The Real Deal Miami

FDIC loses $2 billion on Florida bank failures

August 24, 2010 10:30AM

The FDIC has lost more than $2 billion on bank failures in Florida this
year, following the closure of two banks outside of Tampa Aug. 20,
according to a new report from Condo Vultures. Regulators saw a combined
loss of $33.5 million Friday when Community National Bank at Bartow
closed, along with the shuttering of Independent National Bank in Ocala.
“Florida bank failures now account for 14 percent of the $66 billion in
overall losses realized by the FDIC since 2008,” said Peter Zalewski,
founder of Condo Vultures. “At this pace, another dozen Florida banks
could be shuttered in the remaining four months of 2010.” TRD