Fifth Third Bank, in partnership with Community Reinvestment Fund, USA, has introduced the Small Business Catalyst Fund, a $7.85 million initiative designed to fund small businesses, across Fifth Third’s 11-state region. The fund will connect small business owners with capital options through Community Development Financial Institutions and includes grants, microloans and small business loans, ranging … Read more
The U.S. national debt is rising by $1 trillion roughly every 100 days right now, which now stands at nearly $35.8 trillion as of 10/22/2024. To make matters worse, the Treasury has also drawn down its cash balance by $72 billion putting it over $275 billion in the red. The report spread like wildfire, especially … Read more
Massive layoffs have been hitting the news at an increasing frequency, with Intel, CVS, Aetna, and John Deer being some of the most recognizable. At the same time, wages remain stagnant, inflation has made everything less affordable, and credit underwriting has become more stringent. This is the financial equivalent of “The Captain has turned on … Read more
Amerant Bancorp (NYSE: AMTB) announced the closing of its public offering of 8.68 million shares of its Class A common stock at $19 per share, raising approximately $165 million in gross proceeds. The offering included 784,210 shares issued after underwriters exercised their option to buy additional shares. Headquartered in Coral Gables, the company plans to … Read more
Two Tampa Bay area banks have been recognized in the latest American Banker rankings for their exceptional customer service and reputation. Regions Bank secured the 12th spot, while Truist Bank ranked 15th. These rankings are based on factors such as customer satisfaction, trust and community involvement. Regions and Truist were commended for their commitment to … Read more
Flagship Bank, a subsidiary of West Florida Bank Corp., has appointed Amy Perdek as its new executive vice president and chief administrative officer. In this role, Perdek will manage the bank’s daily operations and oversee administrative functions, with responsibilities including policy development, budget management and ensuring regulatory compliance. Perdek has more than 25 years of … Read more
You’ve probably heard a statistic thrown about the percentage of small businesses that fail within the first year, and while that number changes depending on several variables, it’s always astronomically high. According to the U.S. Bureau of Labor Statistics (BLS), the failure rate for new businesses is roughly 20% in the first two years, 45% … Read more
LCG Advisors, a Tampa-based financial services advisory firm, has named John Pilson as managing director of LCG’s investment banking division. Pilson started his career in investment banking at Bank of America Securities, in Charlotte, North Carolina, and has more than 20 years of finance and advisory experience. Most recently, Pilson held the position of managing … Read more
SmartAsset has conducted a study on the amount of money that is necessary to be in the top 1% of earners in each state nationwide. Florida ranked 8th in the nation, for states with the highest income threshold to reach the top 1% of earners. In Florida, the income floor of the top 1% of … Read more
Truist Financial Corp. (NYSE: TFC) has appointed Val Perez as the market president for Southwest Florida to oversee commercial banking for Truist. Perez enters the role with more than 35 years of banking experience across retail and commercial banking teams. He has held roles leading customer experience, sales strategy, small business and commercial teams at numerous regional banks. … Read more