Reid Mack
Encyclopedia
Reid Mack is a commercial banker and financier
based in Miami, Florida. He is most known for his acquisition of corporate names associated with Barnett Bank
, which was once the largest commercial bank in Florida.
Mack received a bachelor's degree in Economics from the University of Miami
and was a commercial lender with the Bank of Florida
. In July 2000, he acquired the rights to the corporate names of the Barnett Mortgage Company, Barnett Lending Services and Barnett Credit Services following Bank of America
's failure to renew the names with the Florida Department of State. He reportedly paid $70 to secure each name.
He explains the move: "Barnett for over 100 years had been trying to make this name into something recognized and respected throughout Florida. I thought there was still some intrinsic value left." The Bank of America
pursued legal action against his claims.
In 2001, as director of Jackson, Stone & Steinam and A-1 Security Finance, Mack led investor efforts to acquire shares of Hamilton Bancorp through a mini-tender offer
.
Mack is currently the Managing Director at Jackson, Witter & Associates and Director of the Business Plan Institute.
Financier
Financier is a term for a person who handles typically large sums of money, usually involving money lending, financing projects, large-scale investing, or large-scale money management. The term is French, and derives from finance or payment...
based in Miami, Florida. He is most known for his acquisition of corporate names associated with Barnett Bank
Barnett Bank
Barnett Bank, founded in 1877, eventually became the largest commercial bank in Florida with over 600 offices and $41.2 billion in deposits. The purchase by NationsBank was announced August 29, 1997, but even before signs on Barnett's branches were changed, NationsBank merged with BankAmerica in...
, which was once the largest commercial bank in Florida.
Mack received a bachelor's degree in Economics from the University of Miami
University of Miami
The University of Miami is a private, non-sectarian university founded in 1925 with its main campus in Coral Gables, Florida, a medical campus in Miami city proper at Civic Center, and an oceanographic research facility on Virginia Key., the university currently enrolls 15,629 students in 12...
and was a commercial lender with the Bank of Florida
Bank of Florida
Bank of Florida had three wholly owned banking subsidiaries located in Florida. Bank of Florida Corporation operated as a holding company for Bank of Florida Southwest, Bank of Florida Southeast and Bank of Florida Tampa that provided commercial and consumer banking services in Florida...
. In July 2000, he acquired the rights to the corporate names of the Barnett Mortgage Company, Barnett Lending Services and Barnett Credit Services following Bank of America
Bank of America
Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...
's failure to renew the names with the Florida Department of State. He reportedly paid $70 to secure each name.
He explains the move: "Barnett for over 100 years had been trying to make this name into something recognized and respected throughout Florida. I thought there was still some intrinsic value left." The Bank of America
Bank of America
Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...
pursued legal action against his claims.
In 2001, as director of Jackson, Stone & Steinam and A-1 Security Finance, Mack led investor efforts to acquire shares of Hamilton Bancorp through a mini-tender offer
Mini-tender offer
A mini-tender offer is an offer to acquire a company's shares directly from current investors in an amount less than 5% of issued stock.-Subject to Only Some SEC Regulations:...
.
Mack is currently the Managing Director at Jackson, Witter & Associates and Director of the Business Plan Institute.