A third bank decided to cut ties with Trump and his organization after the storming of the Capitol

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A third bank decided to cut ties with Trump and his organization after the storming of the Capitol

Reuters

A third bank announced plans to cut ties with US President Donald Trump and his organization following riots in the Capitol last week.

The Florida-based Professional Bank, which earlier provided Trump with an $ 11 million mortgage loan, said it would not do any business in the future with the president or his organization, according to Bloomberg News.

And Bloomberg reported, citing a document issued in July, that Professional Bank was keeping up to $ 25 million in Trump’s money market account and paid about $ 1 million in interest for this year.

The bank did its first business with Trump in 2018, providing a mortgage loan when he bought his sister’s $ 18 million house in Palm Beach, Florida. The $ 11 million loan has an interest rate of 4.5 percent and matures in 2048.

Earlier, Bloomberg said that Deutsche Bank would not do any future business with Trump or his company, besides monitoring the repayment of current loans amounting to more than $ 300 million.

New York-based Signature Bank also announced that it would close Trump’s personal accounts, which total about $ 5.3 million, due to the “resentment and shock” that occurred after the Capitol riots.

Source: “The Hill”

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