U.S. Century Bank releases second-quarter earnings

U.S. Century Bank released its second-quarter earnings Wednesday, reporting net income of $146,000 for the quarter that ended June 30.

The Doral-based community bank lost $7.1 million in the first quarter of 2015 and $1.1 million in the second quarter of 2014.

Carlos J. Dávila, the bank’s president and CEO, said in a statement that U.S. Century had “made significant financial improvement by reducing our non-performing loans, shedding REO properties and decreasing delinquencies.”

In March, the bank closed on a $65 million infusion of private-equity capital that allowed it to remain independent and locally owned. A 2011 consent deal with federal regulators mandated that U.S. Century seek new capital because of bad loans and other problems during the recession.

U.S Century has nearly $1 billion in assets and 20 branches in South Florida.

This story was originally published July 29, 2015 at 5:31 PM with the headline "U.S. Century Bank releases second-quarter earnings."