Terms & Conditions - Coral Gables Trust Company
Terms & Conditions

CGTC Terms & Conditions

We are committed to safeguarding assets through regulatory oversight, external audits, trusted partners, ownership, insurance coverage,  and capital requirements.
Safeguarding Your Assets
We are committed to safeguarding our clients' assets. Our success is demonstrated by the positive results achieved by thorough regulatory oversight, external audits, trusted partners, active ownership, comprehensive insurance coverage, and fulfillment of capital requirements.
Regulatory Oversight
As a state chartered bank, we are licensed and regulated by the Florida Office of Financial Regulations. Florida bank examiners conduct regular examinations which include reviews of our operations, internal controls, audits, compliance activities, account administration, asset management, and financial results and trends.
External Audits
A qualified independent accounting firm conducts an annual audit that includes a review of all our account administration and asset management activities, and our financial statements. The audit is then reviewed by the directors, who address any areas that need improvement. The audit report and description of resulting actions taken by the Board of Directors are filed with the Florida Office of Financial Regulations.
Trusted Partners
We are required to keep our clients' assets separate from those of our corporation. Clients' assets are in custody at Depository Trust Company (DTC) and the Federal Reserve through a sub-custodian arrangement with Reliance Trust Company in Atlanta, Georgia, or held by a third-party custodian chosen by an individual client's investment advisors. Reliance is the largest independent trust company in the United States. DTC is the largest securities custodian in the world and provides services to most of the financial services companies in the United States.
Active Ownership
A large percentage of our stockholders are also clients. Each director on our board and all senior officers of the company are clients. Directors serve on every committee, some of which meet weekly. They provide oversight and guide daily operations.
Comprehensive Insurance Coverage
The State of Florida requires state chartered trust companies to carry adequate insurance protection. Our coverage includes:
Professional Liability (Trust Errors and Omissions)
Financial Institution Bond
Directors and Officers Liability
Capital Requirements
We maintain a capital balance that exceeds the capital level required by the State of Florida for trust companies. Because the state monitors that capital and how it is invested, we file quarterly reports detailing our capital and our financial results.

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