Mercantil in South Florida adds OCC alum to board

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Mercantil Bank Holding in Coral Gables, Fla., has added a director with regulatory experience.

The $8.1 billion-asset company said in a press release Thursday that it had appointed John Quill, a veteran of the Office of Comptroller of the Currency and the International Monetary Fund, to its board. He will also serve as a director of Mercantil's Amerant Bank.

Quill worked 31 years at OCC, where he was deputy comptroller and oversaw problem bank supervision. He chaired an interagency council that helped determine which banks received funds under the Troubled Asset Relief Program.

After retiring in 2011, Quill joined the IMF, where he was a senior financial sector expert on supervision and policy effectiveness. He continues to advise the organization as a consultant.

“It is a privilege to welcome John, who has deep, multifaceted financial services knowledge and experience,” Frederic Copeland, Mercantil's chairman, said in the release. “He is an outstanding addition to our Board as we implement our strategic vision for long-term profitable growth.”

Mercantil represents Quill’s second stint as a bank director. He was on the board of Gibraltar Private Bank & Trust in Coral Gables from 2015 to 2018. Iberiabank in Lafayette, La., bought Gibraltar in March 2018.

Mercantil, which rebranded its bank in October, has a short history as an independent company. Its former parent, Venezuela's Mercantil Servicios Financieros, spun the company off in August.

Mercantil has remained busy since. In addition to the rebranding, it recently completed a $24.7 million private placement.

Mercantil is using the proceeds to buy out the minority stake held by Mercantil Servicious Financieros. In November, Mercantil appointed Copeland as its chairman, replacing Gustavo Vollmer, who is Mercantil Servicios Financieros' chairman. Vollmer led the boards of both companies after the spinoff.

Mercantil, which earned $45.8 million last year, has 15 branches in South Florida and eight in the Houston area. It also has loan production offices in New York and Dallas.

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