BOCA RATON, Fla.--(BUSINESS WIRE)--Paradise Bank continues to produce record profits by reporting net income of $2.7 million for the six months ending June 30, 2013 which represents an 8% increase over the same period of 2012. This equates to a return on average earnings assets of 1.19% and places Paradise Bank #1 in the Gold Coast region according to the Hovde Group, a well-respected financial advisory service. “Paradise Bank is proud to post these returns as it is a testimonial to the collective efforts of our associates, loyal customers, and our Board of Directors,” said Bill Burke, President and COO of Paradise Bank.
Paradise Bank also reported a very low non-performing asset ratio of 1.03% for the six months ending June 30, 2013. “Our credit quality remains strong and we continue to add value to our customers and the business community in which we proudly serve and support,” said Ward Kellogg, Chairman of Paradise Bank.
Paradise Bank is a well-capitalized locally owned community bank with its main office at 2420 North Federal Highway in Boca Raton and branch offices at 1351 North Federal Highway in Delray Beach and 540 North Federal Highway in Fort Lauderdale. For additional information, please call us at 561-392-5444 or check our website at www.ParadiseBank.com. Member FDIC and Equal Housing Lender.
"This information contains 'forward-looking statements' within the meaning of the federal securities laws. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements. Forward-looking statements involve known and unknown risks, on certainties and other factors, which may be beyond our control or which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. You should not expect us to update any forward-looking statements."