My e-BAnC: BAC Florida sells $21M in mortgages to Pacific National Bank

Two local banks closed a mutually beneficial deal earlier this year, marking the healthy return of South Florida's mortgage climate. Miami-based Pacific National Bank purchased 72 mortgages from Coral Gables-based BAC Florida Bank as part of its three-year strategic plan in April. The mortgage transaction was recorded in Miami-Dade and Broward County court records. "We sold them $21 million in loans," said Frank Robleto, president and CEO of BAC Florida. The Coral Gables bank has long had...