The Real Deal Miami

Florida banks feel stress test fallout

May 08, 2009 11:14AM

Florida based banks rose to their performance heights during the mortgage boom, and now are suffering the effects of the crash with twice the severity. Florida-based banks on average shoulder double the level of bad loans nationally, and analysts believe more pain will come before they improve. Michael Rose, a bank analyst with Raymond James & Associates in Tampa, said commercial real estate trouble will still affect the state and banks will suffer accordingly.