Independent Banker - September 2022 - 61

60,000
The number of microloans
Ponce Bank has
made since 2020
The $950 million-asset community bank,
which is majority owned by a Spanish
foreign national, serves clients in south
and central Florida, New York City and
throughout Latin America and Europe who
desire a bank based in the United States for
certain transactions.
" We have sister banks in Guatemala, Peru,
Ecuador and other countries in Latin America,
and there are always referrals from them and
opportunities to work together, " says Jose E.
Cueto, the bank's president and CEO.
A large percentage of the domestic
clients of International Finance Bank are
also Hispanic. But that's due more to the
demographics of Miami-which is about 72%
Hispanic, according to the United States
Census Bureau-than to the fact that the bank
is a minority depository institution (MDI),
Cueto says.
" The Hispanic community is huge here,
especially the Cuban community, " he says. " By
default, if you're in Miami, you're going to have
Hispanic clients. "
Over the past three years, the community bank
has launched a wealth management division and
an insurance subsidiary. These new products
help keep more of their clients' business in house
and generate " sticky " income that's not interest
driven, Cueto notes.
But helping clients manage wealth is not the
only way International Finance Bank serves its
community, fi nancially supporting Habitat for
Humanity, Big Brothers Big Sisters of America
and dozens of other community organizations.
" As a community bank, it's in our roots to
give back, " says Cueto, who is a Miami native
of Cuban descent. " We're out there all the time.
Giving back is on top of our priority list. "
Ed Avis is a writer in Illinois.
independentbanker.org Q 61
Miami-based International Finance Bank is a minority depository institution
(MDI), serving customers across south and central Florida as well as in New
York City, Latin America and Europe. Above, staff members at a Habitat for
Humanity build sponsored by the community bank.
56%
The percentage of Hispanic
people in Taos County, N.M.,
which Centinel Bank serves
50%
of International Finance Bank's
face-to-face interactions
are bilingual

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Independent Banker - September 2022

Table of Contents for the Digital Edition of Independent Banker - September 2022

Table of Contents
Independent Banker - September 2022 - Intro
Independent Banker - September 2022 - Cover1
Independent Banker - September 2022 - Cover2
Independent Banker - September 2022 - Table of Contents
Independent Banker - September 2022 - 2
Independent Banker - September 2022 - 3
Independent Banker - September 2022 - 4
Independent Banker - September 2022 - 5
Independent Banker - September 2022 - 6
Independent Banker - September 2022 - 7
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Independent Banker - September 2022 - 30
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Independent Banker - September 2022 - 37
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Independent Banker - September 2022 - 43
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Independent Banker - September 2022 - 49
Independent Banker - September 2022 - 50
Independent Banker - September 2022 - 51
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Independent Banker - September 2022 - Cover3
Independent Banker - September 2022 - Cover4
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