Sabadell United Bank: 2013-Q2 earnings release
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July 30 th , 2013 Media Contact Josh Merkin rbb PR [email protected] (305) 967-6667 SABADELL UNITED BANK REPORTS $7 MILLION IN NET INCOME FOR SECOND QUARTER OF 2013 MIAMI — July 30 th , 2013 — Sabadell United Bank today reported a net profit of $7 million for the second quarter ended June 30, President and CEO Mario Trueba announced. This quarter’s net profit is 7% higher than the bank’s 2013 first-quarter profit of $6.6 million. Sabadell United Bank reported $3.6 billion in assets as of June 30, while maintaining a high liquidity level. The bank’s first-quarter Tier 1 risk-based capital ratio was 17.69 percent and its Tier 1 to average assets ratio was 11.15 percent, well above the FDIC standards for a well-capitalized bank of 6 and 5 percent, respectively. “We are pleased with our second quarter earnings and where we stand mid-way through 2013. We are encouraged by our business generation and momentum,” said Mario Trueba, President and CEO. He added, “our pipeline of new opportunities for both the bank and wealth management business is quite sound heading into the second half of the year.” Sabadell United Bank, headquartered in Miami, Florida, is a locally-managed, nationally- chartered banking institution. The bank has 23 locations throughout the state, serving more than 35,000 clients, and is the fifth largest bank based in Florida ranked by deposits within the state. Bauer Financial Reports recognized the financial strength of the bank by awarding the bank its “Superior” five-star rating, the highest available. Sabadell United Bank is recognized as the trusted financial advisor for professionals and businesses as well as domestic and international high-net-worth individuals.
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Sabadell United Bank today reported a net profit of $7 million for the second quarter ended June 30, President and CEO Mario Trueba announced. This quarter’s net profit is 7% higher than the bank’s 2013 first-quarter profit of $6.6 million.
Transcript of Sabadell United Bank: 2013-Q2 earnings release
July 30th, 2013 Media Contact
Josh Merkin rbb PR
[email protected] (305) 967-6667
SABADELL UNITED BANK REPORTS $7 MILLION IN NET INCOME
FOR SECOND QUARTER OF 2013
MIAMI — July 30th, 2013 — Sabadell United Bank today reported a net profit of $7 million for the second quarter ended June 30, President and CEO Mario Trueba announced. This quarter’s net profit is 7% higher than the bank’s 2013 first-quarter profit of $6.6 million. Sabadell United Bank reported $3.6 billion in assets as of June 30, while maintaining a high liquidity level. The bank’s first-quarter Tier 1 risk-based capital ratio was 17.69 percent and its Tier 1 to average assets ratio was 11.15 percent, well above the FDIC standards for a well-capitalized bank of 6 and 5 percent, respectively. “We are pleased with our second quarter earnings and where we stand mid-way through 2013. We are encouraged by our business generation and momentum,” said Mario Trueba, President and CEO. He added, “our pipeline of new opportunities for both the bank and wealth management business is quite sound heading into the second half of the year.” Sabadell United Bank, headquartered in Miami, Florida, is a locally-managed, nationally-chartered banking institution. The bank has 23 locations throughout the state, serving more than 35,000 clients, and is the fifth largest bank based in Florida ranked by deposits within the state. Bauer Financial Reports recognized the financial strength of the bank by awarding the bank its “Superior” five-star rating, the highest available. Sabadell United Bank is recognized as the trusted financial advisor for professionals and businesses as well as domestic and international high-net-worth individuals.
