Sabadell United Bank reports higher profits in second quarter

Sabadell United Bank released its second-quarter earnings results Thursday, reporting higher profits in the second quarter.

The Miami-based bank had net income of $7.8 million for the quarter that ended June 30, up from $7.1 million in the first quarter of 2015 and $6.1 million in the second quarter of 2014.

“Our second quarter earnings and organic growth are in line with our strategy and projections,” bank president Dwight Hill said in a statement. “We have had a solid first half of the year with steady loan and deposit growth.”

Also in the second quarter: assets grew by 20 percent year-over-year to $4.8 billion and deposits were up 22 percent over the same period to $3.8 billion.

Sabadell, owned by Spanish bank Banco Sabadell, has a five-star rating from Bauer Financial and runs 26 branches across Florida.

This story was originally published July 30, 2015 at 2:16 PM with the headline "Sabadell United Bank reports higher profits in second quarter."