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January 31 , 2014
Media Contact Ana Ordonez Senior Marketing Manager ordonezana@sabadellbank.com (305) 351-4317
SABADELL UNITED BANK REPORTS $45 MILLION IN NET INCOME FOR THE YEAR ENDED DECEMBER 31, 2013 MIAMI — January 31st, 2014 — Sabadell United Bank today reported net income of $44.9 million for the year ended December 31, 2013. This represents a 50% increase from the $30.0 million in net income reported for the same period last year. This figure includes a one-time benefit attributable to a tax basis change that the bank recorded in the previous quarter. Sabadell United Bank reported $3.9 billion in assets as of December 31, 2013, having grown 4% since last year, while maintaining a high liquidity level. The bank’s total loan portfolio reached $2.6 billion, up 19% from the previous year, and deposit balances reached $3.1 billion, up modestly from a year ago. The bank’s year-end Tier 1 risk-based capital ratio was 15.60 percent and its Tier 1 to average assets ratio was 11.06 percent, well above the FDIC standards for a wellcapitalized bank of 6.00 and 5.00 percent, respectively. “We completed a strong year with real loan growth momentum in the latter half leading us to significant profits, all the while maintaining very solid capital ratios. We grew deposits wisely by strengthening relationships with our professional clients through our new Partner Banking program,” said Mario Trueba, President and CEO. He added, “We are excited for 2014 as it will be another year of expansion, both organically and via our announced acquisition of JGB Bank. The crux of our success and growth is and continues to be our focus on providing exceptional service to our clients.” Sabadell United Bank is a locally-managed, nationally-chartered banking institution with 23 locations throughout Florida, serving more than 35,000 clients. It is recognized as the trusted financial advisor for professionals and businesses as well as high-net-worth individuals. Sabadell consistently ranks as one of the most well capitalized banks in the state and is rated 5 stars by Bauer Financial for its financial stability. The bank’s devotion to its clients is matched by its commitment to the local community which is visible through its extensive charitable and civic involvement.
Sabadell also has a Branch of Banco de Sabadell S.A. (Spain) that operates in Miami as a full International Branch. The International Branch provides a wide range of banking services via its two lines of business, International Corporate and Private Banking. Sabadell’s International Branch currently manages $4.0 billion in client assets and $1.4 billion in loans. Together, Sabadell United Bank and Sabadell’s International Miami Branch manage $8.0 billion in client assets.