FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Landmark Bank announced today that it has assumed essentially all of the assets and deposits of Valley Bank, Fort Lauderdale, Florida, after Valley Bank was closed by the Florida Office of Financial Regulation. Valley Bank’s four branches, located in Fort Lauderdale, Davie, Hollywood and Tamarac, will reopen as branches of Landmark Bank on Monday, June 23, 2014 for normal business hours. Deposit accounts remain fully insured up the FDIC limits, and will automatically become Landmark Bank deposits, so customers do not need to change their banking relationship. This evening and over the weekend, Valley Bank customers can continue to access their money by writing checks or using ATM and debit cards or online banking.
“We extend a warm welcome to Valley Bank customers, and want to reassure them that their deposits are safe and easily accessible, and their loan terms remain unchanged. The Landmark Bank team looks forward to building long-term relationships with our newest customers and serving all their financial needs,” said Landmark Bank President & CEO Perry A. LaCaria.
“From a business perspective, this acquisition builds the Landmark Bank brand and supports our planned expansion in a market that presents tremendous growth potential. As the economy continues to recover and businesses rebound, they will require more sophisticated financial services. We are excited by the opportunity to bring our quality banking products and services to even more customers who will benefit from a banking relationship with us,” LaCaria said.
Landmark Bank specializes in business banking solutions, including commercial real estate loans and lines of credit, commercial and industrial loans, and homeowner and condo association financial services. Additional business services include Mobile Banking, Online Cash Management, Remote Deposit Capture, Merchant Services, Business Credit Cards, Courier Service, deposit accounts and more.
Landmark Bank, N.A., a locally-owned community bank established in 1998, has $335 million in assets, including assets assumed in the Valley Bank transaction. It now operates six full-service branches in Broward County. An additional branch is scheduled to open in Boca Raton this summer. For more information, visit www.landmarkbankonline.com, or contact Landmark Bank at (954) 958-0001 or via email at help@landmarkbankonline.com.