Mercantil Commercebank’s first quarter earnings decline

Mercantil Commercebank on Tuesday reported a steep decline in first quarter earnings to $5.9 million, compared to $10.1 million for the first quarter of 2013.

Net loans closed at $4.8 billion, up 11.1 percent from the end of the first quarter of last year, led by a 12.9 percent increase in commercial and industrial loans, a key segment for the Coral Gables-based bank.

Mercantil Commercebank, owned by Mercantil Servicios Financieros of Venezuela, has $6.9 billion in assets and 19 banking centers, including 15 in South Florida, three in Houston and one in New York.

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