Lloyd DeVaux has been sworn in as chair of the Florida Bankers Association (FBA) and will serve a one-year term that runs through June 2020. DeVaux is president and chief executive officer of Sunstate Bank in Miami and has more than 25 years of banking experience.
“I am certain that Lloyd will do an excellent job in this critical role,” said FBA president and CEO Alex Sanchez. “He is a respected banker and has been engaged with the FBA for a many years and in a variety of roles. The FBA staff and I look forward to working with him this year.”
DeVaux has been active with the FBA in a number of capacities, including service as FBA chair-elect, as chair of BancServ Inc. and as a member of the FBA Board of Directors, the Executive Committee and the Audit Committee. While serving as chair-elect during the 2018-19 association year, DeVaux participated in leadership and legislative events hosted by the FBA, engaged in grassroots lobbying in both state and federal bodies, attended meetings of the association’s board and led Government Relations Council meetings.
“I am honored to have been chosen to serve the Florida Bankers Association in this role and I look forward to serving as chair. It’s humbling for me and a great honor,” DeVaux said. “During my year as chair, I expect for certain issues to be at the fore, including Community Reinvestment Act reform, Bank Secrecy Act reform, marijuana banking and unreasonable tax exemptions for credit unions. I believe that we have to fight for our industry and I look forward to the challenge.”
DeVaux holds a Master of Business Administration degree from Rollins College and earned a Bachelor of Science degree in electrical engineering from the University of Buffalo while attending school on a basketball scholarship. He also graduated from Harvard Business School’s OPM Executive Program and the BAI Graduate School of Banking in finance.
In addition to his involvement with the FBA, DeVaux has been involved with and often chaired a number of organizations, including the President’s Leadership Council at Rollins College, the board of the Dellenbach Foundation, MADD Florida, the Cornerstone Committee for St. Katherine Drexel Catholic Church, the YMCA of Broward County Board and its Executive Committee, the West Broward YMCA Board and Chair, the American Heart Association Heart Walk and the United Way Ambassadors Board.
DeVaux will be followed by FBA chair-Elect Greg Nelson, president and CEO of United Southern Bank, who will serve a term as FBA chairman in 2020-21.
The Florida Bankers Association (FBA) is the voice of Florida’s banking industry, which is composed of small, regional and large financial institutions that together employ tens of thousands Floridians, safeguard more than $500 billion in deposits and extend more than $135 billion in loans. Established in 1888, the FBA is one of Florida’s oldest trade associations; its members hold more than 90 percent of the state’s deposits.