business

Professional Bank cuts ties with Trump after Capitol riots

A third bank is severing financial ties to President Trump in the wake of the deadly Capitol riot he incited last week.

Florida-based Professional Bank “has decided not to engage in any further business with the Trump Organization and its affiliates, and will be winding down the relationship,” the company told The Post in a statement, referring to the president’s real estate firm.

The decision came after Deutsche Bank and New York-based Signature Bank said they would end their financial relationships with Trump after he encouraged a crowd of supporters to storm the Capitol on Jan. 6.

Signature also urged the president to step down for his role in the insurrection that left five people dead including a police officer.

Professional Bank gave Trump an $11 million mortgage in 2018 to buy his sister’s Palm Beach, Florida home across the street from his Mar-a-Lago club, according to Bloomberg News, which first reported on the bank’s decision.

The loan carries a 4.5 percent interest rate and will mature in 2048, Trump’s 2020 financial disclosure form shows.

Trump’s revocable trust also has a money-market account with Professional Bank that holds between $5 million and $25 million, according to the July 31 disclosure filing.

Trump has financial relationships with other banks including Wall Street giants Capital One and JPMorgan Chase, the filing shows. Capital One and JPMorgan haven’t said whether they will keep doing business with him, Bloomberg reported.

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