OCEAN BANK REPORTS RISE IN ASSETS AND NET INCOME
Ocean Bank Reports Rise in Assets and Net Income
MIAMI – Feb. 1, 2022 – Ocean Bank announced today net income of $46.4 million for the year ended Dec. 31, an increase of 46% over 2020, and total assets of $5.3 billion, an increase of $800 million or 17.8% during the year.
"We had very strong lending in 2021,” said President, CEO and Chairman Agostinho Alfonso Macedo. “We generated $1.23 billion in new loans and finished the year with $3.94 billion in total loans.
Ocean Bank reported net interest income of $163 million for the year, an increase of 10.4% over 2020.
Stockholders’ equity stood at $540.5 million at December 31, 2021, compared with $516.1 in 2020. The bank finished the year with a Tier 1 leverage ratio of 10.51.
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