orphan as no other articles link to it . please introduce links to this page from related articles ; try the find link tool for suggestions . january 2011 great florida bank genre financial services founded 2004 founder m. mehdi ghomeshi defunct january 31 2014 headquarters coral gables florida united states area served miami dade county broward county palm beach county total assets 1.56 billion dec. 2010 1 website greatfloridabank.com great florida bank otcqb gflb headquartered in miami lakes florida was established on june 30 2004 as a state charted commercial bank . the bank was listed on the nasdaq global market gflb on december 5 2007 and joined the american bankers association community bank index in june 2008 . at the end of 2009 it was the 11th largest south florida based bank by assets . 1 as of april 13 2010 according to a consent order filed with the federal deposit insurance corp. the bank is required to raise additional capital . 2 on january 31 2014 weston based florida community bank acquired great florida bank elevating its status to the fourth largest bank headquartered in florida with about 5 billion in assets and more than 60 locations along both florida coasts and in the orlando area . 3 contents 1 history 2 bank operations 3 acquisition 4 references 5 external links history edit m. mehdi ghomeshi who began his banking career with barnett bank until its sale to nationsbank in 1998 founded great florida bank in 2004 . in december 1998 ghomeshi became president and a director of bankunited fsb and served in that capacity until april 15 2001 when he became executive vice chairman . ghomeshi left bankunited in november 2002 . bank operations edit the bank operates twenty eight solution centers located throughout miami dade broward and palm beach counties . great florida bank participates in the fdic s temporary liquidity guarantee program which provides unlimited federal deposit insurance corporation fdic coverage on all non interest bearing transaction account balances through december 31 2009 . in 2004 great florida bank opened in downtown miami and continued its expansion out of miami area in 2005 and 2006 when it opened several locations in south florida . however in 2006 the bank was served with a fdic cease and desist order citing unsafe and unsound banking practices and violations of the bank secrecy act ; 4 notwithstanding the cease and desist order the bank was successfully listed on the nasdaq global market on december 5 2007 . the fdic order was lifted in march 2009 . 4 in 2008 the bank opened seven new outlets in south florida giving the bank a total of 28 centers in that area . great florida bank joined the american bankers association community bank index in june 2008 . great florida bank surpassed 1 billion in assets after only eighteen months in operation ; at the time that made it one of the fastest growing de novo clarification needed institutions in the country . as of 31 march 2009 the bank operated 28 outlets located throughout miami dade broward and palm beach counties ; total assets were 1.7 billion tier 1 capital was 131 million and the tier 1 leverage ratio was 7.4 % 48 % above the federal regulatory definition of a well capitalized bank . in january 2010 nasdaq informed the miami lakes based bank nasdaq gflb that its common stock traded below the required level for 30 consecutive business days and warned of a possible delisting if the share price continued to trade below the 1.00 threshold . the company s shares traded at 2.29 on 27 january 2009 and hit a 52 week low of 0.49 on 31 december 2009 . 5 as of 31 march 2010 the bank was out of compliance with its capital ratios which were 5.55 % for tier 1 leverage capital ratio and 10.6 % for total risk based capital ratio . on 13 april 2010 the bank signed a consent order with the fdic requiring it to increase its tier 1 leverage capital ratio to 8 % and a total risk based capital ratio of 12 % within 120 days . 1 still faced with capital adequacy pressures the bank failed to meet its deadline from its regulators to raise capital by november 2010 . 1 acquisition edit on january 17 2014 florida community bank received regulatory approval from the office of the comptroller of the currency to acquire great florida bank . m. mehdi ghomeshi president and chief executive officer of great florida bank said this merger is a win for our stockholders customers and banking franchise . this business combination significantly enhances our combined abilities to be one of the financially strongest and most competitive community banking organizations in florida . we are confident that this merger is a highly attractive strategic alignment for all of our constituents . 6 florida community bank acquired great florida bank effective as of the close of business on january 31 2014 . 7 references edit a b c d brian bandell april 29 2010 . great florida bank narrows losses . south florida business journal . retrieved march 10 2011 . cite error invalid ref tag ; name sfbj20100426 defined multiple times with different content see the help page . pdf http assets.bizjournals.com cms media southflorida pdf great % 20florida % 20bank % 20order % 20final.pdf . missing or empty title help florida community bank competes acquisition of great florida bank . miami herald . january 31 2014 . a b brian bandell march 10 2009 . regulators lift great florida bank order . south florida business journal . retrieved march 10 2011 . great florida bank warned by nasdaq . south florida business journal . january 12 2010 . retrieved march 10 2011 . florida community bank n.a. receives regulatory approval to acquire great florida bank . . yahoo news . january 17 2014 . florida community bank na completes acquisition of great florida bank and announces 4th quarter net income of 6.9 million . yahoo news . january 31 2014 . external links edit official web site retrieved from https en.wikipedia.org w index.php title great florida bank & oldid 638390461 categories banks based in floridabanks established in 2004companies based in miami dade county floridahidden categories pages with reference errorspages with duplicate reference namespages with citations lacking titlespages with citations having bare urlsuse mdy dates from march 2011orphaned articles from january 2011all orphaned articleswikipedia articles needing clarification from july 2009 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 16 december 2014 at 19 13 . text is available under the creative commons attribution sharealike license ; 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