Banner

Intracostal Bank Announces 2016 Results

Daytona Beach, Florida (January 19, 2017) - Intracoastal Bank today announced financial results for the year ended December 31, 2016. 

 Total assets at December 31, 2016, were $284.5 million up $18.5 million, or 7%, from $266 million at December 31, 2015.

 Total loans at December 31, 2016 were $176.1 million, up 33.6 million, or 24% from $142.5 million, at December 31, 2015. 

 Total deposits at December 31, 2016 were $258 million, up 16.7 million, or 7% from 241.3 million, at December 31, 2015. 

 Net income for the full year 2016 increased by 22% from the full year 2015. 

 Intracoastal Bank’s President and Chief Executive Officer Bruce E. Page reported the Tier 1 capital ratio was 8.91% at December 31, 2016, above what is required to be considered well capitalized.  The Bank continues to prove its safe and sound with great credit quality with no material delinquent loans, no foreclosed properties and no charge offs for 2016.  Mr. Page said, “Intracoastal‘s 2016 results significantly surpassed expectations and the Bank continues to perform far better than industry norms in all key areas of performance.  Intracoastal’s proven track record of producing excellent financial results has positioned the Bank to grow and make loans for the betterment of the community and local economy.”

 Intracoastal Bank is a locally owned and operated financial institution. Intracoastal Bank’s Flagler County banking center is located at 1290 Palm Coast Parkway, NW, Palm Coast, Florida 32137. The Bank’s Volusia County Banking Center is located at 2140 LPGA Blvd., Daytona Beach, FL  32117. The Bank serves the Northeast and East Central Florida area. The bank offers a full range of deposit and loan products tailored to meet the needs of individuals and businesses in the community with convenient access through 24-hour ATMs, the internet and mobile banking. The bank is a state charted business bank, member FDIC. 

 Corporate information and e-banking are available at www.intracoastalbank.net and they can be reached on Facebook at https://www.facebook.com/intracoastalbank

 For further information, please contact:

Bruce Page

President & CEO

2140 LPGA Blvd.
Daytona Beach, Florida 32117
1290 Palm Coast Parkway NW
Palm Coast, FL. 32137
Office: 386- 449-0958
Fax: 386-447-1663
Cell: 386-864-0611
Email:bpage@intracoastalbank.net
Web: www.intracoastalbank.net
Find us on Facebook: Intracoastal Bank