OCEAN BANK
ANNOUNCES NEW PROMOTIONS

Miami, FL – July 7, 2006 – Ocean Bank, the largest independent commercial bank headquartered in the state of Florida announces new promotions. Recently promoted to senior vice presidents are Ivan Castañeda, Nelson Hidalgo, Guillermo Molina and Barbara Morizot-Leite.

Ivan Castañeda, SVP and Asset-Based Lending/Factoring Manager for Ocean Bank, manages the daily activities of these two departments, which administer the following lending products: Domestic and Insured Foreign Accounts Receivable and Inventory Financing, Accounts Factoring, Motor Vehicles Floor Plan, Residential Mortgage Warehousing, and Tax Certificates. He joined Ocean Bank in 1986 as a credit analyst after he graduated from Louisiana State University with a Bachelor and Master degree in Finance.

As a SVP and Corporate Banking Officer for Ocean Bank, Nelson Hidalgo is responsible for business development in the corporate and real estate lending departments where he oversees large loan and depository portfolios. Hidalgo joined Ocean Bank in 1995 as a credit analyst. He received a Bachelor degree in business administration with a concentration in marketing and international business from Florida International University.

A seasoned Real Estate Officer and SVP at Ocean Bank, Guillermo J. Molina has more than 20 years of real estate banking experience in South Florida. He manages an extensive real estate loan portfolio for the bank. He began his career at Ocean Bank in 1991 and was previously at Capital Bank and Intercontinental Bank. Molina received a Bachelor degree in business administration from Florida International University.

Barbara Morizot-Leite is SVP and Cash Management Manager for Ocean Bank. She is responsible for managing daily sales, customer service, new product implementation, automation and servicing of cash management services. Morizot-Leite joined Ocean Bank in 1997 and was previously with Capital Bank. She graduated from Florida International University with a Bachelor degree in business administration. Morizot-Leite is a member of the Association for Financial Professionals.

Ocean Bank is the largest independent commercial bank headquartered in the state of Florida, with more than $5.8 billion in assets and $5.1 billion in deposits. Chartered in 1982, Ocean Bank operates a network of 21 branches throughout Miami-Dade and Broward counties. Since its inception, Ocean Bank has impacted education in our community by making substantial contributions to Florida International University, Miami Dade College, the United Negro College Fund, the Education Fund and many other education-related initiatives. Acknowledging its support, Ocean Bank has received numerous awards and accolades from the Beacon Council, the Greater Miami Chamber of Commerce and the Florida Department of Education.