bank branched out of Miami-Dade County into Broward County with the opening of its Pompano Beach banking center. In 1997, the Bank reached $500 million in assets, with a strong capital base and a broad product offering to support its geographical and financial expansion in the years ahead.
The Bank expanded to Houston in 2002 and later opened its first full-service banking center in 2005. Additional banking centers were opened beginning in 2013 to strengthen Mercantil Bank’s service to the Houston community. In addition, the Bank established a presence in New York with a focus on commercial real estate.
In 2007, the Bank launched its new name as Mercantil Commercebank, following a global branding initiative of MSF to unify and emphasize the global reach and the strength of the Mercantil brand across different geographies.