Florida Banking February/March 2026

Anchor Bank A Story of Resilience, Growth and Community-Focused Leadership By Suellen Wilkins, Director of Marketing & Communications

W hen Anchor Bank opened its doors in 2005, its founders envisioned a legacy community bank rooted in Palm Beach County — a bank built on relationships, stability and local decision-making. But like many small financial institutions, Anchor soon faced a test it never expected: the 2009 financial crisis. What followed is a story not of collapse, but of revival. And at the center of that transformation are three leaders — President & CEO Nelson Hinojosa, Senior Vice President Barbara Moore and CFO Brian Cole — who navigated turmoil, seized opportunity and built a bank aiming to surpass the billion-dollar mark. A Legacy Disrupted – and a Turning Point When the crisis hit, Anchor struggled to recover. Classified loans mounted. Capital deteriorated. Several potential buyers conducted due diligence, only to walk away. The bank’s future looked uncertain — until a new name emerged: Nelson Hinojosa. Moore remembers the day Hinojosa arrived for his first in-person look at the books. “He came in by himself — no team, no consultants — and went through everything,” she recalls. “He interviewed every employee, reviewed every file. He didn’t just bring a vision; he brought a plan.” That plan became known internally as The Anchor Equation – a 1,000-day roadmap to restore the bank to safety and soundness. A countdown clock appeared on every employee’s monitor. Each morning, the team saw the number of days remaining in the turnaround. They beat their deadline ahead of schedule. For Hinojosa, who had spent over 20 years leading his family’s financial services group in Bolivia, Anchor represented more than a business opportunity. It was a strategic move to diversify against political risk in South America — but once he stepped into the CEO role, it quickly became far more than that. “I didn’t know Palm Beach. I didn’t know anybody here,” he says. “I thought the real challenge would be fixing the bank. But once we restored it, I realized the bigger challenge was just beginning — how to grow it.” A New Vision, A New Market As the leadership team looked ahead, they found opportunity in Palm Beach County’s fast-growing

and often overlooked Hispanic business community. Roughly a quarter of the county’s population is Hispanic, with even higher concentrations in Broward and Miami Dade. Yet few community banks were prepared to serve

these entrepreneurs with cultural fluency. Nelson was determined to change that.

“As the first Bolivian to lead a U.S. bank and the only Hispanic bank president in the county, I understood the barriers — language, cultural expectations, even misconceptions about debt,” he says. “We wanted to be the bank that meets customers where they are.” The bank began hiring bilingual lenders, implementing WhatsApp communication lines at every branch and spending time educating customers about formal financial documentation, credit and growth. These weren’t simply banking transactions — they were trust-building exercises. “We don’t just lend,” Nelson explains. “We counsel. We sit with clients and talk about their business model, their next steps and how financial tools can help them grow.” Challenge, Resilience and a High-Stakes Merger Just as the bank’s expansion strategy gained traction, two unexpected events struck: Hinojosa suffered a serious horseback riding injury and the COVID-19 pandemic hit shortly after. Yet even during his recovery, opportunity found its way in. A small institution in Broward County — Home Federal Bank — was seeking a merger partner. Home Federal had weathered its own share of challenges and for CFO Brian Cole, who had been with the bank since 1998, the lack of management support from ownership had left the institution stagnant. “We were treading water,” he admits. “Shrinking capital, no growth — we needed a partner.” The merger was unusual in several ways: a small bank acquiring another small bank, during a pandemic, amid a near nationwide freeze in M&A activity. Regulators had questions. So did Home Federal’s employees. And just weeks before approval, Anchor’s CFO departed for another opportunity. Nelson approached Cole about joining Anchor’s team — but he wasn’t yet convinced the merger would be approved. He ultimately declined the offer.

6 | FLORIDA BANKING