Business

TotalBank reports a dip in third quarter earnings

By Ina Paiva Cordle

Miami-based TotalBank on Thursday reported slightly lower third quarter earnings of $2.24 million, compared to $2.33 million during the same period of 2013.

Gross loans increased by $97 million this quarter, led by residential loans which increased by $75 million; $46 million of the loan growth resulted from loan purchases from another bank. Year-over-year, loans have increased by $330 million with residential loans contributing $176 million of that growth, the bank said.

Earlier this month, TotalBank moved its corporate headquarters to the Miami Tower, at 100 S.E. 2ndSt. in downtown Miami.

TotalBank has $2.6 billion in assets and 21 branches throughout Miami-Dade County. TotalBank‘s parent is Grupo Banco Popular Español, with more than $210 billion in assets and 2,100 branches, one of the largest banking groups in Spain.

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