Bond Street Holdings subsidiary, Florida Community Bank, looking to acquire Great Florida Bank

Florida Community Bank, which has four Treasure Coast branches among 42 in Florida, is nearing completion of its acquisition of the troubled Miami Lakes-based Great Florida Bank.

Contrary to its name, Florida Community Bank is a federally chartered institution owned by Bond Street Holdings, a Miami-based bank holding company established in 2009.

Since then, Florida Community Bank had bought eight failed Florida banks, including Port St. Lucie-based First Peoples Bank in July 2010, but Miami Lakes-based Great Florida Bank is the first solvent bank it will acquire.

Though solvent, Great Florida hasn’t turned an annual profit since 2007 and was recently given zero stars by BauerFinancial, the Coral Gables-based independent agency that rates financial institutions. Florida Community Bank was given five stars, the highest rating.

Upon completion of the merger, expected to be finalized by the end of this year, Florida Community Bank will have 67 offices and $4.4 billion in assets, making it the fifth-largest Florida-based bank, the bank said in a news release.

“In the wake of the financial crisis of the past six years, a number of banking companies have emerged with the goal to establish a prominent Florida-based bank to serve the entire state,” said Sarasota-based bank consultant Frank Knautz. “Florida Community Bank appears to among the leading contenders in this group.”


About Black Pearl Capital Partners

Black Pearl Capital Partners is a private equity fund created and managed by Black Pearl Capital (BPC). BPC is an asset management firm registered in the Cayman Islands, with headquarters in Switzerland and offices throughout Europe and the Middle East. For more information, visit

Bond Street Holdings

Bond Street Holdings is a Private Equity Venture that has been formed to capitalize on opportunities in the Financial Institutions sector, and dislocations in the financial markets across the country. For more information, visit


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