Mary Usategui to Launch BankMiami in Miami-Dade County

Banking veteran Mary Usategui has announced intentions to launch BankMiami, a state-chartered full-service commercial bank, in a strategic move to handle Miami's growing financial landscape. Mary, who formerly held C-suite positions at South Florida institutions such as Coconut Grove Bank and Professional Bank, hopes to meet the burgeoning demands of Miami's business and resident communities.

Mary has filed applications with the Federal Deposit Insurance Corporation and the Florida Office of Financial Regulation to become President and CEO of BankMiami. Reflecting on the present banking scene, Mary stressed the need for a community bank that offers a customized and individualized approach to banking, particularly in light of recent mergers and acquisitions that have created a market gap.

"As Miami continues to grow and attract new businesses and residents, there's a clear need for a community bank that offers a more personalized, tailored approach to banking across all interaction points," Mary said in a press release. She emphasized BankMiami's dedication to becoming more than simply a bank, establishing itself as a devoted partner to assist clients in navigating their financial path by providing tailored solutions.

BankMiami, subject to regulatory permission, is slated to become Miami-Dade County's first new bank since 2008, with plans to open its doors in the second quarter of this year. Mary’s significant experience and strategic vision position BankMiami as a vital participant in filling the hole created by previous industry consolidations by providing a one-of-a-kind and client-centric banking experience.