TIB Shows Increase

TIB Financial Corp, also known as TIBB, was happy to report that their TIB Bank was showing increases in both their assets and their car and home loan growth. The bank, a Florida community bank in the Naples area, Highlands County, South Miami-Dade County, Bonita Springs-Fort Meyers Area, as well as the Florida Keys, was happy that they had such increases.

For the quarter ended March 31st, the bank had a net income of $1.87 million which was an increase over the fourth quarter last year, although down from first quarter last year. However, even though the bank is showing a decrease from beginning of last year, they are showing an increase from end of last year, which could suggest an upward trend.

They are showing a 14% asset growth and an 11% loan growth over the course of the quarter. The bank handles car loans, mortgages, etc. – and their loan portfolio increase will assist the bank in turning around what could seem to be a lull in the loan market. With interest rates being what they have been, it is only natural to assume that car loans and mortgages would be lower than usual.

Their loan growth increase has brought them to $1.04 billion, which is up from $935 million a year ago. It is slightly lower from where they were in December, at $1.06 billion – but again, to be expected after the holidays.

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