U.S. Century Bank (USCB), one of the largest Hispanic-owned community banks in the state, announced its second quarter financial results.
USCB reported a net profit of $1.082 million for the second quarter of 2016, compared with a net income of $146,000 in the same period last year.
“The bank is in the process of dynamic transformation and we are gaining real momentum,” stated Luis de la Aguilera, President and CEO. “Our new management team is hitting their stride and the entire bank is following their lead and working hard at delivering strong results."
(in 000's)
2nd Quarter 2016
- Net Interest Income - 7,343
- Total Assets - 884,904
- Total Loans - 702,079
- Total Deposits - 745,441
- Non-performing Assets - 21,785
2nd Quarter 2015
- Net Interest Income - 6,912
- Total Assets - 906,457
- Total Loans - 702,079
- Total Deposits - 713,483
- Non-performing Assets - 47,834
The bank’s Tier 1 and total capital remain stronger than required by regulators to be a “well capitalized” bank.
For the past six months, the bank has directed its efforts toward optimizing its extensive banking center network with a focus on growing and servicing the small business and professionals market. “We have carefully listened to our clients and are delivering new products and services that they have never had before,” noted de la Aguilera.
Most recently, U.S. Century Bank announced the expansion of its residential mortgage product line to include 30 and 15-year fixed and adjustable rate mortgages, as well as home equity lines. “Our expanded residential product offering was designed to meet the needs of all clients; from first-time home buyers to those stepping-up to a larger home,” said de la Aguilera. “We offer exceptional service, quick response and competitive pricing; including mortgages to qualifying foreign nationals."
“We are also excited to offer our specialized lending expertise and continued product diversification through our branch network,” de la Aguilera added. "Our customers will find it convenient and easy to apply for the loan products they need with a level of service that differentiates U.S. Century Bank from the competition.”
"U.S. Century has been both strategic and measured in evaluating products and services with the most potential for impacting the needs of clients, and we believe we are in a favorable position for continued growth, expansion and profitability," stated Alex Acosta, Chairman of the Board.
In April, the Federal Deposit Insurance Corporation and the Office of Financial Regulation terminated the Consent Order issued in June 2011.
About U.S. Century Bank
Established in 2002, U.S. Century Bank is one of the largest community banks headquartered in Miami, and one of the largest Hispanic-owned community banks in the state, with assets of almost $1 billion. Through its network of 17 branch locations and its online banking platform, it offers its customers a wide range of financial products and services. U.S. Century Bank has received awards and accolades from numerous organizations for its philanthropic support and leadership, including the Beacon Council, Greater Miami Chamber of Commerce, South Florida Hispanic Chamber of Commerce, Latin Builders Association, March of Dimes and others. For more information or to find a U.S. Century branch near you, please call (305) 715-5200 or visit www.uscentury.com.
