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A plan to inject $50 million into U.S. Century Bank has reportedly been called off, leaving the undercapitalized Doral, Fla., bank in limbo.
January 7 -
The founding chairman of U.S. Century Bank in Miami will step down.
December 12
Coconut Grove Bank in Miami has appointed a new chief financial officer: Samuel Milne, the former CFO of the struggling U.S. Century Bank.
Milne joins the $606 million-asset Coconut Grove after 12 years at the Doral, Fla.-based U.S. Century, according to a
Milne's "extensive experience and breadth of knowledge will help build on our success and drive further progress in developing our operational areas," Coconut Grove Bank Chief Executive
Coconut Grove and U.S. Century could not immediately be reached for comment. U.S. Century plans to appoint a new CFO by Jan. 31, according to the Business Journal.
The $938 million-asset U.S. Century is one of the nation's largest undercapitalized banks. It had a 5.1% Tier 1 leverage ratio and a 7.28% total risk-based capital ratio as of Sept. 30, according to the Federal Deposit Insurance Corp.
Investors
The founding chairman of U.S. Century, Ramon Rasco,