The Real Deal Miami

Reserves add to U.S. Century Bank

November 10, 2008 10:44AM

Reserving money to cover problem loans caused third-quarter income at
U.S. Century Bank to fall to $85,462. The Miami-based bank set aside
$1.4 million for loan losses. CEO Octavio Hernandez said in a statement
that the bank remains profitable and well capitalized. Loans have grown
year-over-year by 41 percent and deposits by 59.7 percent. The company
operates 21 branches.