The Loan Committee™

City National Bank of Florida has provided a $22 million loan to The Ireland Cos. for the renovation of a shopping center in Davie. The property is located at the southwest corner of University Drive and Interstate 595. The shopping center is undergoing construction to welcome two new anchor tenants: Hobby Lobby and Whole Foods.  Source.  REBusiness Online

STONEGATE BANK took its first step toward moving its stock to the NASDAQ exchange.  The Pompano Beach-based bank (OTCBB: SGBK) filed a Form 10 registration statement with the Federal Deposit Insurance Corp. to become a regularly reporting company. Read entire article… Author: Brian Bandell.  Source.  South Florida Business Journal.

It can be lonely out there for a Bitcoin aficionado, especially for a banker.  Ask Alan Lane. In October, the president and CEO of Silvergate Bank in La Jolla, Calif., was up in Sacramento for a roundtable convened by the California Bankers Association and the state’s Department of Business Oversight. Reading a laundry list of about a dozen issues on the department’s radar, Commissioner Jan Lynn Owen mentioned Bitcoin — the Internet currency, payment system and technology that’s been grabbing headlines, igniting controversy and inspiring innovation across the globe. Lane pricked up his ears, in part because the $616 million-asset Silvergate had been in discussions about banking a Bitcoin startup.

“I raised my hand and I said, ‘Is anybody else talking with any potential Bitcoin customers?’ There were a lot of blank stares around the room,” Lane recalls. “A lot of the bankers hadn’t heard of it. … One guy, I don’t remember who it was, said, ‘I think they ought to outlaw it.'”Lane’s reply:  “Well, if they outlaw it, I’m going to lose about $1,200 because I just bought 10 bitcoin.” Later, he says, another banker friend teased him, “Uh oh, Alan, you shouldn’t have said that. You just put a target on yourself with the regulators.”  Read entire article…. Author:  Marc Hochstein.  Source:  American Banker.

Join The Loan Committee and the Commercial Finance Association on Tuesday, March 11, 2014 at the Lauderdale Yacht Club for a presentation by Ms. Cynthia Lucas with Engineered Tax Services.  Ms. Lucas will discuss Cost Segregation & Section 179D Federal Energy Tax Deduction.

Engineered Tax Services (ETS) has been at the forefront of the energy tax accreditation for EPAct and 179D related tax benefits.  ETS has performed over 10,000 Section 179D Energy Tax Studies since 2006 working closely with CPA Firms, Property Investors, Architects, Engineers and Energy Consultants.  Find out more about the March 11th presentation here.