Grove Bank & Trust, Financial Information

About Grove Bank & Trust

 Address:
2701 South Bayshore Drive
Miami, FL
Miami-Dade County, Florida
 Established:
Jul 1926
 Number of domestic offices:
5
Total assets$861M
Net income$2M
Net income, quarterly$0M
Total deposits$695M
Domestic deposits$695M
Equity capital$121M
ROA0.22%
ROAQ, quarterly0.06%
ROA, pretax0.06%
ROAQ, quarterly, pretax0.03%
ROE1.52%
ROEQ, quarterly0.45%
UpdatedMay 20, 2021

Terms and Definitions

  • Domestic deposits
    The sum of all domestic deposits, including demand deposits, money market deposits and time deposits.
  • Equity capital
    Total equity capital (includes preferred and common stock, surplus and undivided profits).
  • ROA
    Return on assets, net income after taxes and extraordinary items (annualized) as a percent of average total assets.
  • ROE
    Return on equity, annualized net income as a percent of average equity on a consolidated basis.

Coconut Grove Bank was founded on July 12, 1926 and is the oldest continuously operating bank in Miami Dade County. In the mid-30s, the Bank was approached by Ralph and James Ryder, brothers who had been awarded a contract to take the mail from Lemon City (the original Port of Miami) to downtown Miami. The Bank provided the initial financing for what would become Ryder Trucks.

The Bank funded many other projects that have contributed to Miami Dade County's development and progress including: the funding of the W.T. Price Dredging Corp., which dredged the current Port of Miami , and many of the canals in the southern part of the county and the funding of the Parrot Jungle. From 1926, as a small bank refusing to be blown away by the hurricane that hit just weeks after it opened its doors, the Bank flourishes more than 80 years later. Its success is bolstered by the shared belief of its leaders past and present: a belief in the potential of South Florida, and in the opportunities the Bank makes possible for the residents and businesses who believe in it, too.

Financial strength and stability have been a Coconut Grove Bank hallmark. Locally owned and operated, Coconut Grove Bank has five offices in Miami-Dade County including Aventura, Coconut Grove, Coral Gables, Palmetto Bay and South Miami. Coconut Grove Bank has earned the reputation of being one of South Florida’s leading lenders by investing in you, your business and our community.

Phone: 1-800-528-2273, 24 hours a day, 7 days a week