Why Canadian Banks Are Invading South Florida

MIAMI—If you look around, you’ll notice TD Bank stores springing up on many prime commercial real estate corners. And it’s not just TD Bank—other Canadian banks like Bank of Montreal, are also beefing up their presence in southern Florida.

“A significant draw for Canadian banks is the international exposure that South Florida offers,” Frank Gonzalez, CPA/CFF, principal-in-charge of the Audit Department and head of the Financial Institutions and SEC practices at MBAF in Miami, tells GlobeSt.com. “Many Canadian banks want to not only deal domestically as a community bank, but also take advantage of the intentional trade and business that is available through South Florida.”