NEW ORLEANS – Gulf Coast Bank & Trust Company, New Orleans’ largest locally-owned bank, announced record earnings for the third quarter of 2017.
Among the significant milestones, Gulf Coast Bank & Trust Company grew to $1,631,000,000 in total assets, a 10 percent increase over last year. Loans grew by 11 percent to total $1,287,000,000. Pretax earnings for the nine months through September 2017 totaled $24,205,000 compared to $17,078,000 for the same time period in 2016, a 41 percent increase.
“These significant gains were attributed to a greater customer demand for both the bank’s Trust and Wealth Management businesses,” said Guy T. Williams, president and CEO. “The loan growth was a result of an increase in small business startups, mortgage loans and other small business loans. The significant increase in mortgage loan volume is largely due to the bank’s ability to offer individuals and realtors highly individualized mortgage loan solutions coupled with an expedited closing process.”
The chart below includes balance sheet and income statement highlights from September 2016 – September 2017:
Gulf Coast Bank & Trust Company has invested in new technology that provides identical customer experience across all platforms from phone to iPad to desktop, bank reps said. This technology investment allows Gulf Coast Bank & Trust Company to compete with even the biggest banks, they said.
