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OCEAN BANK REPORTS INCREASE IN ASSETS AND CAPITAL

Miami, FL, Nov. 01, 2019 (GLOBE NEWSWIRE) -- Ocean Bank reported total assets of $4.3 billion at September 30, an increase of $480 million, or 12.5% over September 30, 2018.Equity capital rose to $485 million, an increase of 6.8% from the $454 million at September 30, 2018.a??We continued our solid growth during the year, with net income of $25.4 million for the nine months and $7.3 million in the third quarter,a?? President and CEO Agostinho Alfonso Macedo said.At September 30, the Banka??s Tier 1 Leverage Ratio stood at 10.8% and the Total Capital Ratio at 14.5%.
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