Florida banks are becoming more stable and productive, according to ratings released Friday by Coral Gables-based BauerFinancial.
The number of Florida banks with a “recommended” rating from Bauer rose to 81.2 percent in the third quarter of 2016, compared to 68.3 percent in the third quarter of 2015. Over the same time, the number of “troubled and problematic banks” declined from 7.9 percent last year to 6 percent today.
Florida was the epicenter’s of the nation’s banking bust during the financial crisis. More than 65 banks in the state have failed since 2009, according to Bankrate.com.
Twenty-nine banks in Miami-Dade and Broward counties were awarded Bauer’s highest five-star rating in the third quarter.
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They 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.
The three banks that improved from four stars to five were Intercredit Bank, Ocean Bank and Sunstate Bank.
Florida Community Bank, Davie, rose from three 1/2 stars to four.
Only three banks earned a two-star rating, considered “problematic” according to Bauer: Brickell Bank, Miami; Home Federal Bank of Hollywood, Hallandale Beach; and Optimum Bank, Plantation.
No South Florida banks received one- or zero-star ratings.