Feburary 22, 2016

Vero Beach, Fla. Marine Bank & Trust recently announced that the Bank continued a positive three-year earnings trend with record earnings in 2015 of $1.15 million.

1st Quarter earnings $250,000 $173,000
2nd Quarter earnings $292,000 $283,000
3rd Quarter earnings $300,000 $238,000
4th Quarter earnings $311,000 $240,000
Full Year earnings $1,153,000 $934,000

Marine Bank experienced 18% asset growth year-over-year with $193 million in total assets as of December 31, 2015 compared to $163 million as of December 31, 2014.

The Bank’s current capital ratios exceed the regulatory requirements. Marine continues to be “Well Capitalized” per the regulatory guidelines; the tier 1 capital ratio as of December 31, 2015 was 9.27% and total risk-based capital ratio was 14.73%.

Local business activity has increased, resulting in a higher demand for commercial loans. Also, the housing market’s escalation led to an increase in home mortgages, moving Marine Bank closer to its goal to be Vero’s leading mortgage lender. The Bank also focused on acquiring new customer relationships and grew core deposits 15% year-over- year.

“We know that customer relationships are dependent upon quality people and that’s exactly what we have – exceptional employees serving coveted customers,” said Bill Penney, President and CEO of Marine Bank & Trust. “We will continue this trend and expect even greater growth in 2016.”

Marine Bank, was chartered in 1997 and has $193 million is assets with two full-service branches in Vero Beach and a loan production office in Sebastian. It is the only community bank headquartered in Vero Beach. 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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