Home Federal Bank of Hollywood has hired a new chief executive with experience guiding troubled Florida lenders.
The $59.4 million-asset bank named Robert Brookes CEO last month,
Brookes has previously held the CEO post at two other Florida banks: JGB Bank in Doral and Security Bank in North Lauderdale. Security Bank was seized by the Federal Deposit Insurance Corp. in May 2012 but regulators did not hold Brookes responsible for the failure, the Business Journal said.
Home Federal is operating under a 2012 consent order with the Office of the Comptroller of the Currency that requires it to maintain a Tier 1 leverage ratio of 9% and total risk-based capital of 13%. Its ratios were 6.7% and 11.83% as of March 31, according to the FDIC.
"I am delighted to take on the challenge with the Home Bank team to continue to address the deficiencies noted in the 2012 [regulatory] consent order," Brookes told the Business Journal. "The bank is working closely with the regulators and has made significant progress relative to the
