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January 28, 2012
PARADISE BANK HITS STRIDE IN SBA LOAN PRODUCTION
Bill Burke, President, announced today that Paradise Bank had reached a significant milestone in its six year history by becoming the top SBA community bank lender in the state of Florida. “We are extremely proud to assist in the rebounding of our local business community with the financial support to spur economic growth” stated Burke. “This truly shows how community banks can really make a big positive impact,” he proudly added.
Paradise entered the SBA market one year ago with the addition of Kevin Rafferty, SVP, to the bank’s management team. “Kevin continues to be a primary driver of quality loan production in Broward and Palm Beach counties” added Ward Kellogg, Chairman. “Our emphasis continues to focus on the owner occupied type of real estate, and we provide the borrower with the full array of superior banking products” he added.
The loan volume figures released by the Small Business Administration for the fiscal year ending September 30, 2011 show that Paradise reached the number one production slot for community banks in the state for 7a loans. Paradise Bank was also shown overall first in Palm Beach County and second place in Broward, the combined primary market. Burke and Kellogg saluted the efforts of the entire Paradise Bank family in achieving this most significant production recognition.
Kevin Rafferty can be reached at 561-392-5444 to discuss SBA programs with potential borrowers.
Paradise Bank, with total assets of approximately $300 million, is a full service community bank offering an array of commercial banking and retail services with offices in Boca Raton, Delray Beach and Ft. Lauderdale, Fl.
Paradise Bank Endorses Higher Education Philanthropy
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Notice of Changes in temporary FDIC insurance...
All funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012.
- 2012 CHARITY BILLFISH BLAST
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Paradise Bank and Mahogany Services Inc are proud to present the 2012 Charity Billfish Blast which will be held at the beautiful Ocean Reef Club.
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- Letter from the President
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RE: Paradise Bank posts 3rd Quarter profit and Exceeds "Well Capitalized" ratios
I am proud to announce our positive 3rd Quarter results and trends. The Bank's year-to-date net income was $1,479,000 a $2,300,000 turnaround from the loss reported over the same period last year and continuing the trend of increasing quarterly profits for 2011.
Paradise Bank has remained "well capitalized" throughout the "great recession" and has exceeded to newly targeted capital ratios for banks of 8% and 12%. Please note that banks only need to maintain 5% and 10% to be "well capitalized" and we far exceed these levels.
Asset quality also continues its positive trend as Paradise Bank is well below the national and state averages of non-performing loans. In fact, Paradise Bank currently has only 5 non-performing loans and only 3 pieces of bank owned real estate, which is very manageable for our bank at this time.
During 2011, we are particularly proud of the fact that we have become the "Top Community Bank Lender" in the entire state of Florida for SBA loans. This is very positive both for Paradise as well as the business community we serve in our markets. Simply put, by helping our local business community we are helping ourselves.
Our reputation as a strong supporter of our community is also well established as we continue to contribute and accept leadership roles with over 50 non-profit organizations within our local community.
Every Paradise Bank associate works extremely hard to deliver superior service that our customers have become accustomed to. It is this strong work ethic that has, and will continue to produce these positive results. Sincerely, William J. Burke President
- It’s All About the Kids…..
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We opened our doors for the first time six years ago not only committed to provide superior banking services, but also dedicated to our core value of giving back generously to the communities we proudly serve.
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At Your Service
Member FDIC | Equal Housing Lender
Member FDIC | Equal Housing Lender