Doral-based U.S. Century Bank said a deal led by local real estate investors to buy a 75 percent stake in the bank has been scrapped. But new suitors have come forward.
January 09, 2014 at 11:35 PM
1 minute read
A plan to prop up a struggling Doral-based bank appears to have been thwarted by an unexpected and unlikely factor: Miami’s fledging real estate boom.
U.S. Century Bank received $50.2 million in federal Troubled Asset Relief Program bailout money in 2009 but has since suffered significant losses. The bank said Wednesday that a deal led by local real estate investors to buy a 75 percent stake in the bank has been scrapped.
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