Merantil Commercebank, based in Coral Gables, on Wednesday reported a net profit of $10.2 million for the fourth quarter of 2012, up from $7.7 million reported for the same quarter of 2011.
The bank earned $31.8 million for the full year of 2012, nearly double the $16.2 million it earned in 2011. The bank said its positive results primarily reflect strong growth in loans and improved asset quality.
Mercantil Commercebank had $6.8 billion in total assets at year-end 2012. It has 18 branches, including 15 in South Florida, one in New York and two in Houston.
INA PAIVA CORDLE
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