The Real Deal Miami

Florida misses banking recovery

November 24, 2010 10:26AM

While most banks nationally saw a recovery in the third quarter, those
in Florida did not see the same level of success. Many local banks have
been unable to shake out of the recession. According to data from the
FDIC, Florida-chartered banks lost a total of $92 million in the third
quarter, with 61 percent of them still in the red. While that was an
improvement from a loss of $289 million in the previous quarter, it was
still short of the national trend. Combined, only 19 percent of banks
nationwide lost money, while jointly earning $14.5 billion in the
third quarter. [SFBJ]