U.S. Century Bank reported a $5.8 million loss in 2015, a year that saw the Doral-based bank receive $65 million in a recapitalization deal and recruit a new chief executive.
The 2015 losses are an improvement on 2014 when U.S. Century reported an $8.2 million annual shortfall, according to quarterly reports filed with the Federal Deposit Insurance Commission. The bank said it made a profit of $127,000 in the fourth quarter of 2015.
“Our bank is poised for steady and profitable growth,” Alex Acosta, the bank’s chairman, said in a statement. “We have worked tirelessly to position the bank to effectively compete in this market.”
In March, two Northeastern financial firms agreed to inject $65 million into U.S. Century, allowing it to stay afloat and fulfilling the terms of a consent order signed in 2011 with federal regulators. Then in December TotalBank president and CEO Luis de la Aguilera agreed to take the reins at U.S. Century. He brought several top executives with him.