GULF COAST BANK ANNOUNCES THIRD QUARTER EARNINGS
NEW ORLEANS, OCTOBER 26, 2012 – Guy Williams, President and CEO of Gulf Coast Bank and Trust Co., today reported that the bank experienced earnings of $5.78 million for the third quarter of 2012. This reflects a 54% increase over last year’s 2011 third quarter earnings of $3.75 million.
President Williams attributes the increase in earnings to good asset quality and the high demand for mortgage purchase and refinance loans. Additionally, there has been continued demand for new business loans through our small business lending department. Gulf Coast Bank recently partnered with the Small Business Administration to set up a disaster recovery center at their Business Center branch located in St. Bernard to assist businesses affected by Hurricane Isaac.
President Williams also announced two milestones; the opening of the bank’s 16th branch at 1901 Manhattan Blvd, in Harvey and the bank’s recognition as the largest Small Business Administration lender in the State of Louisiana.
They will be celebrating the Grand Opening of their 16th location with an event on November 8th. Encouraged by the economic vibrancy of the Westbank, Gulf Coast hired 6 new employees to start this location. “The team is very excited to be a part of the expansion. The bank has done great with its one branch in Terrytown and we hope to expand on that success,” said Stephen Dickey, Gulf Coast Bank’s Market President on the Westbank.
Gulf Coast Bank was recognized by the United States Small Business Administration as the largest small business lender in the state of Louisiana. President Williams said that he was very pleased that for four years in a row, the bank has led the state in small business lending.
Gulf Coast Bank & Trust Co. is headquartered in New Orleans and operates 16 full-service banking locations throughout Southeast Louisiana. For more information, visit www.gulfbank.com.