Florida Shores earnings up 43%

VENICE — Florida Shores Bank earned $246,000 in net earnings in the first quarter of 2011, up 43% from its performance at the beginning of 2010, according to a release issued by the Venice-based institution.

Over the past 12 months, the bank's assets have grown by 44%, from $195 million to $281 million. Most of that growth is the result of increased deposits, which total roughly $80 million over the past year, the bank says.

Florida Shores was founded in late 2007, and is led by president and CEO Jim Kuhlman. The Business Review recently named Kulhman its Entrepreneur of the Year for the Sarasota-Manatee region.