Printer Friendly

Bank of Coral Gables Profitable within Six Months.

Board of Directors re-elected

CORAL GABLES, Fla. -- The Bank of Coral Gables has shown a profit within only six months of commencement, an impressive feat in the banking industry. The bank was established in June 2006 with a business formula to provide personalized, attentive service in a warm and welcoming environment that meets the needs of those who live, work and thrive in the community of Coral Gables, and the formula has proven to be very effective.

As of year-end 2006, the bank reported more than $40 million in assets. During the most recent shareholders meeting the bank announced, as of March 1st2007, the Bank of Coral Gables' assets have increased to more than $50 million.

"Most banks anticipate a profit after the first year of business," said President Terry Best. "The Bank of Coral Gables exceeded expectations coming in well below budget last year and becoming a profitable financial institution in just six months." The Bank of Coral Gables currently has more than $40 million in deposits and $34 million in loans.

Bank of Coral Gables, led by a 12-person board of directors were re-elected at the February 28th board meeting and continue to serve Bank of Coral Gables. The board of directors is comprised of President and CEO Terry Best, Chairman William H. Kerdyk, Jr., Mr. Jerrold Blair, Mr. Charles Dusseau, Mr. Michael F. Kashtan, Mr. Paul A. Lester, Mr. Carlos C. Lopez-Cantera, Mr. Gene Prescott, Mr. Carlos J. Rodriguez, Dr. Audrey Ross, Ph.D., Dr. George M. Suarez, M.D. and Mr. Wayne (Chip) Withers.

Committed to serving the people of our community, at Bank of Coral Gables "Our strength comes from our roots." Bank of Coral Gables is a state chartered commercial bank and a member of the FDIC. Bank of Coral Gables is located at 2295 Galiano Street, Coral Gables, Florida, 33134. For inquiries or to open an account call 305-500-9501, fax 305-567-5400.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Mar 15, 2007
Previous Article:Canadian Scientific Study Reinforces ThermoEnergy's Carbon Capture Technology.
Next Article:Santa Clara University's Fundraising Campaign Reaches $400 Million Milestone.

Related Articles
Arnab Chanda Joins Deutsche Bank Equity Company Research.
City Bank Announces Strong Earnings Results for First Six Months of 2007.
Bank of Marin Announces Second Quarter Earnings.
BankUnited to Present at Keefe, Bruyette & Woods Regional Bank Conference.
Chesapeake Bank Successfully Implements BSG Financial's CourtesyConnect.
Wells Fargo Receives Top Marks for Small Business Online Site.
Nara Bancorp Receives Relief on Certain Restrictions Imposed by Regulatory Agencies.
Six Leading Financial Services Firms Invest in BIDS Trading.
Bank of the Ozarks, Inc. Announces Second Quarter 2007 Earnings.
Eugene condos selling quickly.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters