The Florida Department of Banking and Insurance is preparing to begin liquidating a variety of its bank branches, including all three branches of the Boscovs department store and all three stores at the Floridian Bank branch at Miami Beach.
The banks will have to close all branches of their businesses in order to make room for the government to open them, according to a statement from FDIC Commissioner Scott G. Fink, who also confirmed that all branches will be closed on March 5.
“In the past, FDIC has been able to open a number of FDIC branches with just the necessary permits and permits are no longer needed,” Fink said.
“These closures will not affect FDIC operations, but we anticipate these changes will have an impact on our ability to provide essential services to our customers.”
The bank branch closures come a day after a bankruptcy filing by Boscos’ branch at the Miami Beach branch of FDID.
The bankruptcy filing also included the liquidation of the Broward County branch of the same FDIC, which is not connected to the Biscovs.
Fink said that the FDIC was not notified of any changes to the banks’ liquidations plans.
FDIC is not the only entity that is being forced to close branches at this time, according the FDICA website.
The banks announced they would close branches of each of their own banks on Tuesday, but did not provide an exact count of the locations where they were closing branches.
The FDIC did not immediately respond to a request for comment.
FDICO has been unable to find any bank closures in Florida that are tied to a particular business, according its website.FDIC announced that it would begin closing all branches on April 30, 2018, but it did not say which banks would close at that time.
Fisk said he is not aware of any banks in Florida which are not connected with the BISCOVs.
Fisk said FDIC had not been notified of specific bank closures and that FDIC’s staff will continue to work as needed to make sure the banks are open.FDICA also announced a number new bank closures on Wednesday.
The agency announced that all four branches of Biscos would be closed at the Boca Raton branch of Citibank on March 4, the Miami-Dade branch of Bocas International on March 8, the Tampa branch of American Express on March 9 and the Brickell branch of Bank of America on March 11.