Banesco USA entered into an agreement to acquire Brickell Bank from Banco Espírito Santo, S.A. (OTCPK:BKES.F) on May 14, 2019. At closing of the acquisition, Brickell Bank will be merged into Banesco USA, and the resulting institution will be Banesco USA. The transaction is subject to regulatory approval. On August 20, 2019, the transaction was approved by Federal Deposit Insurance Corporation and the Florida Office of Financial Regulation. Avila Rodriguez Hernandez Mena & Ferri LLP served as legal advisor to Banesco USA and Shutts & Bowen LLP served as legal advisor to Brickell Bank.