Grand Bank, with locations in West Palm Beach, Palm Beach Gardens Lantana and four other locations is in trouble. Russell Greene, bank president and CEO, says, "it is due to the accumulation of nonperforming loans on a backlog of mortgage foreclosures."
Regent Bank is also in trouble--
Chairman and CEO Cyril “Sid” Spiro said the bank has been working to raise money with a combined common stock and convertible subordinate offering that should be out right after the first of the year. He also said he expects a gain if the bank can sell its South Carolina bank, which would provide capital for the Florida bank.
Read more: Regent, Grand Bank & Trust target of enforcement actions | South Florida Business Journal
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