Bank reports surge in loans

Florida Community Bank, with a large and growing presence on the Gulf Coast, reported a surge in loans through the 2014 first quarter.

Total loans at the Weston-based bank increased 98% over the first quarter of 2013, from $1.5 billion to $2.9 billion, according to a release. The bank's organic loans, which exclude loans acquired through acquisitions and business combinations, grew 118.1% in the same time frame, from $1.05 billion to $1.9 billion.

A subsidiary of Miami-based Bond Street Holdings, FCB reported growth in other metrics, including:
• Net income in the first quarter increased 45% over the 2013 first quarter, from $3.3 million to $4.7 million, which includes $2.6 million of after tax non-recurring acquisition related expense;
• Operating net income in the 2014 first quarter was $7.3 million, up 104% from $3.6 million in the 2013 first quarter;
• Deposits increased $816 million for the quarter and $1.3 billion over the last 12 months through March 31.