Vero Beach, Fla. – Marine Bank & Trust continued to demonstrate solid performance and growth for the first two quarters of 2019. The Bank experienced asset growth year over year with $273 million in total assets as of June 30, 2019.
Loans outstanding as of June 30, 2019 were $223 million as compared to $205 million on June 30, 2018. Total deposits as of June 30, 2019 were $247 million compared to $245 million on June 30, 2018.
Net income for the first six months of 2019 was $745,000 compared to $476,000 in the first six months of 2018, an increase of $269,000 or 57%.
“Our focused efforts to execute our strategic initiatives are having a positive impact on our bottom line,” said Bill Penney, President and CEO of Marine Bank & Trust. “This positive trend enables us to continue to attract and retain the best and brightest banking professionals our area has to offer including Tina Nicholson, banking center manager at our Vero Beach mainland banking center, and commercial loan officers Lory Milton and Jael Aldunate in our Melbourne banking center.”
About Marine Bank & Trust
Marine Bank, was chartered in 1997 and has $273 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, 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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