19 local banks win highest ratings
06/11/2014 3:15 PM
06/11/2014 3:16 PM
At the end of the first quarter of this year, 19 Miami-Dade and Broward banks received five stars — the highest possible — in the most recent ratings by Coral Gables-based BauerFinancial, based on March 31, 2014 results. Most of the banks also scored five stars at the end of the last year, although Apollo Bank and Coconut Grove Bank, both of Miami, rose to five stars from four stars previously, and Floridian Community Bank of Davie dropped to four stars at the end of the first quarter of this year, from five stars at year-end 2013.
Awarded the five-star “superior” rating were Miami-based Apollo Bank, Miami Lakes-based BankUnited; Biscayne Bank, based in Coconut Grove; Broward Bank of Commerce, Fort Lauderdale; Capital Bank, Coral Gables; City National Bank of Florida, Miami; Miami-based Coconut Grove Bank; Continental National Bank of Miami; Desjardins Bank, Hallandale Beach; Espirito Santo Bank, Miami; Executive National Bank, Miami; Florida Community Bank, Weston; Intercontinental Bank, West Miami; Marquis Bank, Coral Gables; Mercantil Commerce Bank, Coral Gables; Professional Bank, Coral Gables; Sabadell United Bank, Miami; Stonegate Bank, Fort Lauderdale; and TotalBank, Miami.
Bauer rated three Miami-Dade and Broward banks as “troubled and problematic,” giving them zero stars, down from four banks at the end of last year. The banks rated zero stars were: OptimumBank, Plantation; Doral-based US Century Bank; and Valley Bank, Fort Lauderdale. Great Florida Bank, which had received zero stars previously, was acquired by Florida Community Bank.
Ratings are based on such factors as profitability, capital, level of delinquent loans, charge-offs, repossessed assets and liquidity.
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