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Florida Approves Acquisition of Transatlantic Bank by Banco Sabadell, Barcelona, Spain

4/25/2007

CONTACT: Linda Charity, Director
PHONE NUMBER: (850) 410-9800
 
TALLAHASSEE - Don Saxon, Commissioner of the Florida Office of Financial Regulation, today approved the acquisition of TransAtlantic Bank, Miami, by Banco Sabadell, Barcelona, Spain.  Banco Sabadell has maintained a Florida state-chartered international banking office in Miami since 1993; however, this is the banking organization’s first acquisition of a commercial bank in the United States.  Founded in 1881, Banco Sabadell is Spain’s fourth largest banking group, which celebrated its 125th year of continuous operation on Dec. 31, 2006.  Banco Sabadell has in excess of $86 billion in total assets.
 
“This acquisition is an important milestone in the history of Florida banking and for the economic progress of this state,” said Commissioner Saxon.
 
TransAtlantic Bank has 7 offices in Miami-Dade County, opened for business in August 1984, and had total assets in excess of $597 million at the end of 2006.  CEO Miriam Lopez, President Julian Mesa, and EVP Marcus Escagedo will continue to lead the bank.

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