U.S. Century Bank, which is in the midst of seeking regulatory approval for its recapitalization by a group of local investors, said Thursday that its longtime chairman, Ramon E. Rasco has resigned. The bank has named R. Alex Acosta as the new chairman of the board, effective Dec. 31, subject to regulatory approval.
Rasco, an attorney, was one of the founding members of U.S. Century Bank and served as chairman since the bank’ inception in 2002.
Acosta, who joined U.S. Century’s board in October, is former United States Attorney for the Southern District of Florida and the current Dean of the FIU College of Law. He became the second dean of law at FIU in 2009. Acosta was the first Hispanic to hold the rank of Assistant Attorney General and most recently, and was the longest serving U.S. Attorney in the Southern District of Florida since the 1970’s, the bank said.