The Real Deal Miami

Crippled Corus warns of collapse

May 20, 2009 12:13PM

Corus Bankshares, crippled by a series of bad loans to failed Florida condo developments, must file a plan for restoring its capital levels with federal bank regulators. In February, bank regulators placed restrictions on management and ordered the bank holding company to raise its capital level by June 18. Corus said only one of its Florida condo projects was not in foreclosure, and reported a quarterly loss of $285 million.