Vero Beach, Fla. – Marine Bank & Trust achieved record earnings for the first three quarters of 2019. The Bank’s assets as of September 30, 2019 were $278 million compared to $268 million as of September 30, 2018, an increase of $10 million or 4%.
Loans outstanding were $232 million as of September 30, 2019, compared to $209 million on September 30, 2018, an increase of $23 million or 11%.
Net income after tax for the first nine months of 2019 was $1,157,000 compared to $636,000 for the same period of 2018, an increase of 82%.
“Marine Bank’s continued commitment to the success of our community’s residents, business owners and philanthropic and civic organizations has proven to be a win-win for everyone,” said Bill Penney, President and CEO of Marine Bank & Trust. “By providing a pathway to homeownership, access to capital to grow a business, or support of a community project, team Marine is walking the walk. We truly believe the more everyone succeeds, the more we thrive.”
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 to bank local. Marine Bank has earned the coveted 5-star Superior rating from Bauer Financial, the nation’s premier bank rating firm. In 2018 and 2019, 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.
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