May 17, 2017
VERO BEACH — Marine Bank & Trust has announced strong earnings and asset growth for the first three months of 2017. The Bank has experienced asset growth year over year with $216 million in total assets as of March 31, 2017, compared to $206 million as of March 31, 2016, equating to a 4.9% growth rate.
First quarter earnings in 2017 were $261 thousand compared to $216 thousand in 2016. Loans outstanding as of March 31, 2017, were $163.5 million as compared to $155.8 million on March 31, 2016, an increase of $7.7 million or 5.0%. Total deposits as of March 31, 2017, were $197.9 million as compared to $187.7 million on March 31, 2016, a $10.2 million increase or 5.4%.
As a result of sound financial management, Marine Bank has maintained our 5-Star Superior Rating from Bauer Financial, the highest rating available from the nation’s premier bank rating firm.
“Next month, Marine Bank will celebrate 20 years of serving our community,” said Bill Penney, President and CEO of Marine Bank & Trust. “I can’t think of a better way to celebrate our longevity in the market than with a healthy balance sheet, an energized team, and a commitment to provide an exceptional banking experience.”