The Real Deal Miami

Venezuelan capital boost for Mercantil Commercebank

December 09, 2009 02:08PM

The corporate parent of Mercantil Commercebank put $50 million into its Florida subsidiary, stabilizing the position of South Florida’s third-largest chartered bank. The Coral Gables bank had assets of $5.8 billion on Sept. 30. A Federal Deposit Insurance Corp. report said it had problems with $449.7 million in noncurrent loans, representing 14.54 percent of its total loans, plus $20.2 million in repossessed property. [SFBJ]