Message to Ocean Bank Customers
From A. Alfonso Macedo
Ocean Bank’s CEO and President

As President and Chief Executive Officer of Ocean Bank I would like to thank you for your business and your support. While I took over this position in January of this year, I have been involved with the bank almost since its inception more than 25 years ago. Through the years, Ocean Bank has come to represent financial strength, customer service and support for the community.

With $4.8 billion in assets, Ocean Bank is the 12th largest bank holding company in Florida and the 5th largest bank in Miami-Dade County where we have the majority of our branches. During just 5 years, we reported profits in excess of $300 million, which were all retained in the bank. Ocean Bank has a sound capital ratio of 13.66%, which is well above regulatory requirements.

As you are well aware, the real estate market has experienced some difficult times. Like most other banks, Ocean Bank has been impacted by these market conditions. In mid 2007, we recognized the issues and made the appropriate financial adjustments. The long-term strategy of our shareholders to retain earnings in the bank has allowed Ocean Bank to remain extremely well capitalized throughout this period. Our position is further bolstered by the fact we do not have any of the highly publicized "sub-prime" loans on our books.

Ocean Bank continues to enjoy a very strong financial position, both in terms of capital and high liquidity. While our financial performance has not stacked up to our historical trends, as is the case across the entire banking spectrum, we are in a safe, secure position. We are excited about our future, and I want to make sure you know we are here for the long term.

I want to thank you for your business, your loyalty and your support, and invite you to contact your personal banker, myself, or our Chief Operating Officer Terry Curry if you have any questions or issues you would like to discuss.

Sincerely,
A. Alfonso Macedo
President and CEO