The Real Deal Miami

Regulators seized 14 Florida wh

July 06, 2010 11:15AM

EverBank has taken over the former Bank of Florida

Federal regulators seized eight Florida banks with combined assets of
$6.3 billion in the second quarter of this year, according to a new
Condo Vultures white paper. The seizures generated a loss of almost $1
billion for the FDIC’s insurance recovery fund. There are now 14 Florida
banks that have failed in the first six months of 2010, according to
the report, which is based on FDIC data. Among the banks to fail was the
Bank of Florida in Fort Lauderdale, with approximately $595.3 million
in assets. Jacksonville-based EverBank has agreed to assume all
deposits, excluding certain brokered deposits. TRD