Pacific National Bank reports strong first half of 2015

Pacific National Bank had a strong first half of 2015, according to earnings results released Wednesday.

The Miami-based bank reported net income of $195,000 for the quarter that ended June 30, compared to $1.2 million for the first quarter of 2015 and $271,000 for the second quarter of 2014.

That means the bank’s profits for the first six months of 2015 were up 236 percent over profits for the first half of 2014.

Pacific’s total assets also grew to about $408.1 million in the most recent quarter, up about 15 percent year-over-year.

“Our efforts over the last five years to correct the Bank’s regulatory challenges and return PNB to profitability are beginning to yield the desired results,” Carlos Fernandez-Guzman, the bank’s president and CEO, said in a statement.

In June, the bank was released from a federal consent order established in 2010 for violations of money-laundering rules. Bauer Financial also recently raised the bank’s rating from three to four stars.

This story was originally published July 29, 2015 at 4:50 PM with the headline "Pacific National Bank reports strong first half of 2015."