Anchor Bank signs merger agreement with Home Federal Bank of Hollywood

By Pavithra R

Anchor Bank, a Palm Beach Gardens-based community bank on a mission is to provide quick, flexible, customized and personal financial solutions to customers has announced entering into a merger agreement with Hallandale Beach-based Home Federal Bank of Hollywood. The transaction is subject to regulatory approvals and conditions. 

“This is an exciting step for Anchor Bank as it allows us to continue developing our 1800-day Strategic Plan, ‘Factor 10.’ The merger with Home Federal accelerates Anchor’s landing in Broward and strengthens its presence in the three counties, Palm Beach, Miami-Dade and now Broward. It is an excellent fit since there is no overlap of market areas and banking centers,” said Nelson Hinojosa, CEO of Anchor Bank. 

Founded in 2005, Anchor bank’s focus is on providing exceptional service to individual, professionals, small and medium-sized businesses. The Bank is a privately held community bank offering a full range of commercial and consumer banking services that include; demand accounts, interest-bearing checking accounts, certificates of deposit and money market accounts, night depository, individual retirement accounts, debit cards and merchant bank card services. Upon the closing, Home Federal Bank of Hollywood’s one location at 900 North Federal Highway in Hallandale Beach will be rebranded as Anchor Bank. 

“We’re looking forward to the integration of Home Federal Bank of Hollywood into the Anchor Bank brand. This merger will provide additional locations and convenience for our customers,” said Scott F. Rosenberg, CEO Home Federal Bank of Hollywood.

Founded in 2008, Florida based Home Federal Bank of Hollywood offers a full array of banking services that include business and personal checking accounts, money market accounts, certificates of deposit, and savings accounts. As a portfolio lender, the bank offers home loans, multi-family loans, commercial real estate collateralized loans, business loans, personal loans, and lines of credit. It has $58 million in assets.