Community Bank of Manatee earned $105,000 in net income last quarter.
Community Bank of Manatee earned $105,000 in net income in the third quarter of 2010, representing the Bradenton bank's second consecutive profitable quarter.
The bank also recently received an additional $7 million in capital, which it will use to satisfy “high levels of local loan demand,” according to a release. That new capital gives the bank a Tier 1 leverage ratio of 11.6%, and a total risk-based capital ratio of 16.2%.
Deposit activity is up as well. President Katie Pemble says Community attracted “hundreds of new accounts” in the recently concluded quarter.
Community Bank of Manatee manages roughly $250 million in assets. The bank recently relocated its branch in downtown Tampa.