Bank ends year on loan surge

NAPLES — Encore Bank posted a strong fourth quarter, particularly in loans, the continuation of a yearlong trend.

The Naples-based bank grew its loan portfolio $13.9 million during the quarter, to end the year at $296.5 million, according to a statement. Encore grew net loans by $26.1 million in the third quarter, the release adds.

For the year, the bank loaned $47.1 million more than it did in 2015, up 18.8%.

Encore had $381.9 million in assets through Sept. 30, according to Federal Deposit Insurance Corp. data. “We ended 2016 well capitalized and continue to see the benefit of our larger loan portfolio, low funding costs and expense management,” Encore President and CEO Tom Ray says in the statement. “Our primary focus for 2017 is quality loan growth.”

Encore has six locations in the region, spread from Sun City Center to Naples.