OCEAN BANK REPORTS INCREASES IN INCOME, CAPITAL AND ASSETS
Ocean Bank Reports Increases in Income, Capital and Assets
Ocean Bank announced today solid increases in net income, capital and total assets at year-end 2023 compared to 2022.
The bank’s total assets grew to a record $6.44 billion, an increase of $527.6 million from $5.92 billion the prior year.
“Our strong results reflect the bank’s ability to successfully navigate through the changing interest rate environment,” said Agostinho Alfonso Macedo, Ocean Bank’s president, chairman and CEO. “We increased net income by 12.2 percent to $62.6 million.”
The bank reported capital of $590.5 million, an 11.3 percent increase during the year.
The Bank’s 9.88% Tier 1 Leverage ratio is nearly double the 5.00% threshold required to be a “well-capitalized” bank.
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OCEAN BANK LENDS $16.5 MILLION FOR CONSTRUCTION OF "LIVE LOCAL" APARTMENT COMPLEX -
OCEAN BANK PROVIDES $21.5 MILLION FOR HOLLYWOOD HOTEL -
OCEAN BANK LENDS $80 MILLION TO FLB HOTEL, LLC -
OCEAN BANK REPORTS CONTINUED GROWTH -
OCEAN BANK TO OPEN FIRST PALM BEACH COUNTY BRANCH -
OCEAN BANK LENDS $6.3 MILLION FOR EXPANSION OF HIGH-PROFILE JEWELRY STORE -
FROM RECYCLED OCEAN PLASTIC TO DEBIT CARDS -
OCEAN BANK PROVIDES $5,000,000 FACTORING FACILITY TO AN INTERNATIONAL EXPORTER -
VANESSA LUGO PROMOTED TO CFO -
OCEAN BANK PROVIDES $4.9 MILLION FOR AVIATION COMPANY -
OCEAN BANK LENDS $4.5 MILLION FOR SHOPPING PLAZA RENOVATION -
OCEAN BANK PROVIDES $17.5 MILLION FOR REFINANCE OF ALOFT HOTEL -
OCEAN BANK PROVIDES $25 MILLION FOR AUTO DEALERSHIPS FLOOR PLANS -
INTERNATIONALLY RENOWNED ARTIST ROMERO BRITTO ACQUIRES BUILDING IN MIAMI FOR ALMOST $12 MILLION -
OCEAN BANK PROVIDES $40 MILLION TO REFINANCE SHOPPING MALL -
ORLANDO BRANCH WILL RETURN TO NORMAL HOURS -
OCEAN BANK LENDS $9.2 MILLION OF CONSTRUCTION OF ULTRA-LUXURY TOWNHOMES -
CRISTO REY MIAMI HIGH SCHOOL AND OCEAN BANK PARTNER FOR STUDENT SUCESS -
OCEAN BANK REPORTS CONTINUED GROWTH -
OCEAN BANK PROVIDES $27 MILLION FOR SHOPPING CENTER PURCHASE -
OCEAN BANK TO OPEN FIRST PALM BEACH COUNTY BRANCH -
OCEAN BANK REPORTS INCREASES IN INCOME, CAPITAL AND ASSETS