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TIB Financial Corp. reports second quarter loss
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Naples-based TIB Financial Corp. swung to a loss in the second quarter.
The company reported a net loss of $4 million, or 29 cents a share, compared to profits of $1.7 million a year ago.
As of June 30, the company had total assets of $1.58 billion, up 9 percent from the end of last year. Loans increased
$69.2 million, or 6 percent, from $1.13 billion on Dec. 31.
Deposits rose to $1.14 billion from $88.2 million at the end of last year.
“While our second quarter result is disappointing, it reflects our aggressiveness in addressing the impact of the current economic environment. The holding company, TIB Bank and The Bank of Venice remain financially sound and exceed all regulatory requirements for well capitalized financial institutions,” said Tom Longe, Chairman and CEO.
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If you have money in this bank beware! FDIC insurance only covers up to $100,000. Any more could be lost for good.
#1 Posted by FloridaBoy on July 24, 2008 at 8:06 p.m. (Suggest removal)
No, Marco Community Bank got the D- rating! Thats the bank you should worry about! RUN-
#2 Posted by wsdnaples1 on July 25, 2008 at 10:51 a.m. (Suggest removal)
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