Ocean Bankshares Inc.

Miami's Ocean Bank, a subsidiary of Ocean Bankshares Inc, has dismissed 104 employees recently, a move aimed at restoring profitability after suffering losses on rising bad loans. According to a spokesman for the bank, all the departments have been affected by the job cuts. The largest independent, state-chartered commercial bank headquartered in Florida, Ocean Bank was hard hit by the housing crisis due to its focus on real-estate loans.