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.