Bill Penney
President & CEO
Marine Bank reported that it continues to experience year-over-year growth in assets, loans, and deposits. As of September 30, 2023, the Bank had $639 million in assets, compared to $623 million for the same period in 2022, a 3% year-over-year increase. Loans for the nine months ending September 30, 2023, totaled $442 million compared to $401 million for the same period in 2022, a 10% year-over-year increase. Deposits for the nine months ending September 30, 2023, totaled $578 million compared to $551 million for the same period in 2022, a 5% year-over-year increase.
Net income for the first nine months of 2023 was $3.625 million, down slightly from $3.906 million for the first nine months of 2022, for a 7% year-over-year decrease.
“Our winning combination of providing our clients with unparalleled customer service in addition to robust online and mobile banking services is creating fiercely loyal clients who are driving new business to our bank through their heartfelt endorsements,” said Bill Penney, President and CEO of Marine Bank. “As the only community bank headquartered in the growing Central East Coast Florida market, Marine Bank has proven to be an accessible and trusted resource for local business and homeowners.”