Banking veteran Mary Usategui set to launch new venture BankMiami this year
Mary Usategui, a serial bank executive who has previously served on the C-suite of various banks and financial institutions in the South Florida area, is preparing to launch a new state-chartered, full-service commercial bank called BankMiami in Miami-Dade County, USA.
Mary Usategui is preparing to launch BankMiami (Image: LinkedIn)
Scheduled to arrive in Q2 2024, it will be the first de novo bank to be established in the region in 15 years, and will seek to offer what it describes as a “boutique concierge banking experience” from its Miami headquarters.
Usategui made her financial industry debut working for Miami-based Coconut Grove Bank as a financial analyst prior to its 2017 rebrand to Grove Bank and Trust. She also previously served as executive vice president (EVP) and chief financial officer (CFO) for Coral Gables-based Professional Bank before it was snapped up by Seacoast Bank in January 2023, at which point she transitioned into the role of EVP and chief strategy officer for the acquiring bank.
Now she is laying the foundations for her own bank, having confirmed with the South Florida Business Journal that she has lodged the necessary applications with the Federal Deposit Insurance Corporation (FDIC) and the Florida Office of Financial Regulation to do so.
When and if the green light of regulatory approval shines, Usategui will serve as president and CEO of BankMiami.
Commenting on the move via LinkedIn, Usategui recognises “a clear need for a community bank that offers a more personalised, tailored approach to banking across all interaction points”.
“With the recent wave of mergers and acquisitions, many community banks have been absorbed, leaving a gap in the market,” she explains. “BankMiami looks forward to filling that void.”
