Biscayne Bank releases second-quarter earnings

Biscayne Bank released its second-quarter earnings results Tuesday, reporting net income up 32 percent year-over-year.

The Coconut Grove-based bank had net income of $1.82 million for the quarter that ended June 30, up from $1.7 million for the first quarter of 2015 and $1.4 million for the second quarter of 2014.

Earnings were driven largely by loans, which reached $498 million during the second quarter, according to the bank.

“Over the last few years, healthy dynamism has returned to the South Florida real estate market,” Ana Dominguez, the bank’s chief lending officer, said in a statement. “Yes, some high-end condominium projects have cooled off a bit of late, but we see a relatively benign market over the medium term.”

Biscayne also reported assets of $589 million, up 48 percent over the second quarter of 2014. The bank operates four branches in Miami-Dade County and has a five-star rating from Bauer Financial.

This story was originally published August 4, 2015 at 5:15 PM with the headline "Biscayne Bank releases second-quarter earnings."