TotalBank Unveils New TotalFlex Residential Loan Offering

  • Banking , Alternative Finance
  • 31.10.2016 09:15 am

TotalBank announced the launch of TotalFlex, a new proprietary residential loan offering designed especially for South Florida borrowers with complex income structures, such as attorneys, physicians and business owners.

TotalFlex can be used for both purchases and refinances, providing the ability to address the evolving needs of local borrowers. TotalBank’s management team developed this program drawing on in-depth local market knowledge and expertise.

“As we move into 2017, it’s clear that the coming year will be one of opportunity for customer-centric innovators in the banking industry. As a leading community bank, TotalBank is particularly well positioned to serve South Florida’s professional community by offering customized products that assist with cash flow management and are founded in streamlined, highly personalized service,” said TotalBank President Jay Pelham.

TotalBank also announced third quarter earnings reflecting steady growth with earnings of $17 million in the first three quarters of 2016, already exceeding last year’s total earnings of $15.4 million. TotalBank saw asset growth of $80 million in the quarter equating to an eight percent year-over-year increase, total deposits growth of $81.6 millon, and net income of $6.9 million in the quarter. Positive loan activity was also reported with a year-over-year growth of $180 million (10 percent).

“TotalBank has been ranked among the healthiest banks in the country and we are putting our capital resources to good use by continuing to lend and invest in the South Florida community,” said Jose Marina, CFO of TotalBank.

For the fifteenth consecutive quarter, TotalBank maintained its 5-star rating from Bauer Financial, Inc., the leading source for unbiased and independent bank and credit union ratings. A 5-star ranking indicates that TotalBank is one of the strongest banks in the nation, excelling in areas of capital quality, asset quality, profitability and more

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