Ocean Bank reports lower net earnings



Ocean Bank on Thursday reported $5.5 million in third-quarter profit, down from $9.4 million in the same period of 2012.

The bank has made efforts to reduce its non-performing assets — other real estate owned and non-performing loans, which fell to $139 million or 4.2 percent of assets at the end of the latest quarter, down from as much as $771.6 million at year-end 2008.

Ocean Bank has $3.3 billion in assets and 21 branches in Miami-Dade and Broward counties.

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