U.S. Century Bank

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U.S. Century Bank
Industry Banking
Financial services
Investment services
Founded Miami, Florida (October 28, 2002)
Headquarters Doral, Miami, Florida
Area served
South Florida
Key people
Alex Acosta
Chairman of the Board

Luis de la Aguilera
President and CEO
Products Finance and insurance
Consumer Banking
Corporate Banking
Investment Banking
Global Wealth Management
Total assets Decrease US$ 931 million (December '13)
Total equity Decrease US$ 47 million (December '13)
Number of employees
243 (December 2013)
Website uscentury.com

U.S. Century Bank is a community bank in the U.S. state of Florida, locally owned and headquartered in Miami. U.S. Century Bank is a company that provides consumer and business banking services to communities throughout south Florida. It has approximately $1.61 billion in total assets, $100 million in equity capital, and a branch network that includes 24 locations throughout Miami-Dade and Broward counties. It is a member of the Federal Deposit Insurance Corporation.

Founded in 2002,[1] and initially serving mainly Hispanic-owned businesses, it grew quickly and planned to open up three more branches in 2003;[2] it was called "the little bank that could" in 2005, when it operated nine branches.[3]

U.S. Century Bank is one of the 10 largest community banks headquartered in Miami. In 2007, the bank was named Bank of the Year by both the Latin Builder’s Association and the South Florida Hispanic Chamber of Commerce. It received the 2008 Top 100 Outstanding Minority Business Award from the Greater Miami Chamber of Commerce.

On August 7, 2009, U.S. Century Bank announced it has participated in the United States Department of the Treasury's Troubled Asset Relief Program (TARP) Capital Purchase Program by receiving $50.2 million of funds.[4] U.S. Century Bank reported earnings of $1 million in the first quarter of 2010, but deferred the interest payment to the U.S. Government on its TARP loan. The rating agency Fitch downgraded the rating on the banks corporate debt to junk status.[5][6] In addition, the Union of Operating Engineers of Miami reported that US Century Bank is the financial institution in Florida with the highest ratio of loans to inside directors of the State of Florida.[7]

On June 7, 2011, The Federal Deposit Insurance Corporation issued U.S. Century Bank with a consent order citing issues with asset quality, management, earnings, capital, liquidity and sensitivity to market risk.[8] The U.S. Department of the Treasury appointed a federal observer to the bank’s board because the bank has not made its last eight TARP dividend payments. U.S. Century ended 2011 with $1.26 billion in deposits and $1.11 billion in loans.[9]

On August 22, 2012, it was announced that U.S. Century Bank President Octavio Hernandez would retire and that the Board of Directors of U.S. Century Bank has appointed Carlos J. Dávila as President, Chief Executive Officer and member of the Board of Directors.[10] On August 30, Trevor Burgess, the Chief Executive Officer of C1 Bank, and Ramon E. Rasco, the Chairman of U.S. Century Bank, announced that C1 Bank and CBM Florida Holding Company, have entered into a definitive agreement with U.S. Century Bank for the acquisition of Doral, FL based U.S. Century Bank. The acquisition will be accomplished through the merger of U.S. Century Bank into C1 Bank.[11]

U.S. Century announced the appointment of Luis de la Aguilera as President and CEO on December 15, 2015.[12] De la Aguilera spent 15 years at TotalBank, becoming president in 2009 and CEO in 2013.

On April 23, 2016, it was announced that the regulatory consent order U.S. Century had been operating under for the last five years had been lifted. It was also announced that President and CEO Luis de la Aguilera and executive VP and Chief Credit Officer Bengino Pazos were formally confirmed to their roles following a regulatory no-objection to their appointments.[3]

Board of directors[edit]

U.S. Century Bank’s directors are successful business leaders who have built companies from the ground up and who are experienced in operating and managing financial institutions. They provide the bank’s management with strategic direction.

  • Alex Acosta, Chairman of the Board of Directors of U.S. Century Bank
  • Luis De La Aguilera, President & CEO, U.S. Century Bank
  • Aida Levitan, National Smithsonian Latino Center, Friends of the National Museum of the American Latino, and the Spanish Cultural Center


Century Tower, Doral, Florida.

The Bank operates 17 branches located throughout Miami-Dade and Broward Counties. Deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to the legal limit. U.S. Century Bank's branches are located in Aventura, Brickell, Coral Gables, Doral, Downtown Miami, Hialeah (2), Hialeah Gardens, Hollywood, Miami (9), Miami Lakes, South Beach, and West Kendall.


External links[edit]