TotalBank Continues A Strong Second Quarter 2015 - Announces A 30% Increase
TotalBank reports a strong second quarter with an increase of 30%.
- Miami, FL (1888PressRelease) August 01, 2015 - TotalBank President and CEO, Luis de la Aguilera, announced the Bank's second quarter net income of $3.9 million, a 30 percent increase from year over year. The Bank's year-to-date income is now $7.7 million, a 46 percent increase.
"We are pleased with the strong momentum we sustained for the second quarter with growth in loans and deposits. This positions us for continued growth, and we anticipate a solid performance for the second half of the year," stated de la Aguilera.
TotalBank's assets increased $123 million, or 5 percent, to an all-time high of $2.7 billion during the second quarter, fueled by a $183 million increase in loans. The 11 percent year-over-year loan growth was led by a $156 million increase in residential loans. The Bank's deposits increased $121 million year-over-year, led by a $53 million increase in non-interest bearing deposits.
The Bank's deposits for the quarter increased $71 million, an annualized rate of 15 percent.
"Our continued success is a reflection of the accomplishments of our strong customer base," said Jose Marina, Executive Vice President and Chief Financial Officer. "We will continue to work with our current and future customers to provide them with the financial resources necessary for success in today's financial environment."
TotalBank's capital ratios continued to strengthen.
The table below compares the Bank's capital ratios as of June 30, 2015 with its peer group average as of March 31, 2015 and demonstrates its solid capital position:
TotalBank at 6/30/15
Total Risk Based Capital Ratio = 17.80%
Tier 1 Risk Based Capital Ratio = 16.73%
Common Equity Tier 1 Capital Ratio =16.73%
Tier 1 Leverage Ratio = 11.95%
UBPR Peer Group Average at 3/31/15
Total Risk Based Capital Ratio = 14.46%
Tier 1 Risk Based Capital Ratio = 13.34%
Common Equity Tier 1 Capital Ratio = 13.29%
Tier 1 Leverage Ratio = 9.86%
TotalBank maintains a strong lending presence in Miami-Dade County. The results of its recent Community Reinvestment Act (CRA) performance evaluation underscores TotalBank's commitment in meeting the credit needs of the community, including those from low- and moderate-income neighborhoods. Additionally, the Bank was recognized as having played a leading role in the origination of community development loans.
TotalBank has also maintained its 5-star rating from BauerFinancial, Inc., a source for unbiased and independent bank and credit union star ratings for 13 consecutive quarters. A 5-star rating indicates that TotalBank is one of the strongest banks in the nation, and that it excels in areas of capital quality, asset quality, profitability and more.
Later this fall, TotalBank will open its relocated Palmetto Bay Banking Center which will be located at 16475 South Dixie Highway.
About TotalBank
TotalBank is a leading integrated retail-commercial bank in South Florida with more than $2.7 billion in assets and 19 convenient locations throughout Miami-Dade County. Headquartered in Miami, TotalBank has served the South Florida community for 40 years, offering a broad range of domestic and international financial services to corporations, small businesses and individual consumers. The bank offers superior customer service focused on meeting the financial needs of customers while earning their confidence and loyalty. A member of Grupo Banco Popular Espaρol, with $190 billion in assets and 2,000 branches, TotalBank is strengthened by its parent, one of the largest banking groups in Spain. For additional information visit our website at www.totalbank.com. Follow us on Facebook, Twitter, LinkedIn, and YouTube.
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