Ocean Bank on Wednesday reported $13.1 million in fourth quarter net income, compared to $10.8 million during the same period of 2011. For the full year, the Miami-based bank earned $44 million, compared to a loss of $11.2 million for 2011.
Ocean Bank said it has now reported a profit for six consecutive quarters. The bank said its non-performing assets fell to $179.7 million, or 5.6 percent of assets, at Dec. 31, 2012, compared to $277.2 million at Dec. 31, 2011.
INA PAIVA CORDLE