First Florida Office Opened by Major New York Bank

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New York-based Ponce Bank has made its first foray into the Florida market with the opening of a new office in Coral Gables. This move marks a significant expansion for the community bank, which has traditionally operated in New York and New Jersey.

Located at 1600 Ponce de Leon Blvd., the new office will offer a range of financial services, including commercial lending, mortgages, and small-business banking. The decision to enter the Florida market is part of the bank's strategy to serve its customers with ties to the state. Many of Ponce Bank's existing clients either own businesses in Florida or spend part of the year there.

“A presence in South Florida makes perfect sense,” said Carlos Naudon, President and CEO of Ponce Bank. “The region is home to many of our customers, and the large Hispanic community in South Florida aligns well with one of our key demographics.”

Leading the new Coral Gables office will be Juan “Jay” Sanchez, Customer Relationship Officer at Ponce Bank. Sanchez, who has been instrumental in building customer relationships in the New Jersey market, will now oversee operations at the new Florida location while continuing his work in New Jersey.

Coral Gables, a prominent financial hub within Miami-Dade County, is home to numerous financial institutions and professional services firms. Its affluent population and concentration of businesses make it an attractive destination for banks expanding their reach. Ponce Bank joins other community banks such as Amerant Bank and International Finance Bank, which also have a strong presence in the area.

Ponce Bank has 14 locations across New York and New Jersey, with its headquarters in the Bronx. As of June 30, the bank reported $2.8 billion in assets, $1.6 billion in deposits, and nearly $2.1 billion in loans and leases, according to data from the Federal Deposit Insurance Corporation (FDIC).

While specific details regarding the size and staffing of the new Coral Gables office are yet to be revealed, the opening marks Ponce Bank’s commitment to expanding its footprint beyond its traditional markets. The bank’s presence in Florida will enable it to better serve existing clients and attract new customers in one of the fastest-growing regions in the country.

With this expansion, Ponce Bank looks to leverage the economic opportunities in South Florida, while continuing to uphold its reputation for strong community banking and personalized service.