Four banks have reportedly severed ties with Donald Trump since the Capitol riots

News & Politics

At least four financial institutions have severed ties with former President Donald Trump since the Capitol riots, according to reports.

On Friday, Florida-based BankUnited announced it was ending its relationship with Trump, as reported by the Miami Herald. The Miami-area bank noted that Trump didn’t receive any loans from them.

“We never had a lending relationship with Donald Trump and we no longer have any depository relationship with him,” a bank representative said in an emailed statement.

Financial records reveal that Trump held two money-market accounts worth more than $5.1 million at BankUnited.

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Two weeks ago, Coral Gables-located Professional Holding Corp. announced that it would no longer furnish banking services to the former president or the Trump Organization.

“Professional Bank has decided not to engage in any further business with the Trump Organization and its affiliates, and will be winding down the relationship effective immediately,” Professional Holding Corp. spokesperson Eric Kalis told Fortune.

Professional Holding Corp. reportedly loaned $11.2 million to Trump’s family in 2018 to purchase a property next to Mar-a-Lago club in Palm Beach. The banking institution also held a money-market account valued between $5 million and $25 million in Trump’s name.

Less than a week after the chaos at the Capitol, two of Trump’s biggest lenders ditched him following the controversy. Frankfort-based Deutsche Bank, which has reportedly $340 million in loans outstanding to the Trump Organization, said they would no longer do business with the former president or his companies.

Christiana Riley, who is head of Deutsche Bank’s U.S. operations, issued a statement following the riots at the U.S. Capitol building.

“We are proud of our Constitution and stand by those who seek to uphold it to ensure that the will of the people is upheld and a peaceful transition of power takes place,” Riley wrote.

New York-based Signature Bank also ended its relationship with Trump. The banking institution closed two of Trump’s personal accounts worth approximately $5.3 million, according to Bloomberg, citing two people with knowledge on the matter.

Signature Bank also called for then-President Trump to resign before his term officially ended on Jan. 20.

“We believe the appropriate action would be the resignation of the president of the United States, which is in the best interests of our nation and the American people,” the bank said in a statement on Jan. 11. “We have never before commented on any political matter and hope to never do so again.”

The report also stated that Signature Bank would not do any business in the future with members of Congress who voted to not certify the Electoral College results.

Senate Majority Leader Schumer (D-N.Y.) said House Speaker Nancy Pelosi (D-Calif.) will deliver an article of impeachment against Trump to the Senate on Monday.

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