Banner

Intracoastal Bank Announces Annual Meeting Results

Palm Coast, Florida (March 23, 2018) – Intracoastal Bank, held its annual meeting of shareholders on March 22, 2018 at the Plantation Bay Golf and Country Club. 

At the meeting, the following individuals were elected to serve as directors for the coming year:  Dr. Pamela Carbiener, C. Scott Crews, Robert DeVore, Thomas L. Gibbs, Albert B. Johnston, Jr., Gerald P. Keyes, Michael Machin and Bruce E. Page.

Bank management provided shareholders with a progress update highlighting the outstanding growth and success the Bank experienced in 2017.  The highlights included the following:

Total assets at December 31, 2017, were $315 million up $31 million, or 11%, from $284 million at December 31, 2016.

Total loans at December 31, 2017 were $199 million, up 23 million, or 13% from $176  million, at December 31, 2016. 

Total deposits at December 31, 2017 were $285 million, up 27 million, or 10% from 258 million, at December 31, 2016. 

Net income for the full year 2017 increased by 19% from the full year 2016. 

The Bank continues to prove its safe and sound with good credit quality with no material delinquent loans, no foreclosed properties and no charge offs for 2017.  Bank management also reported Intracoastal Bank has reinvested 394 million in loans in the community since opening its doors in 2008 in the form of personal and business lending. Intracoastal Bank’s President and Chief Executive Officer Bruce E. Page said, “Intracoastal‘s 2017 results far exceeded expectations and the Bank continues to perform significantly better than industry norms in all key areas of performance.  Intracoastal’s proven track record of strong financial results has positioned the Bank to offer our community a top quality, safe and sound, local alternative.  This elite level of performance also gives Intracoastal Bank the ability to continue to grow and make loans for the betterment of the local economy and community.”

Intracoastal Bank is a locally owned and operated financial institution. Intracoastal Bank’s Flagler County banking center is located at 1290 Palm Coast Parkway, NW, Palm Coast, Florida 32137. The Bank’s Volusia County Banking Center is located at 2140 LPGA Blvd., Daytona Beach, FL  32117. The Bank serves the Northeast and East Central Florida area. The bank offers a full range of deposit and loan products tailored to meet the needs of consumers and businesses in the community with convenient access through 24-hour ATMs, internet and mobile banking. The bank is a state charted commercial bank, member FDIC.

Corporate information and e-banking are available at www.intracoastalbank.net. They can be reached at 386-447-1662, or Facebook at https://www.facebook.com/intracoastalbank.

For further information, please contact:

Bruce Page
President & C.E.O.
unnamed.png

2140 LPGA Blvd.
Daytona Beach, Florida 32117
1290 Palm Coast Parkway NW
Palm Coast, FL. 32137
Office: 386- 449-0958
Fax:     386-447-1663
Cell:     386-864-0611
Email: bpage@intracoastalbank.net
Web:    www.intracoastalbank.net
Find us on Facebook: Intracoastal Bank

 

Search