Florida banks are getting healthier, report says
Florida banks are continuing to return to fiscal health after being battered during the recession, according to a quarterly report from Bauer Financial.
Coral Gables-based Bauer gave 74 percent of Florida banks a “recommended” rating for the first quarter of 2016, compared to 65 percent for the first quarter of 2015.
Meanwhile, the number of “troubled and problematic banks” in Florida fell from 9 percent last year to 8 percent this year, Bauer found.
In Miami-Dade and Broward counties, 25 banks earned the highest five-star rating.
They were: American National Bank, Oakland Park; Apollo Bank, Miami; BAC Florida Bank, Coral Gables; Banco Do Brasil Americas, Miami; 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.
At the other end of the spectrum, five local banks received two-star ratings, meaning they are considered in bad shape: Brickell Bank, Miami; Community Bank of Florida, Homestead; InterAmerican Bank, Miami; U.S. Century Bank, Miami; and Optimum Bank, Plantation.
No local banks received one- or zero-star ratings.
More than 65 Florida banks have failed since 2009, according to Bankrate.com.
Correction: An earlier version of this story misstated the ratings for Capital Bank, now headquartered in Raleigh, and Biscayne Bank. The banks each have five stars.
This story was originally published June 20, 2016 at 4:15 PM with the headline "Florida banks are getting healthier, report says."