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Business Observer Wednesday, Oct. 27, 2010 11 years ago

Florida Shores passes $1M mark

Through September, the Venice bank has earned $1 million in profits.

Florida Shores Bank earned $308,000 in the third quarter of 2010, the company announced today. That gives the Venice-based bank a total of $1.1 million in profits through the first nine months of 2010.

In the first nine months of 2009, the bank lost $656,000.

The bank, which will have been open for three years as of Nov. 26, now claims a 1.04% market share in Sarasota and Charlotte counties, as opposed to the 0.65% of the market it served a year ago. Since September 2009, the bank has added $53 million in deposits.

Florida Shores Bank received a four-star rating from Bauer Financial last month.

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