“We are extremely gratified that our successful efforts at growing and increasing our capitalization and profitability are being recognized by the market,” President and CEO Mario Trueba said.
Sabadell United Bank earned $7.4 million in the first quarter of 2012, up from $6.7 million in the fourth quarter. It posted an increase in annualized return on equity to 6.62 percent.
Sabadell United Bank’s first-quarter Tier 1 risk-based capital ratio was 16.57 percent and Tier 1-to- average assets ratio was 10.18 percent, compared with the FDIC standard for a well-capitalized bank of 6 and 5 percent, respectively.
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Banco Sabadell, a global Spanish banking institution founded in 1881, has operated in Florida since 1993. Sabadell currently has a nationally-chartered bank and an international branch headquartered in Miami. Sabadell United Bank, a subsidiary of Sabadell, and Banco Sabadell, Miami Branch, provide a diversified array of financial products and services to professionals, commercial and corporate clients, international clients, affluent and high-net-worth individuals. At March 31, 2012, Sabadell Americas had assets of $6.1 billion in Florida. Sabadell United Bank had $4.0 billion in deposits and off-balance AUMs, ranking seventh in total deposits for all Florida-based banks, with 24 offices in Miami-Dade, Broward and Palm Beach counties, and in Tampa Bay, Naples and Sarasota.