Business

Nineteen Miami-Dade, Broward banks receive highest rating; one gets lowest rating

Nineteen Miami-Dade and Broward banks received five stars — the highest possible — in the most recent ratings by Coral Gables-based BauerFinancial, based on June 30 results. All of the banks also scored five stars at the end of the first quarter.

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 just one local bank as “troubled and problematic,” giving it zero stars: Doral-based US Century Bank. OptimumBank of Plantation, which was rated zero stars the previous quarter, rose to one star, and Valley Bank of Fort Lauderdale’s deposits were purchased by Landmark Bank of Fort Lauderdale after it was shut down by regulators on June 20.

Overall, in Florida, Bauer’s latest ratings show 51.9 percent of banks based in the state are “recommended,” and 16.6 percent are “troubled and problematic” at the end of the second quarter, an improvement from 41.1 percent “recommended” and 27.7 percent “troubled and problematic” at the end of the second quarter of last year.

The upward trend is also reflected nationwide, as the percentage of “recommended” banks rose from 71.2 percent a year ago to 75.5 percent at the end of the second quarter, the highest percentage since the first quarter of 2007, Bauer said.

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