Despite the disruption of business in south Florida as a result of numerous hurricane evacuations, third-quarter net income at TIB Financial Corp. in Naples rose 15%, to $1.3 million.
The $766 million-asset company said Thursday that its loan portfolio increased 21.1%, to $618.3 million, and deposits rose 17.6%, to $683.3 million, primarily because TIB was able to lure bankers away from its "major southwest Florida competitors" that are consolidating. In August, Fifth Third Bancorp of Cincinnati announced that it was buying a Naples company, the $4 billion-asset First National Bancshares of Florida Inc., for $1.58 billion.
Additionally, TIB's assets continued to grow because of the opening of six branches over the last several years in south Miami-Dade County and several southwest Florida cities.
