Organizers of the proposed BankMiami plan to raise $32.5 million of initial capital.
The group said in its application with the Federal Deposit Insurance Corp. that the bank will focus primarily on small to midsize businesses offering retail and commercial banking services. The bank will focus on relationship banking through in-person services and a secure, cloud-based platform.
BankMiami is expected to have $390 million of assets, $354 million of deposits and $272 million of loans by the end of the third year. It should be projected in the third quarter of its second year of operation.
Mary Usategui would serve as the proposed de novo’s president and CEO. She was chief financial officer of Professional Bank when it was sold to Seacoast Banking Corp. of Florida. She then served as Seacoast’s chief strategy officer, leaving the bank in September.
The board includes several bankers, including Karen Sharp, who retired as president and CEO of First State Bank of the Florida Keys in December 2022, and Ryan Gorney, former chief technology and innovation officer at Seacoast National Bank.
Gorney will join Panacea Financial as chief information/technology officer later this year, the application said.