Ocean Bank Posts a 37% Jump in Profit as Assets Hit a Record $7.6 Billion

MIAMI — One of South Florida’s homegrown banks is having a strong year. Ocean Bank, the Miami-based commercial lender, reported on Nov. 2 that its net income for the first nine months of 2026 reached $65.5 million, up 37% from the same period in 2025.

The bank also said its total assets hit a record $7.6 billion as of Sept. 30, an increase of $162.2 million since the end of last year.

For a market that has spent the past few years watching national and out-of-state banks pour into Brickell, Coral Gables and Doral, the numbers are a reminder that the region’s largest local players are still growing too.

The Numbers Behind the Headline

According to the bank’s announcement, the key figures as of Sept. 30 were:

• Net income: $65.5 million for the nine months, up 37% year over year.
• Total assets: $7.6 billion, a record, up $162.2 million from year-end 2025.
• Deposits: $6.3 billion, after growing $127.9 million during the third quarter.
• Stockholders’ equity: $736.6 million, up more than $39 million during the year.
• Tier 1 capital: $777.9 million, with a Tier 1 leverage ratio of 10.15%.

“Our increase in income and assets brought stockholder’s equity to $736.6 million, a growth of more than $39 million during the year,” said Agostinho Alfonso Macedo, Ocean Bank’s president, chairman and CEO, in the release.

The release also describes deposit growth as “an increase of 21 percent,” without spelling out what period that comparison covers. The bank did not break out loan growth, net interest margin or credit quality in its announcement, so the release doesn’t explain where the extra profit came from.

What the Capital Ratio Tells You

For business owners who bank locally, the capital figures may matter more than the profit number. A Tier 1 leverage ratio measures a bank’s core capital against its total assets. Federal regulators generally treat 5% as the threshold for a “well-capitalized” bank on that measure, so Ocean Bank’s 10.15% puts it at roughly double that cushion.

That cushion matters when a business is shopping for a credit line, equipment financing or a commercial real estate loan. Banks with more capital have more room to lend and are usually better able to absorb a downturn without pulling back on borrowers.

A Community Bank at Regional Scale

Ocean Bank describes itself as the largest independent, state-chartered commercial bank headquartered in Florida. Chartered in 1982, it runs 25 branches across Miami-Dade, Broward, Palm Beach and Orange counties, according to the company.

That puts it in an unusual spot. It is big enough to handle sizable commercial relationships, but it is still independent and locally headquartered at a time when much of South Florida’s deposit base sits with national giants. Recent coverage by citybiz highlighted the same results.

A Crowded Field Getting More Crowded

Ocean Bank’s results land in a busy week for South Florida banking. The South Florida Business Journal’s weekly banking roundup noted that Tropical Financial recently opened a new branch at 557 W. 49th St. in Hialeah.

Out-of-state banks are pushing in, too. In a sponsored profile in the Business Journal, WesBanco, a West Virginia–based bank, said it expects the assets of its Florida region to grow to $2 billion by the end of 2028, and that it plans lending offices and banking centers in West Palm Beach, Fort Lauderdale and Naples in the first half of 2027.

That competition is generally good news for borrowers. More banks chasing the same commercial clients can mean better rates, faster decisions and more attention for mid-sized companies that might get overlooked by the biggest institutions.

Why It Matters for Miami Entrepreneurs

Plenty of Miami founders default to a national bank or a fintech app when they open their first business account. But when a company needs a real credit relationship, such as a line of credit or a loan to buy a building, a local banker who knows the market can make a real difference.

Ocean Bank’s latest numbers show a lender with growing deposits, rising profits and a strong capital base. For small and mid-sized businesses weighing where to bank in 2027, that’s worth knowing.

The fuller picture will come when the bank’s detailed regulatory filings, which spell out loans, deposits and asset quality, are available. Business owners comparing banks can find those call reports through the FDIC and the Federal Financial Institutions Examination Council.