Vero Beach, Fla. – Marine Bank & Trust continued to demonstrate solid performance and growth for the first quarter of 2019. The Bank experienced asset growth year over year with $278 million in total assets as of March 31, 2019 compared to $257 million as of March 31, 2018, an increase of $21 million or 8%.
Loans outstanding as of March 31, 2019 were $226 million as compared to $192 on March 31, 2018, an increase of $34 million or 18%.
Total deposits as of March 31, 2019 were $253 million as compared to $237 million on March 31, 2018, an increase of $16 million or 7%.
Net income for the first three months of 2019 was $353,000 compared to $290,000 in the first three months of 2018, an increase of $63 million or 22%.
“Our focused efforts to attract and retain the best bankers in every business line while also growing our presence in Brevard County continue to garner positive results for the Bank,” said Bill Penney, President and CEO of Marine Bank & Trust. “As a community bank, our success will benefit our community through increased capital resources for our small businesses and homebuyers, as well as opportunities to support events and causes that continue to improve our quality of life.”
About Marine Bank & Trust
Marine Bank, was chartered in 1997 and has $278 million in assets with four full-service branches in Vero Beach, Sebastian and Melbourne. As the only community bank headquartered in Indian River County, the Bank’s growth ties into the national trend of customers choosing local. Marine Bank has earned the coveted 5-star Superior rating from Bauer Financial, the nation’s premier bank rating firm. In 2018, Marine Bank & Trust was named among the top extraordinary banks in the United States by The Institute for Extraordinary Banking and received the Institute’s Banky™ Award for its commitment to strong community banking. The Bank is an active community supporter providing over $200,000 to more than 125 local non-profit organizations in the market over the last five years. For more information, visit the website at www.marinebank.bank.