It certainly has been a couple of interesting and challenging years. Here in Paradise, we have overcome all of the challenges we faced and posted the best year in our history. As you will see from the unaudited results below, we are well-capitalized, very profitable, and have zero problem loans:
Unaudited 2021 Year-End
- Return on Assets: 2.82%
- Return on Equity: 30.02%
- Net Interest Margin: 4.24%
- Total Risk-Based Capital Ratio: 14.22%
- Non-Performing Loans: 0.00%
- Reserve to Total Loans: 1.03%
These results are very stout and place us in the top 2% of all banks in the country! According to Hacker Johnson Smith, a CPA and consulting firm which ranks banks in Florida, Paradise Bank is #1 in the State in terms of return on assets and #1 in return on equity. We are truly blessed because our staff was able to achieve these results while also being able to continue our philanthropic practices of being involved with over 60 different non-profit organizations throughout Palm Beach and Broward Counties.
Over the past couple of years, Paradise Bank has provided over 600 PPP loans and approved over $100 million in SBA loans, both of which helped support and create over 7,000 jobs in Florida! Our staff is very hardworking, conscientious, and happy to provide the best darn service in banking today.
Paradise Bank continues to be locally owned and managed by people who have been in the South Florida community for over 40 years. Our personnel are not only dedicated to their profession here in Paradise but also to the betterment of the community in which we live. That’s community banking at its best!