In observance of Martin Luther King Jr. Day, we will be closed Monday, January 16th. We will resume regular business hours on Tuesday, January 17th.

Find your branch
Call Us: 305-569-5000
Ocean Bank

Take care of it on the mobile app

 

Now leaving the

Ocean Bank website

 

 

You're going to a site that isn't owned or controlled by Ocean Bank, and might have different Privacy Policy, cookie control and security standards.

 

Continue

 

Now leaving the
Ocean Bank website

 

 

You're going to a site that isn't owned or controlled by Ocean Bank, and might have different Privacy Policy, cookie control and security standards.

 

Continue

OCEAN BANK REPORTS RISE IN NET INCOME AND ASSETS

May 3, 2022
Download PDF

Ocean Bank Reports Rise in Net Income and Assets

MIAMI – May 3, 2022 – Ocean Bank announced today net income of $11.6 million for the first quarter ended March 31, a 13% increase from the fourth quarter of 2021, and total assets of $5.4 billion, a $100 million increase during the quarter.

Agostinho Alfonso Macedo, CEO, chairman and president of Ocean Bank, attributed the results to continued strong lending which resulted in net interest income of $40.6 million during the quarter.

The Bank’s 10.30% Tier 1 Leverage ratio is more than double the 5.00% threshold required to be a “well-capitalized” bank.

 

 

 

 

 

 

 

Dec. 16, 2021 – Ocean Bank announced that it has provided financing of $26.7 million to HGreg Nissan Kendall, LLC, a subsidiary of HGreg USA Holdings, Inc. Dec. 13, 2021 – Veteran banker Ruth Jimenez has been appointed manager of Ocean Bank’s Brickell Avenue branch. Dec. 1, 2021 – Ocean Bank announced today that Vice President Anamarys Armas-Perez was appointed manager of the West Kendall branch in addition to her ongoing duties at the West Miami branch. Nov. 5, 2021 – Ocean Bank announced today it loaned $49 million to refinance two commercial condominium units at the Ritz-Carlton Hotel on Miami Beach’s Collins Avenue. Nov. 2, 2021 – Ocean Bank announced today total assets topped the $5 billion mark at Sept. 30, an increase of $200 million during the third quarter ended Sept. 30. Nov. 1, 2021 – Ocean Bank announced its Factoring Division has closed and funded a $2.0 million factoring facility to Globalwing USA Corp., a Miami-based leading exporter of frozen meats and poultry. Sept. 27, 2021 -- Ocean Bank announced its Factoring Division has closed and funded a $2.5 million Factoring & Purchase Order (PO) Financing Facility to a leading growing toy manufacturer headquartered in the Southeast. Sept. 8, 2021 -- Ocean Bank announced today a series of loans totaling $31 million to companies led by investor Eric Bouskila for the purchase of two apartment complexes and two commercial centers in Hialeah. Sept. 2, 2021 -- Ocean Bank’s Factoring Division has provided a $2 million factoring facility to a leading midwest wine distributor. Aug. 2, 2021 – Ocean Bank announced today net income of $13.9 million for the quarter ended June 30, compared with $11.6 million for the first quarter of 2021 and $3.3 million for the second quarter of 2020. Net income for the first half of 2021 was $25.5 million, compared with $9.2 million for the same period in 2020. June 7, 2021 -- Ocean Bank announced that it has provided financing to a subsidiary of H Greg USA Holdings, Inc. to purchase the property and buildings housing one of the company’s dealerships. May 7, 2021 – Ocean Bank has provided a construction loan of $37.9 million to AHS at Harbor Grove, LLC for a 10-building apartment development just east of Federal Highway in Stuart. May 3, 2021 – Ocean Bank announced today first quarter 2021 net income of $11.6 million compared with $6.0 million for the first quarter of 2020, an increase of 91%. Net interest income rose during the quarter by 8.4% from the first quarter of 2020 to $39.1 million. April 29, 2021 – Ocean Bank announced today Daniel Krasna has joined the bank as Vice President, Factoring Business Development Officer. April 12, 2021 – Ocean Bank has provided a construction loan of $32.4 million to Douglas Enclave, LLC for a 12-story building with 199 affordable housing rental apartments and an attached 170-space parking garage. February 8, 2021 – Ocean Bank announced today fourth quarter 2020 net income of $11.8 million compared with $9.4 million for the fourth quarter of 2019. Ocean Bank reported full-year net income of $31.8 million versus $34.8 million in 2019. January 19, 2021 – Ocean Bank announced today the promotion of Rogelio Villarreal to Executive Vice President. January 4, 2021 – Ocean Bank announced today that Pedro Max has been promoted to Executive Vice President.