Ocean Bank Reports Continued Growth

MIAMI--(BUSINESS WIRE)-- Ocean Bank announced today growth of $250 million in total assets for the quarter ended Sept. 30, rising 4 percent to $6.65 billion.

“I’m very proud of Ocean Bank in achieving another record in total assets,” said Agostinho Alfonso Macedo, President Chairman and CEO of Ocean Bank.

The bank reported net income of $15.5 million for the quarter and $45.4 million for the first nine months of the year, bringing total equity to $638.1 million, up from $589.8 at the beginning of the year. Total loans grew to $5.38 billion, and deposits grew to $5.56 billion.

The bank’s Tier 1 leverage ratio stood at 10.2%, more than twice what is needed to be a “well-capitalized” bank.

About Ocean Bank

Ocean Bank is the largest independent, state-chartered commercial bank headquartered in Florida, with $6.65 billion in assets. Chartered in 1982, Ocean Bank operates its network of 23 branches throughout Miami-Dade, Broward, and Orange counties. The community bank has received numerous awards and accolades from the Greater Miami Chamber of Commerce, The Beacon Council and the Florida Department of Education, among others, for its support of our South Florida communities. For more information, log on to www.oceanbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241031457869/en/

For Ocean Bank
Wragg & Casas
Ray Casas (305) 372-1234

Source: Ocean Bank

You May Also Be Interested In

• SkyDrive signs MoU on eVTOL Operations in Japan with Japan Biz Aviation, Operator of HondaJet and Bell Helicopter Charters
• Groundbreaking Achievement: Study of Ensartinib as Postoperative Adjuvant Therapy Published in The New England Journal of Medicine
• Stream Mission Critical Highlights Dedicated Hyperscale Transport Services as Data Center Expansion Reshapes Infrastructure Logistics