Banesco USA Expands Tampa Banking Operations With New Hires
Tampa-based business owners should expect increased commercial lending competition as the bank scales its local regional team.
Updated on Oct. 30, 2026 in People
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Banesco USA is expanding its regional footprint in Tampa Bay with the appointment of three new executives to local leadership roles. The move follows the bank's integration of a national SBA lending business acquired from BayFirst Financial Corp.
Why it matters
The executive appointments and recent acquisition of a $95 million loan portfolio signal a transition from a centralized lender to a localized community banking franchise in Tampa. This expansion increases local competition among commercial lenders as Banesco scales its regional presence.
Banesco USA manages $5.9 billion in assets as of June 2026 and operates six banking centers. The firm recently scaled its workforce by integrating 50 professionals following the acquisition of $95 million in SBA loan balances and $1.5 billion in servicing rights.
The players
Banesco USA
A financial institution based in Miami with $5.9 billion in assets that focuses on commercial lending and community banking.
Teresa Stinson
A newly appointed member of the Banesco USA board of directors.
David Moore
The new senior vice president and Tampa Bay market executive at Banesco USA.
Henry Gonzalez III
The newly named Hillsborough market executive at Banesco USA.
BayFirst Financial Corp
A St. Petersburg-based financial services company that sold its SBA lending business to Banesco.
The details
Banesco USA is leveraging its December 2025 acquisition of BayFirst Financial Corp’s SBA division to pivot toward a community-focused strategy. By installing dedicated market executives for Tampa and Hillsborough, the firm aims to coordinate its new commercial real estate and SBA lending staff. This shift allows the bank to leverage its $5.9 billion balance sheet to capture local loan volume while decentralizing its previous Miami-centric operational model.
Timeline
2006: Banesco USA was founded.
December 2025: Banesco closed the acquisition of the SBA lending business.
June 2026: Banesco USA reported $5.9 billion in assets.
October 28, 2026: Banesco announced the new executive appointments.
Market Landscape
The expansion follows the December 2025 acquisition of BayFirst Financial Corp's SBA lending business. This move mirrors an industry trend where banks scale regional operations by absorbing specialized lending units to broaden their community footprint.
Local operators should watch for changes in credit accessibility as Banesco integrates its new commercial lending team in Tampa. Businesses seeking SBA or commercial real estate financing may see increased competition from the expanded bank franchise in the coming quarters.
The takeaway
The bank is transitioning from a centralized model to a local franchise, a move requiring deep integration of its newly acquired lending staff. Operators should monitor the firm’s loan performance metrics in the next quarterly filing to gauge the success of its regional pivot.
Further reading
For broader coverage of shifts in regional leadership, see our People section.
Source note: This article includes information reported by Business Observer.
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