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Ocean Bank announced today total assets of $4.3 billion at June 30, an increase of 11.2 percent from December 31, 2018 and 14.4 percent above June 30, 2018.
Equity capital increased to $475.4 million, a 5.6 percent increase over year-end 2018 and 6.5 percent above June 30, 2018.
The bank reported net income of $18.1 million for the six months ended June 30 and $8.0 million in the quarter.
Agostinho Alfonso Macedo, President and CEO of Ocean Bank attributed the increases to continued solid loan production and strong net interest income, which reached $74.4 million for the six months.
At June 30, the Bank’s Tier 1 Leverage Ratio was 10.73 percent and the Total Capital Radio was 14.47 percent.
About Ocean Bank
Ocean Bank is the largest independent, state-chartered commercial bank headquartered in Florida. Chartered in 1982, Ocean Bank operates its 23-branch network throughout Miami-Dade and Broward counties. The community bank has received numerous awards and accolades from the Greater Miami Chamber of Commerce, The Beacon Council and the Florida Department of Education, among others, for its support of our South Florida communities. For more information, log on to www.oceanbank.com.
Cheryl Rees Ocean Bank (305) 569 - 5029 Crees@oceanbank.com Ray Casas Wragg & Casas (305) 372-1234 firstname.lastname@example.org