Twenty-two banks in Miami-Dade and Broward counties earned the highest possible rating of fives stars from Bauer Financial for the third quarter of 2015.
Almost all of the banks had also received five stars in Bauer’s closely watched ratings for the previous quarter. The only newcomer was American National Bank, Oakland Park, which jumped from four stars to five.
The other banks that received a “superior” rating of five stars were: Apollo Bank, Miami; BAC Florida Bank, Coral Gables; BankUnited, Miami Lakes; Biscayne Bank, Coconut Grove; Capital Bank, Coral Gables; 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; Intercontinental Bank, West Miami; Marquis Bank, Coral Gables; Mercantil CommerceBank, Coral Gables; Pacific National Bank, Miami; Professional Bank, Coral Gables; Sabadell United Bank, Miami; Stonegate Bank, Pompano Beach; TerraBank, Miami; and TotalBank, Miami.
68 Percentage of Florida banks given a “recommended” rating by Bauer Financial
Five local banks received one- and two-star ratings, meaning they are considered “troubled” or “problematic.” They were Brickell Bank, Miami; Community Bank of Florida, Homestead; InterAmerican Bank, Miami; U.S. Century Bank, Miami; Optimum Bank, Plantation.
Home Federal Bank of Hollywood, Hallandale Beach, was downgraded from one star to no stars.
The financial crisis and housing market crash shattered Florida’s banking industry. Nearly 70 banks have failed in the state since 2009.
But the latest Bauer rankings show Florida banks are improving. Bauer gave 68 percent of Florida banks a “recommended” rating for the third quarter of 2015, compared to 57 percent for the third quarter of 2014. And the percentage of Florida banks considered “troubled and problematic” declined from 15 percent to 8 percent year over year.