U.S. Century Bank

Founded in 2002,[1] and initially serving mainly Hispanic-owned businesses, it grew quickly and planned to open up three more branches in 2003;[2] it was called "the little bank that could" in 2005, when it operated nine branches.[3]

U.S. Century Bank is one of the 10 largest community banks headquartered in Miami. In 2007, the bank was named Bank of the Year by both the Latin Builder's Association and the South Florida Hispanic Chamber of Commerce. It received the 2008 Top 100 Outstanding Minority Business Award from the Greater Miami Chamber of Commerce.

On August 7, 2009, U.S. Century Bank announced it has participated in the United States Department of the Treasury's Troubled Asset Relief Program (TARP) Capital Purchase Program by receiving $50.2 million of funds.[4] U.S. Century Bank reported earnings of $1 million in the first quarter of 2010, but deferred the interest payment to the U.S. Government on its TARP loan. The rating agency Fitch downgraded the rating on the banks corporate debt to junk status.[5][6] In addition, the Union of Operating Engineers of Miami reported that US Century Bank was the financial institution in Florida with the highest ratio of loans to inside directors of the State of Florida in 2009.[7]

On June 7, 2011, The Federal Deposit Insurance Corporation issued U.S. Century Bank with a consent order citing issues with asset quality, management, earnings, capital, liquidity and sensitivity to market risk.[8] The U.S. Department of the Treasury appointed a federal observer to the bank's board because the bank has not made its last eight TARP dividend payments. U.S. Century ended 2011 with $1.26 billion in deposits and $1.11 billion in loans.[9]

On August 22, 2012, it was announced that U.S. Century Bank President Octavio Hernandez would retire and that the Board of Directors of U.S. Century Bank has appointed Carlos J. Dávila as President, Chief Executive Officer and member of the Board of Directors.[10]

On December 12, 2013, U.S. Century Bank named former U.S. attorney for the Southern District of Florida R. Alexander Acosta as its new chairman. Acosta was head prosecutor in the region from 2005 until 2009, when he accepted his current position as dean of Florida International University's law school.[11]

U.S. Century Bank announced the closing of its $65 million recapitalization on March 18, 2015. The bank had previously tried to close two other capital raise plans. It announced regulatory approval of its latest plan on Feb. 20 and gained shareholders' approval on March 9. The deal consisted of $41 million provided by two main investors and $24 million provided by individuals who invested up to $1.2 million.[12]

U.S. Century announced the appointment of Luis de la Aguilera as President and CEO on December 15, 2015.[13] De la Aguilera spent 15 years at TotalBank, becoming president in 2009 and CEO in 2013.

On April 23, 2016, it was announced that the regulatory consent order U.S. Century had been operating under for the last five years had been lifted. It was also announced that President and CEO Luis de la Aguilera and executive VP and Chief Credit Officer Benigno Pazos were formally confirmed to their roles following a regulatory no-objection to their appointments.[14]

Ramón A. Abadin, immediate past president of the Florida Bar Association, was added to the Board of Directors in January 2017. Abadin will expand the board to six.[15]

U.S. Century reported on January 31, 2017 its first year-end profit since 2008.[16] By nearly every measure reported on December 31, 2016, performance improved or remained relatively stable compared to last year. Improvements in credit quality and a reduction in non-performing assets from $38.9 million to $15.6 contributed to an increase in interest income and moderate growth of the loan portfolio. At 2016 year-end, OREO properties were reduced to $5.0 million, the lowest level in the last seven years.

The board of directors of U.S. Century Bank appointed Aida Levitan, Ph.D as chairman of the board effective May 1.[17] Levitan replaces Alex Acosta, who was confirmed by the U.S. Senate as labor secretary on April 27.

U.S. Century reported on July 18, 2017, the addition of Bernardo B. Fernandez, Jr., M.D. as the newest member of its Board of Directors. The addition of Dr. Fernandez brings the board's number to six members.[18]

Bauer Financial, the nation's leading independent bank rating and research firm, awarded U.S. Century 5 stars on September 6, 2018. This is the highest rating given to financial institutions.

• Aida Levitan, Ph.D, Chairman of the Board of Directors of U.S. Century Bank
• Luis De La Aguilera, President & CEO, U.S. Century Bank

Century Tower, Doral, Florida.

The Bank operates 11 branches located throughout Miami-Dade and Broward Counties. Deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to the legal limit. U.S. Century Bank's branches are located in Aventura, Coral Gables, Doral, Hialeah, Hialeah Gardens, Hollywood, Miami (4) and Miami Lakes.

• Official Web Site