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Purchase approval of Brickell Bank by Benhamous awaited

Dec 19, 2018

It seems the sun may be setting on the purchase approval of Brickell Bank this year. Chairman and CEO Frederick Reinhardt, who expected the Federal Deposit Insurance Corp.’s thumbs-up in 2018, remains hopeful about receiving purchase approval soon and expects the influx of capital to serve the company well.

The FDIC is weighing Joseph Benhamou’s offer after a public hearing was held with the Office of Financial Regulation in early November as required by Florida law. The meeting focused on the prospective 99.99% acquisition of the bank by Mr. Benhamou, his wife Mirella Viviana Benhamou-Arbib and their daughter Mycol Benhamou-Namdar. All parties involved are waiting for a response from the FDIC.

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