Premier buys two failed banks

Premier American Bank NA bought two failed banks last week: Winter Park-based First National Bank of Central Florida, and Brooksville-based Cortez Community Bank.

Premier is a wholly owned subsidiary of Bond Street Holdings Inc., which was featured in the Business Review a year ago (see “Off the Shelf”). In January 2010, Bond Street acquired Florida Community Bank of Immokalee; at the time of its failing, First Community was the sixth-largest bank headquartered on Florida's Gulf Coast, with $836 million in assets.

Miami-based Premier American Bank has 15 offices in the Gulf Coast area: five in Charlotte County, two in Collier, five in Lee, and three in Sarasota. The recently acquired banks will give Premier a network of 37 branches, with $3 billion in assets under management.