Grove Bank & Trust Announces Sheldon T. Anderson as Chairman & CEO

MIAMI, March 18, 2021 /PRNewswire/ -- Sheldon T. Anderson has been hired as Chairman and CEO of Grove Bank & Trust after serving as a member of the Board of Directors for the past five years. In this role, Anderson will oversee Grove Bank & Trust's boutique banking, lending, and comprehensive trust and wealth management across its offices in South Florida, including Aventura, Coconut Grove, Coral Gables, Palmetto Bay, South Miami, and Broward.

Anderson, a widely recognized community leader in South Florida, is the retired President and CEO of the Southeast Region for the Northern Trust Company, where he was responsible for investment management, trust and estate planning, private and business banking, and financial consulting in Florida and Georgia. He also led Southeast Bank as Senior Vice President of Corporate Banking.

According to Chairman of the Bank Holding Company Board Charles Stuzin, "We look forward to the expertise and deep community connections that Sheldon brings to this role. Much of the Bank's success can be attributed to its legacy of capable and caring leaders who believe in the potential of South Florida and we look forward to continue operating from the position of strength the Bank has enjoyed for almost 100 years."

Anderson is replacing Rick Kuci, who recently resigned and served as Chairman and CEO for the past 15 years.  "We wish Rick well in his future endeavors and thank him for his leadership. Grove Bank & Trust has enjoyed a banner year of double-digit growth in loans, deposits and assets under management," said Stuzin. Grove Bank & Trust continues to retain its strong capital and liquidity position and has one of the strongest capital ratios among banks in South Florida, placing it among the top 10% of banks nationwide (as of December 31, 2020).

"Any CEO is only as effective as the team around him and, in this new role, I look forward to working with the dedicated and talented team to continue Grove Bank & Trust's legacy of service for the next generation of South Florida banking customers," said Anderson.

Anderson sits on the Board of Trustees of Baptist Health South Florida, and the Board of Directors of United Way of Miami Dade County, U.S. Stem Cell, Inc., Miami Dade College Foundation, the New World Symphony, The Miami Foundation and the Beacon Council. He also serves on Board of Trustees at Carrollton School of the Sacred Heart and is a member of the Orange Bowl Committee.

ABOUT GROVE BANK & TRUST

Grove Bank & Trust, founded in 1926, is known for offering boutique banking, lending and comprehensive trust and wealth management services tailored to meet the needs of successful individuals and their families, as well as businesses, endowments and foundations. Financial strength and stability have been a Grove Bank & Trust hallmark. Locally owned and operated, Grove Bank & Trust has South Florida offices in Aventura, Coconut Grove, Coral Gables, Palmetto Bay, South Miami, and Broward.

MEDIA CONTACT: Christine Woll
(305) 808-4015
[email protected]

SOURCE Grove Bank & Trust