Miami’s largest bank says it will close by the end of the year
Posted On May 24, 2021
MAMI BEACH, Fla.
– Miami-Dade County’s largest financial institution is closing by the summer after more than a year of bankruptcy protection, the Miami Herald reported.MECCI Financial Group filed for bankruptcy protection in July, saying it needed help to keep operating and to provide its customers with the services they need to succeed.
The Miami-Dadera County Bank, based in Miami, has been a member of the National Association of Realtors since 2009.
The bank has been in receivership since April.
The bankruptcy filing said the bank’s “failure to maintain financial discipline has caused a substantial and substantial loss to MECCI.”
The news comes as the Miami-area community is facing record-breaking temperatures and is being battered by Hurricane Matthew.
On Wednesday, the National Weather Service predicted that the storm could bring temperatures of up to 100 degrees Fahrenheit to the region.
The bank said it was looking for a buyer for its assets.
It said it expects to close its operations by the start of the fall.
MecCI Financial is the largest U.S. bank, with more than 1,300 branches, and one of the largest mortgage lenders in the country.