Gulf Coast Bank Announces Record Growth
NEW ORLEANS – From Gulf Coast Bank & Trust Company:
Gulf Coast President and CEO Guy T. Williams has announced record growth for year ended Dec. 31, 2021. Williams attributed the record growth to, among other things, very strong results in home mortgage lending and education services. The bank is one of the largest home loan originators in South Louisiana and the largest lender to first time homebuyers in the New Orleans metro area.
In a very difficult year, the bank and our community faced the challenges of COVID-19, inflation, and Hurricane Ida recovery. The bank helped retail customers with rebuilding and receiving hurricane deductible loans. For business customers, the bank was one of the leading payroll protection lenders and the largest provider of Small Business Association loans in Louisiana.
The chart below includes balance sheet and income statement highlights from December 2020 to December 2021:
|BALANCE SHEET HIGHLIGHTS||December 2020||December 2021|
|Shareholders’ Equity (thousands)||$193,053||$234,639|
|Book Value per share||$687.94||$836.13|
|Net Loans (thousands)||$1,770,749||$1,774,619|
|Total Assets (thousands)||$2,296,578||$2,823,154|
|INCOME STATEMENT HIGHLIGHTS||2020 YTD (thousands)||2021 YTD (thousands)|
|Interest & Fee Income||$141,119||$173,041|
|Net Interest Income||$125,807||$163,495|
|Net Income, pre-tax||$28,427||$61,675|
With over $2.8 billion in assets, Louisiana-based Gulf Coast Bank & Trust Company serves its business and personal banking clients through its branches, loan production offices, trust and investment offices and business credit offices. It also offers business credit nationally through Gulf Coast Business Credit. Gulf Coast Bank & Trust Company has 19 branch locations across Southeast Louisiana and more than 45 total locations in 13 other states. For more information about Gulf Coast Bank & Trust Company, visit gulfbank.com.