NEW ORLEANS (February 8, 2022) – Today, Gulf Coast Bank & Trust Company President and CEO, Guy T. Williams, announced record growth for year ended December 31, 2021. President 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 one of the leading providers of Small Business Administration 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 |
| Non-interest Income |
$52,890 |
$54,634 |
| Net Income, pre-tax |
$28,427 |
$61,675 |
About Gulf Coast Bank & Trust Company:
