Ocean Bank has announced plans to open its first Palm Beach County branch in Boca Raton, located across the street from the Boca Raton Museum of Art. The bank, which now has 24 branches — 23 in South Florida and one in Orlando — plus two wealth management offices, is the largest state-chartered commercial bank headquartered in Florida, with $6.6. billion in assets.
“The economy of Boca Raton is blooming. Our loan production activities in the region have been phenomenal, and we’re very excited to make a solid commitment to Ocean Bank’s future in Palm Beach County,” said Ocean Bank President, Chairman and CEO Agostinho Alfonso Macedo.
“We’ve had an eye on Boca Raton for several years, handling mostly commercial real estate lending from our main office in Miami. We are expanding, with a full-service branch, commercial and retail lending and full banking products and services, including our full suite of digital banking.”
Dhaanwatie (Pavo) Bhagwandin, who joined Ocean Bank in 2022 and has 15 years of experience serving clients in the Boca Raton area, was named vice president and general manager of the new office.
Ocean Bank’s journey reflects an entrepreneurial spirit and an unwavering commitment to customer service. Starting 42 years ago in a double-wide trailer on Miami’s LeJeune Road, the bank now serves the children and grandchildren of its earliest customers who have remained loyal through the years.
Driven by the belief that banking goes beyond cash flow projections and credit checks, Ocean Bank is committed to building community by investing in people and placing high value on character and work ethic.
“We are very confident in the prospects that Boca Raton offers and are committed to serving the people of this community,” Alfonso Macedo added.
For more information, visit oceanbank.com.
Photo courtesy of Ocean Bank
Ocean Bank Boca Raton Branch