July 14, 2014 Media Contact Ana Ordonez Senior Marketing Manager ordonezana@sabadellbank.com (305) 351‐4317
Sabadell United Bank completes the acquisition of JGB Bank
The merger significantly strengthens Sabadell United Bank's ability to serve clients in South Florida
Sabadell United Bank has expanded its leading presence in Florida; the bank now manages 27 locations, over 40,000 clients, and about $8 billion in business volume
The transaction marks another important milestone in Sabadell’s growth strategy in the Americas
MIAMI – July 14, 2014 – Sabadell United Bank announced today it has completed the acquisition of JGB Bank (“JGB”). The merger became effective on Friday, July 11th, and JGB was integrated into Sabadell United Bank over this past weekend. The acquisition bolsters Sabadell United Bank’s presence in South Florida with an expanded branch footprint of 27 locations from which the bank manages approximately $8 billion in business volume. Both Sabadell United Bank and JGB have similar core values and going forward Sabadell United Bank is committed to continuing to provide high quality banking services. “We are pleased to welcome the clients and employees of JGB Bank to Sabadell United Bank,” said Mario Trueba, President and CEO of Sabadell United Bank. “We look forward to providing all of our clients with enhanced banking services and a more extensive footprint as a result of this strategic acquisition.” Fernando Pérez‐Hickman, Managing Director of Sabadell Americas and Chairman of Sabadell United Bank added, “This acquisition maintains our momentum as we continue our expansion strategy in Florida. The Sabadell family is proud to incorporate JGB as our seventh acquisition in the past seven years. JGB’s employees and clients will make a great contribution to our ongoing mission of becoming the leading bank in Florida.”
Sabadell United Bank offers personal and corporate banking solutions as well as wealth management services throughout Florida. JGB, founded in 1957, was the second oldest banking institution in South Florida. Its primary focus was also to provide personal and corporate banking solutions. In 1998, JGB was acquired by Jaime Gilinski, who is currently the largest shareholder of Sabadell United Bank’s parent company, Banco Sabadell. Sabadell United Bank was advised on the JGB transaction by Keefe, Bruyette & Woods, with legal representation by Hunton & Williams, LLP. About Sabadell Sabadell United Bank is a locally‐managed, nationally‐chartered banking institution that serves over 40,000 clients in Florida with a network of 27 branches throughout Florida. It is recognized as the trusted financial advisor for professionals and businesses as well as high net worth individuals. Sabadell United Bank consistently ranks as one of the most well capitalized banks in the state and is rated 5 stars by Bauer Financial for its financial stability. Sabadell also operates an international branch headquartered in Miami that provides private and corporate banking services focused on individuals and companies operating in the United States and Latin America. In the past seven years, Sabadell United Bank, together with Sabadell's International Branch, has grown its presence in Florida over eightfold in terms of deposits and assets under management. Sabadell's International Branch in Miami currently manages more than $6 billion of international business volume. In total, including JGB, Sabadell now manages more than $14 billion of business volume in the Americas. ###