These results place Flagler Bank in the top 2% of Florida banks on Average Return on Equity and in the top 4% of Florida banks in Return on Average Assets. The Bank also grew to record over $200 million in assets by year end.
The Bank’s reported income represented a 27% increase over the reported earnings from the previous year. The assets grew by 33% during the year. Edward Sterling, President and CEO, commented, “During the year we recognized strong loan and deposit growth while significantly reducing old, nonperforming assets.” Flagler Bank’s Chairman, Ronald Y. Schram, stated “Our directors, management team, and every member of our dedicated staff helped contribute to the Bank’s success.”
Beginning in 2016, Flagler Bank has added a residential lending department capable of meeting local needs for home purchase, refinancing, and home equity loans. “We are excited about the addition of our residential lending platform as it allows us to more completely meet the needs of the community,” stated Mr. Sterling.
The growth of assets and capital will allow Flagler Bank to continue to increase opportunities to make loans to businesses and professionals throughout South Florida. The Bank’s principal business activities include relationship banking, commercial and residential real estate lending. Flagler Bank can meet all of your business borrowing needs from a $25,000 equipment purchase to a $10 million business or real estate purchase. Flagler Bank prides itself on personal service and prompt local decision making.
Flagler Bank is a locally owned community bank headquartered in Palm Beach County, Florida, with two full service branch banking offices located at 555 Northlake Blvd., North Palm Beach and 1801 Forest Hill Blvd. in Lake Clarke Shores, Florida.