Abel Holtz, a Miami banker, has been elected chairman and president of Hemisphere National Bank in the District.
Holtz, 46, was elected to the top executive positions at Hemisphere after the Comptroller of the Currency had approved his purchase of 34 percent of the bank's stock, giving him controlling interest.
Holtz is chairman and president of Miami's Capital Bank, which has assets in excess of $325 million.
Holtz was born in Cuba but emigrated to the United States 20 years ago. In 1974, the same year Hemisphere opened as the District's only Hispanic-controlled bank, Holtz founded Capital Bank.
Control of Hemisphere, the District's 14th largest bank, had been in question the past year. At least two groups of investors had tried to acquire control of the bank before Holtz reached an agreement to purchase more than 53,000 shares, at $32 each.
The stock was sold to Holtz by a group that included former chairman and president Levio Sanchez, and Washington construction company owner Angel Roubin.
During negotiations for sale of Hemisphere's stock by previous majority owners, minority investors in the bank had expressed a strong desire to see control of the bank remain in the hands of the Hispanic community.