Banking

Florida banks are getting healthier, report says

Florida banks are on a sounder financial footing in 2016, according to Bauer Financial.
Florida banks are on a sounder financial footing in 2016, according to Bauer Financial. El Nuevo Herald

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.

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