Biz Buzz: Intracoastal Bank announces 2017 results

Also in the Observer: New hires and promotions.

By Ray Boone
| 11:00 a.m. January 23, 2018

Palm Coast Observer
Business

Intracoastal Bank announced its financial results for the year, according to a news release:

Total assets at Dec. 31, 2017 were $314.8 million, up $30.3 million, or 11%, from $284.5 million at Dec. 31, 2016.
Total deposits at Dec. 31, 2017 were $285 million, up 27 million, or 10%, from $258 million at Dec. 31, 2016.
Total loans at Dec. 31, 2017 were $198.5 million, up 22.4 million, or 13%, from $176.1 million at Dec. 31, 2016.
Net income for the full year 2017 increased by 19% from the full year 2016.

“Intracoastal‘s 2017 results far surpassed expectations and the bank continues to perform significantly better than industry norms in all key areas of performance,” CEO Bruce Page said in a release. “Intracoastal’s proven track record of producing strong financial results has positioned the bank to grow and make loans for the betterment of the local economy and community.”

New hires and promotions

CPA Chimerre A. Lawrence was recently added to the team at the local accounting firm Keyes, Stange and Wooten CPA Firm, according to a news release. As staff accountant, she assists the firm with corporate and individual tax preparation and accounting services functions.
Grand Living Realty’s CEO, Lindsay Dolamore, announced the addition of Joan Paulus to its sales team, according to a news release. Paulus previously worked as a hiring recruiter for GE and Cablevision for more than 20 years.
The owner of Artesian Pools, Roy Lenois, promoted Angie Montero to office manager, according to a news release. Montero was originally hired as a scheduler for the business three years ago and most recently served as its office clerk.