FORT LAUDERDALE, Fla., April 29, 2014 /PRNewswire/ -- For the 14th consecutive quarter, Broward Bank of Commerce has reported a profit. Keith Costello, President & CEO of Broward Bank of Commerce (BBOC) announced to investors that BBOC earned a profit of $496,174, an increase of $459,267 over last year's first quarter earnings of $36,908.
"Our vision is to be the best, most trusted bank in South Florida," stated Costello. "With that vision in mind, our team works to help small business owners obtain financing, we cater to individuals who are looking to purchase a first or second home and to developers constructing those homes or commercial properties, and we have helped community organizations such as the Fort Lauderdale Women's Club finance improvements to their beautiful historic building."
Broward Bank of Commerce is recognized for abandoning the cookie-cutter approach to banking and that is what Costello says has contributed to the bank's success. "We don't place our customers into the typical 'banking box' that only considers their credit score," stated Costello. "When our banking professionals meet with a client who is looking to obtain a loan to expand their business or purchase a home, we look at the whole picture and that is really what sets us apart from other banks, both large and small."
Broward Bank of Commerce's Results for Q1, ending March 31, 2014, are as follows:
- Profit: Profit of $496,174.
- Assets: Assets were $172 million as compared to $145 million in March 2013.
- Deposits: Deposits stood at $142 million as compared to $124 million in March 2013.
Since 2009, Broward Bank of Commerce has been delivering superior financial services and solutions to small to medium sized businesses, entrepreneurs, individuals and nonprofits. Broward Bank of Commerce maintains two branches in Fort Lauderdale. For more information visit http://www.browardbankofcommerce.com or call (954) 761-4900.
About Broward Bank of Commerce
Broward Bank of Commerce has one mission: to deliver superior financial services and solutions to inspire and help customers realize their financial dreams; to make a difference in the lives of the people, businesses and organizations throughout the communities we serve. From SBA, commercial and residential lending, to a full range of personal banking products and services, Broward Bank of Commerce is one of the few privately-owned banks in South Florida that has been recognized for their clean balance sheet, continued growth, experienced and remarkable team of banking professionals, and dedication to corporate social responsibility. For more information about Broward Bank of Commerce, call (954) 761-4900 or visit http://www.browardbankofcommerce.com/
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SOURCE Broward Bank of Commerce