Brown Shipley is seeking to take on more staff and may look to make acquisitions after strong growth for the business in 2013.
The firm's profit before tax tripled between 2012 and 2013, from £2.3m to £7m, thanks to increased net fees and commision income and lower impairment and provision charges.
The private bank also reported a 12% rise in funds under management over the year, to £3.1bn compared to £2.8bn in 2012. The majority of funds are managed on a discretionary basis.
Brown Shipley said it is actively seeking to expand through the hire of relationship managers, or by acquiring businesses which provide a good cultural fit.
The group's annual report stated: "The company is optimistic about its future prospects and will continue to develop the business organically and semi-organically by attracting new private bankers and investment managers.
"In addition, supported by its ultimate shareholder it will look for suitable acquisitions which will enhance the overall quality of the business."
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