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Ex-bankers to raise $22M capital to start bank in South Florida

Former Community Bank of Broward COO Joe Dorsey anticipates the opening of Coastal Community Bank NA to take place in the third quarter of 2018, the South Florida Business Journal reported Dec. 19.

Dorsey said a group of former bankers from Broward County banks are looking to raise capital of $22 million to start the bank, and recently filed its pre-filing meeting application with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp., according to the publication.

Expected to be based in Hollywood, the bank will have Dorsey as president and CEO, Jim Afflerback as COO and Anthony Fabiano as CFO.

Afflerback and Fabiano were previously with Regent Bank and Stonegate Bank, respectively.

Stonegate Bank acquired Community Bank of Broward and Regent Bank. It was later sold to Home BancShares Inc.