The Miami-based reports quarterly net income dropped to $2.24 million compared with $2.33 million in the same quarter a year before.
October 30, 2014 at 01:00 PM
1 minute read
TotalBank said Thursday net income in the third quarter dropped 4 percent to $2.24 million compared with $2.33 million in the same quarter last year.
The bank said in a statement that the dip in profits came in spite of an increase of $97 million in gross loans. About $75 million of that loan activity came from residential mortgages. Deposits increased by $26 million to $1.86 billion, the bank said.
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