The Real Deal Miami

South Florida banks hurt most by housing market

September 19, 2008 03:29PM

Local banks in South Florida are facing more trouble from the housing
market than from the woes on Wall Street. A growing number of banks
have been forced to carry an increasing number of mortgage loans that
are past due or in default. Florida’s largest regional bank, the Coral
Gables-based BankUnited, was ordered by regulators to raise an
additional $400 million in capital, and is doing so by selling stock.