Apollo Bank receives final approvals to acquire First Bank of Miami
07/28/2014 11:16 AM
07/28/2014 1:53 PM
Apollo Bank said Monday that it has received all the final regulatory approvals for its planned acquisition of First Bank of Miami.
Miami-based Apollo said that it expects to complete the purchase, which will bring it to $500 million in assets, by the second week of August.
Once the deal closes, Apollo’s branch network will expand to downtown Miami, Hialeah, Kendall, Coral Gables and Doral, in addition to its main office in the Brickell financial district. The bank’s lending limit will increase to $12 million.
Join the Discussion
Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.