Florida banks continue to show signs of improvement after a crippling recession, according to the second quarter ratings released this week by Bauer Financial.
Coral Gables-based Bauer, a highly respected ratings firm, gave 75.5 percent of banks in Florida a “recommended” rating during the second quarter of the year, up from 66.5 percent during the same time last year. In that time, the share of “troubled and problematic” banks dropped to 6.6 percent from 9.6 percent at the end of June 2015.
Twenty-six banks in Miami-Dade and Broward Counties earned the highest rating of five stars. Coral Gables-based Banesco USA rose to five stars from four in the first quarter of 2016.
The five-star rated firms were: American National Bank, Oakland Park; Apollo Bank, Miami; BAC Florida Bank, Coral Gables; Banco Do Brasil Americas, Miami; Banesco USA, Coral Gables; BankUnited, Miami Lakes; Biscayne Bank, Coconut Grove; City National Bank of Florida, Miami; Coconut Grove Bank, Miami; Continental National Bank, Miami; Desjardins Bank, Hallandale Beach; Eastern National Bank, Miami; Executive National Bank, Miami; First National Bank of South Miami, Miami; Florida Community Bank, Weston; Helm Bank USA, Miami; Intercontinental Bank, West Miami; Marquis Bank, Coral Gables; Mercantil CommerceBank, Coral Gables; Natbank, Hollywood; Pacific National Bank, Miami; Professional Bank, Coral Gables; Sabadell United Bank, Miami; Stonegate Bank, Pompano Beach; TerraBank, Miami; and TotalBank, Miami.
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Doral-based U.S. Century Bank and InterAmerican Bank both rose in the ratings from two stars to three. The troubled U.S. Century has been under the oversight of federal regulators since 2011, but that decree was lifted in April, allowing the bank to now operate independently.
Only three banks earned a two-star rating, considered “problematic” according to Bauer. Those were: Brickell Bank, Miami; Home Federal Bank of Hollywood, Hallandale Beach; and Optimum Bank, Plantation.
No local banks received one- or zero-star ratings.