The Real Deal Miami

South Florida banks teeter

September 28, 2009 09:28AM

Coral Gables bank analysis firm BauerFinancial said about one-third of banks operating in Palm Beach County and the Treasure Coast got ratings of “problematic” or worse in the second financial quarter 2009. Mortgage-backed securities portfolios remained a drag on overall financial health, analyst Karen Dorway said. Fort Pierce-based Riverside National Bank went from a four-star rating two years ago to a zero rating in the last quarter, the biggest decline in the area.