Longtime Miami Banker Michael Teproff Retiring
His 50-year career was witness to drastic changes in the banking industry, from watching big banks swallow community banks, the loss of jobs that followed, numerous technological changes, and increased regulatory requirements.
"It was with great regret that we accepted Michael's resignation. After all, he has been with Marquis Bank since it was founded more than ten years ago and his outstanding contributions are reflected in the tremendous success and growth of the bank. We wish him the best in his retirement,"
Teproff's banking career took off after graduating with an accounting degree from Boston University.
"The pay was only about $6,000 a year, but I was thrilled to have my first job. With my new banking experience under my belt, I was hired a year later in Miami as a teller at City National Bank. Over a six-year period, I transitioned into the role of internal auditor and my career evolved from there. My accounting degree got me into banking, but most of my banking knowledge has come through 'learn-on-the-
His career spanned several South Florida financial institutions, including Jefferson Bancorp for 17 years and Bank of Coral Gables, where he served as senior vice president and controller.
Through the years Teproff witnessed drastic changes in the industry, from watching big banks swallow community banks and the loss of jobs that followed, numerous technological changes, and increased regulatory requirements. Some changes brought challenges, some made tasks smoother.
"New technology made my job on the accounting side easier. Of course, it was a challenge to learn new programs and systems. But along with the good came all the risks associated with cyber security and the security of wire transfers," he said. "Notably, increased regulatory requirements have complicated the bank controller's job."
Teproff plans to stay active in accounting with consulting work and spending time with his grandchildren and traveling.
Marquis Bank, with more than $580 million in assets, is a full-service community bank dedicated to serving business owners, professionals and investors. Marquis has successfully blended convenient state-of-the-
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