Bill Penney
President & CEO
Marine Bank reported that it continued to achieve asset growth, good earnings, and profitability through the first quarter of 2023. As a result of its continued positive financial performance, Marine Bank is rated 4-Stars, Excellent by Bauer Financial, the premier bank-rating organization.
As of March 31, 2023, the Bank had $653 million in assets, a 10% year-over-year increase over assets as of March 31, 2022. Loans as of March 31, 2023, totaled $437 million, an increase of 28% over total loans as of March 31, 2022. Total deposits as of March 31, 2023, were $598 million, an 8% increase over the same time last year.
“Last month's spike in media coverage of the banking industry understandably raised a few questions and concerns from our clients,” said Bill Penney, President and CEO of Marine Bank. “As always, we welcomed the opportunity to engage with our clients and inform them of how their deposits are safe and protected. Our clients appreciate that they can call or walk into any of our banking centers during business hours and get answers. It’s reassuring to them. In March, we opened over 200 new accounts, indicating our clients endorse and trust our personal approach to banking.”
“Last month's spike in media coverage of the banking industry understandably raised a few questions and concerns from our clients,” said Bill Penney, President and CEO of Marine Bank. “As always, we welcomed the opportunity to engage with our clients and inform them of how their deposits are safe and protected. Our clients appreciate that they can call or walk into any of our banking centers during business hours and get answers. It’s reassuring to them. In March, we opened over 200 new accounts, indicating our clients endorse and trust our personal approach to banking.”