BOCA RATON, Fla.--(BUSINESS WIRE)--Paradise Bank, a community bank based in Boca Raton, Florida, reported net income of $5.1 million for 2012, $5.7 million for 2013, and another record $6.0 million for 2014. With total assets averaging over $305 million, Paradise Bank’s return on average assets for 2014 was 1.96%, which places Paradise Bank among the highest performing banks in the country. Paradise Bank’s return on equity was 19.80% for 2014.
Bill Burke, President of Paradise Bank, said, “It is with much pride and pleasure that we announce outstanding results for 2014. Our leadership in SBA loans and residential mortgage loans have helped to augment our strong loan portfolio to produce a bottom line profit which puts Paradise Bank among the nation’s top performing banks.”
Ward Kellogg, Chairman of the Bank said, “Our business plan has always been to focus on providing excellent community banking services in Palm Beach and Broward Counties and to reward our devoted shareholders with strong earnings. Today the need for the local banking services provided by Paradise Bank is greater than ever!”
Paradise Bank is a 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 640 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."
