Business

July 30, 2014

TotalBank reports second quarter earnings

TotalBank on Wednesday reported second quarter net income of $3 million, down 35 percent from $4.6 million for the same period of 2013, as a result of $5 million of non-recurring securities gains recognized in the prior year.

TotalBank on Wednesday reported second quarter net income of $3 million, down 35 percent from $4.6 million for the same period of 2013, as a result of $5 million of non-recurring securities gains recognized in the prior year.

The Miami-based bank said it closed on $92 million in new loans during the second quarter. Residential loans grew by 8 percent, or more than $35 million during the quarter. Deposits rose $116 million during the past year, up 7 percent.

TotalBank has $2.6 billion in assets and 21 branches throughout Miami-Dade County. The bank is owned by Grupo Banco Popular Español.

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