Naples, FL – October 20, 2011 Encore National Bank has released financial results for its fiscal 2011 third quarter ending September 30, 2011. The bank is extremely pleased to announce that it has recorded a quarterly profit just three quarters after commencing operations in Southwest Florida. Highlights for the period include:
• Net profit of $303 thousand for the third quarter.
• Encore National posted record third quarter loan growth.
• The bank had total assets of $243 million
• Bank remains “Well Capitalized” – as measured by regulatory guidelines
“We are very proud of this accomplishment,” said Encore National Bank CEO Tom Ray. “It is rare for a community bank to reach profitability in such a short period of time. The fact that we recorded a profit less than a year after opening reflects on our commitment to our customers and the communities we serve.”