Carey, Ávila Rodríguez Hernández Mena & Ferri and Smith Mackinnon advised on the transaction
City National Bank, operating as a subsidiary of Banco de Crédito e Inversiones,
has entered into an agreement to purchase Miami-based Executive Banking Corporation, the parent company of Executive National Bank. As of June 30, 2019, CNB and Executive National Bank had combined assets of approximately $15.5 billion, $11.0 billion in loans and $12.2 billion in deposits. The acquisition is subject to regulatory approval.
Executive National Bank, with assets of about $455 million, is a full-service community bank founded in 1972. It has three banking centers in Miami-Dade County. Executive National Bank and CNB have similar relationship-based business models. Executive National Bank will be merged into CNB.
The acquisition will expand CNB’s presence in South Florida, deepen its reach and banking center network, expand its client base, and help enhance its community association offerings.
Carey adivsed Banco de Crédito e Inversiones de Chile with Francisco Ugarte (Picture) Alejandra Daroch and Reiner Baack.
Ávila Rodríguez Hernández Mena & Ferri advised City National Bank of Florida (CNB) and BCI Financial Group with Asnardo Garro, Alcides Ávila, Javier Alvárez, Christopher Ávila and Sabrina Rishmague.
Smith Mackinnon advised Executive Banking Corporation and Executive National Bank with John P. “Jack” Greeley.
Involved fees earner: Javier Alvarez – Avila, Rodríguez, Hernández, Mena & Ferri; Alcides Avila – Avila, Rodríguez, Hernández, Mena & Ferri; Christopher Avila – Avila, Rodríguez, Hernández, Mena & Ferri; Asnardo Garro – Avila, Rodríguez, Hernández, Mena & Ferri; Sabrina Rishmague – Avila, Rodríguez, Hernández, Mena & Ferri; Reiner Baack – Carey; Alejandra Daroch – Carey; Francisco Ugarte – Carey; John Greeley – Smith Mackinnon;