Mercantil Commercebank of Coral Gables reports higher earnings

Mercantil Commercebank on Friday reported a net profit of $34.2 million for 2013, up from $31.8 million in 2012.

Net loans closed at $4.8 billion at year-end, an increase of 8.7 percent over the same quarter last year. Deposits rose 3.6 percent during the year, to close at $5.6 billion at year end 2013.

Mercantil Commercebank, based in Coral Gables, has $6.8 billion in assets and 19 locations, including 15 in South Florida, three in Houston and one in New York. The bank is owned by Mercantil Servicios Financieros (MSF), of Venezuela.

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