Banking on Miami: the CEO of the US arm of one of Central America's biggest banks is betting on the future of South Florida--because it is so intimately tied to the region's markets.(BAC Bank of Florida)

South Florida CEO | October 1, 2003| | Copyright

With $700 million in assets and $580 million in deposits, Coral Gables-based BAC Bank of Florida--the US arm of the Nicaragua-based Grupo BAC Credomatic--is considered one of South Florida's leaders in real estate finance for foreign investors, says CEO Thomas Noonan. "We're in the business of helping foreigners diversify their real estate holding," he says. "It's always US real estate, most of it in Florida." BAC, which also has the largest credit-card operation in Central America, does some correspondent banking and trade finance. But the lion's share of the bank's ...

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