Rising tide

Shamrock Bank of Florida might be one of the region's smallest banks, but it posted the biggest percentage increase in profits in the first quarter.

Naples with $112 million in assets, posted a 571% increase in net income in the first quarter compared with the same quarter one year ago as the weight of troubled loans dissipated. “This bank took a lot of hits from legacy loans,” says Colleen Kvetko, Shamrock's president and CEO. “Now all the banks are coming out of that.”

Indeed, 46 banks on the Gulf Coast from Pasco to Collier counties posted a combined 16% increase in net income in the first quarter compared with the same quarter in 2012.