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Business Observer Monday, Aug. 15, 2011 8 years ago

TIB earns $1 million in profit

The company's latest earnings are up from a loss of $14.1 million last year.

NAPLES — TIB Financial Corp. earned $1 million in net income in the second quarter of 2011, according to a financial report released early Monday.

A series of mergers with North American Financial Holdings Inc. have put the bank back on track, after the firm lost $14.1 million in the second quarter of 2010.

On his bank's latest performance, TIB chairman and CEO Gene Taylor said, “I am pleased with the bank's progress in new loan originations and core deposit growth, which should set the stage for continued improvements in profitability."

Naples-based TIB Financial is a financial services company with investments in Capital Bank NA, a bank with about $4.5 billion in total assets. The company is also parent to Naples Capital Advisors Inc, an investment adviser company that manages about $225 million assets.

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