Florida-based Banesco USA is expanding its presence in that southern U.S. market through the acquisition of all of the deposits of Security Bank, National Association, through a Federal Deposit Insurance Corporation-assisted transaction.
Ten months after South Florida-based BBU Bank acquired and merged Banesco International Bank Corp. into its mainland U.S. domestic banking operations, it will be changing its name to Banesco USA, the banking institution’s CEO Rafael "Rafo" Saldaña said.