OCEAN BANK
ANNOUNCES RECENT PROMOTIONS

Miami, FL – July 27, 2006 – Ocean Bank, the largest independent commercial bank headquartered in the state of Florida announces recent summer promotions. Promoted to senior vice presidents are Ignacio Diaz, Jr., Enrique A. Villaronga, and Rogelio M. Villarreal. Marta B. Concepcion and Rene F. Perez Forteza were promoted to vice presidents of the Bank.

Ignacio Diaz, Jr., SVP and Coral Way Branch Manager for Ocean Bank, manages the daily activities of the Bank’s branch and also oversees a commercial loan portfolio. He joined Ocean Bank in 1995 and was previously with Ready State Bank where he served as a vice president and branch manager. Diaz attended Newark State College in New Jersey.

As a SVP and Residential Lending Manager for Ocean Bank, Enrique A. Villaronga is responsible for the daily operations and management of the retail and wholesale areas of the Bank’s residential lending department. This includes production and servicing of all residential loans. Villaronga joined Ocean Bank in 1999 after spending 18 years as vice president and residential lending manager of Republic National Bank. He received an Associate in Arts Degree from Miami Dade College. Villaronga is a member of the Advisory Board of the Community Reinvestment Group and a member of the Southeast Region Advisory Board of Fannie Mae.

Rogelio M. Villarreal is a seasoned banker with more than 20 years experience. As SVP and Kendall Branch Manager of Ocean Bank, he is in charge of the day-to-day operations of the branch. He is also responsible for business development as well as loan and deposit growth. Villarreal began his career at Ocean Bank in 1991 and was previously a vice president with Colonial Bank, Eastern National Bank and The Bank of Miami. He received a banking degree from the Graduate School of Banking at Louisiana State University.

As VP and Business Development Officer for Ocean Bank, Marta B. Concepcion is responsible for generating new loan and deposit activity for the Bank. She also underwrites loan requests for bank customers. She joined Ocean Bank in 1996 as a credit analyst and was previously at Consolidated Bank. Concepcion graduated from Florida International University with a Bachelor degree in business administration with a concentration in finance and accounting.

Rene F. Perez Forteza is a VP and Commercial Real Estate Lending Officer for Ocean Bank. As a commercial real estate lender he manages a real estate loan portfolio for the Bank. He began his career at Ocean Bank in 1993 and was previously employed by Atlanta Georgia Remax Commercial Real Estate Brokerage. Perez Forteza received a Bachelor degree in business administration with a concentration in real estate and urban affairs from Georgia State University.

Ocean Bank is the largest independent commercial bank headquartered in the state of Florida, with more than $5.8 billion in assets and $4.9 billion in deposits. Chartered in 1982, Ocean Bank operates a network of 21 branches throughout Miami-Dade and Broward counties. Since its inception, Ocean Bank has impacted education in our community by making substantial contributions to Florida International University, Miami Dade College, the United Negro College Fund,/Florida Memorial University the Education Fund and many other community initiatives. Acknowledging its support, Ocean Bank has received numerous awards and accolades from the Beacon Council, the Greater Miami Chamber of Commerce and the Florida Department of Education.