CIBC expands presence in Palm Beach County

Opens new financial center with full-service banking capabilities in Palm Beach

CHICAGO, May 16, 2023 /PRNewswire/ - CIBC today announced the opening of its newest financial center in Palm Beach, Florida. The new location at 340 Royal Palm Way is a full-service banking center as well as office space for CIBC's US private banking, private wealth and commercial banking professionals to meet with clients.

"We are pleased to expand our ability to help make our clients' ambitions a reality by adding banking services to our existing private wealth capabilities in Palm Beach County," said Daniel E. Sullivan, Jr., managing director and head of private and personal banking for CIBC US. "Our new Palm Beach location provides comprehensive banking services to our clients while allowing us to deliver more of CIBC to them through collaboration with our wealth management and commercial banking colleagues. With our wealth management office in West Palm Beach and our new banking services in Palm Beach, we are better positioned to meet the financial needs of the growing Palm Beach County community."

Clients will have access to a wide range of deposit products at this new location, including checking, savings, money market accounts and certificates of deposits. Additionally, the branch will offer consumer and business loans, as well as mortgages, and will be staffed by on-site private banking specialists, underwriters, and client service and relationship managers.

With the new banking location, CIBC also will deliver banking solutions designed for low-and moderate-income residents and small businesses, as well as investments in economic development initiatives. They have provided a $5 million investment in the Community Reinvestment Fund which works to provide funding for affordable housing projects, including the Marina Bay Apartments, a 192-unit facility that will create affordable housing options in Palm Beach County. Additionally, CIBC will provide $70,000 in grants as part of its Affordable Housing and Entrepreneur Training programs.  

"We are committed to providing exceptional service and tailored solutions to meet the unique financial needs of each client," said Sullivan. "Our commitment to Palm Beach County takes into consideration the range of banking needs for individuals, families and businesses of all sizes."

CIBC is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. CIBC offers a full range of advice, solutions and services in the United States, across Canada and around the world. In the US, CIBC Bank USA provides commercial banking, private and personal banking and small business banking solutions and CIBC Private Wealth offers investment management, wealth strategies and legacy planning. Visit us at cibc.com/US.

SOURCE Canadian Imperial Bank of Commerce