GROVE BANK & TRUST CELEBRATES 100 YEARS IN MIAMI-DADE COUNTY

Founded in Coconut Grove in 1926, Miami-Dade’s longest-running bank marks its Centennial by continuing to give back to the community where its story began

When Grove Bank & Trust opened its doors on July 12, 1926, Miami was a young city in the midst of an extraordinary period of growth. Just weeks later, the Great Miami Hurricane devastated South Florida, bringing the region’s real estate boom to a sudden end.

The young bank survived.

One hundred years later, Grove Bank & Trust remains headquartered in Coconut Grove and is Miami-Dade County’s longest-running bank. On Wednesday, September 23, approximately 200 guests gathered at Amal in Coconut Grove to celebrate the milestone.

A Bank That Grew With Miami

Grove Bank & Trust’s history is closely intertwined with Miami’s development. Over the decades, the bank has worked alongside generations of families, businesses and institutions as South Florida evolved from a small emerging community into an international city.

During the 1930s and 1940s, the bank financed emerging local businesses, including Ryder Trucks, which would go on to become a national leader in transportation and logistics. The bank also became an early provider of home-construction financing, helping families build homes and pay over time as Miami continued to expand.

During the Depression years, Grove Bank & Trust helped support the University of Miami’s recovery, and as Miami’s economy grew, the bank helped finance the historic dredging of the Port of Miami and other infrastructure projects throughout Miami-Dade County.

“When you look at Grove Bank & Trust’s history, you see many of the milestones that helped make Miami what it is today,” said Sheldon T. Anderson, Chairman of the Board of Grove Bank & Trust. “We have had the privilege of working alongside generations of families, entrepreneurs and community leaders who believed in this city and invested in its future.”

Giving Back Where It All Began

As part of its longstanding commitment to service and community stewardship, Grove Bank & Trust presented a $10,000 check to The Barnyard during the Centennial celebration, reinforcing its dedication to making a lasting difference in the communities it calls home. 

Located in West Coconut Grove, The Barnyard Community Center, operated by Coconut Grove Cares, provides free after-school and summer programs for children ages 5 to 13. Its programs include academic support, literacy, arts and culture, science, fitness and other enrichment opportunities.

 “For 100 years, Grove Bank & Trust has been fortunate to grow alongside Miami,” said Jose E. Cueto, President and Chief Executive Officer of Grove Bank & Trust. “We have seen this city evolve from a small, emerging community into one of the world’s most dynamic and diverse cities. Throughout that journey, our commitment has remained the same: to build relationships, support our clients and contribute to the communities we call home. What better way to celebrate 100 years than by investing in the children and families who represent Miami’s future?”

“Coconut Grove has always been more than the place where our headquarters is located—it is part of our identity,” said Edward Joyce, Executive Vice President and Director of Wealth Management at Grove Bank & Trust. “Supporting The Barnyard is a natural extension of our Centennial celebration. We want to honor the community that has supported us for 100 years by helping create opportunities for the next generation.”

Today, Grove Bank & Trust remains headquartered in Coconut Grove, with banking centers in Coral Gables, South Miami, Palmetto Bay and Aventura. The bank provides personal and business banking, international banking, commercial real estate financing, trust and estate services, and wealth management.

About Grove Bank & Trust

Founded July 12, 1926, in Coconut Grove, Grove Bank & Trust is Miami-Dade County’s longest-running bank. Headquartered in Coconut Grove, the bank provides personal and business banking, international banking, commercial real estate financing, trust and estate services, and wealth management to individuals, families, businesses and community organizations across South Florida. Member FDIC. Equal Housing Lender. NMLS# 405548.

About Coconut Grove Cares and The Barnyard

Coconut Grove Cares is a 501(c)(3) nonprofit founded in 1948 by Elizabeth Virrick and Father Theodore Gibson. The organization operates The Barnyard Community Center in Coconut Grove’s Village West, which provides free after-school and summer programs to children ages 5 to 13.

Photo credit: EDDIE