Ocean Bank

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Ocean Bank Locations

Deposit Rates - April 20, 2021

Overview 2021

General Bank Information

FDIC Insured Yes
FDIC Certificate # 24156
Date Established 1982
Assets $ 4.53 billion
Loans $ 3.71 billion
Deposits $ 3.93 billion
Capital $ 516.12 million

Summary Balance Sheet

ASSETS
Cash & Balances due from depository institutions $ 149.99 million
Interest-bearing balances $ 124.24 million
Total securities $ 412.70 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 3.71 billion
Loan loss allowance $ 62.59 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 3.81 million
Goodwill and other intangibles $ 1.60 million
All other assets $ 189.14 million
     Total Assets $ 4.02 billion

LIABILITIES
Total deposits $ 3.93 billion
      Interest-bearing deposits $ 3.74 billion
      Deposits held in domestic offices $ 3.93 billion
      % insured (estimated) 64.96%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 52.77 million
Subordinated debt N.A.
All other liabilities $ 36.44 millionn
      Total Liabilities $ 4.02 billion
      Shareholdersā€™ Equity $ 516.12 million

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $ 163.06 million
Total Interest Expense $ 15.73 million
Net interest income $ 147.33 million
Provision for loan and lease losses $ 17.00 million
Total non interest income $ 31.24 million
Total non interest expense $ 120.05 million
Pre-tax Net Operating Income $ 41.52 million

Ocean Bank is an FDIC insured institution headquartered at 780 N.W. 42nd Avenue, Miami, FL 33126.
It was founded in 1982 and has approximately $5 billion in assets. Customers can open an account at one of its 22 branches.