Banco Sabadell said late on Tuesday it had agreed to sell its Florida-based retail banking unit to Iberiabank Corp for $1 billion, leaving it with corporate and private banking operations in Miami. Banco Sabadell has agreed to sell its retail banking operations in Florida to Spain - based Iberiabank Corp for $ 1bn , according to a company representative to Spain 's stock market regulator . The deal is set to close in December 2017 , and should generate a net capital gain of € ##500 m ( $ 473 m ) for Sabadell , which will take a maximum 4.9 % stake in Iberiabank .
Banco Sabadell has agreed to sell its retail banking operations in Florida to Spain - based Iberiabank Corp for $ 1bn , according to a company representative to Spain 's stock market regulator . The deal is set to close in December 2017 , and should generate a net capital gain of € ##500 m ( $ 473 m ) for Sabadell , which will take a maximum 4.9 % stake in Iberiabank .