Encore Bank is pleased to announce that Ovation Holdings, through its wholly owned subsidiary, Encore Bank, reported record operating performance for the third quarter. Ovation Holdings reported a 58% growth in year-to-date income before tax, up $508,000 to $1,385,000. The bank grew net loans by a record $26.1 million during the quarter, ending at $279.5 million and surpassing last quarter’s all-time high. A combination of top-line revenue growth and expense management accounts for the year-to-year jump. Total assets increased from $342.5 million to $383.3 million.
Tom Ray, CEO of Encore Bank said, “Encore Bank continues to focus on helping local businesses in Southwest Florida grow. Our mission as a community bank is to help support these local businesses by providing financing, deposit services and treasury management.”
Encore Bank has six convenient locations, including two branches in Naples at 3003 Tamiami Trail North and 2370 Vanderbilt Beach Road, Bonita Springs at 4450 Bonita Beach Road, Fort Myers at 7920 Summerlin Lakes Dr., Port Charlotte at 2120 Kings Highway, and Sun City Center at 1653 Sun City Center Plaza.
For more information, call 239.919.5888 or 239.594.3177 in Naples, 239.495.0243 in Bonita Springs, 239.278.5505 in Fort Myers, 941.258.3055 in Port Charlotte, or 813.634.8001 in Sun City Center, or visit www.encorebank.com.