Community Bank of Florida posts 3Q loss

Investment losses, rather than bad loans, pushed Community
Bank of Florida
into the red in the third quarter. Even though the area around the
Homestead-based bank has been rocked harder by foreclosures than most places in
South Florida, it had relatively few problem
loans. But South Florida’s 22nd-largest local
bank, based on assets, took a $2.9 million charge in the third quarter for a
realized loss on its securities, mostly in preferred shares of Fannie Mae and
Freddie Mac.