An advantage of trusting United Capital Funding with your accounts receivable financing is that our parent company, Gulf Coast Bank & Trust, publishes its financial information.
We provide our financials as a courtesy to our clients so that you can rest assured your money is safe. Many of our competitors do not provide their clients with this luxury, so if they decided to close their doors tomorrow, you’d have no warning.
Click here to read Gulf Coast Bank & Trust Company’s 2024 annual report. Our statement of financial condition and operations are also reflected in the figures below.
| GULF COAST BANK ASSETS | 2024 | 2023 | CHANGE |
|---|---|---|---|
| Cash & Due From Banks | $208,997 | $196,113 | 6.6% |
| Investment Securities | $658,411 | $643,475 | 2.3% |
| Loans | $2,388,515 | $2,189,781 | 9.1% |
| Other Assets | $115,441 | $101,482 | 13.8% |
| TOTAL ASSETS | $3,371,364 | $3,130,851 | 7.7% |
| LIABILITIES & EQUITY | 2024 | 2023 | CHANGE |
|---|---|---|---|
| Deposits | $2,928,839 | $2,651,785 | 10.4% |
| Borrowings | $122,106 | $174,581 | -30.1% |
| Other Liabilities | $53,963 | $43,709 | 23.5% |
| Equity Capital | $266,456 | $260,776 | 2.2% |
| TOTAL LIABILITIES & EQUITY | $3,371,364 | $3,130,851 | 7.7% |
| STATEMENT OF OPERATIONS | 2024 | 2023 | CHANGE |
|---|---|---|---|
| Interest Income | $296,999 | $266,740 | 11.3% |
| Interest Expense | ($75,214) | ($52,770) | 42.5% |
| Loan Loss Provision | ($51,354) | ($26,327) | 95.1% |
| Non-Interest Income | $42,140 | $33,470 | 25.9% |
| Non-Interest Expense | ($201,995) | ($186,549) | 8.3% |
| Income Tax Expense | ($3,077) | ($8,402) | -63.4% |
| NET INCOME | $7,499 | $26,162 | -71.3% |