Thirteen Florida banks, including Synovus Bank of Tampa Bay, have been singled out on an updated watch list of troubled banks.
TheStreet.com Ratings Inc. targeted Florida for its update, reasoning that the state has been “on the forefront of the residential real estate calamity.”
First Priority Bank of Bradenton posted the worst loan quality and lowest capital ratios on the list. “The institution had a very bad first quarter, with nonperforming assets rising to 15.65 percent of total assets and a net loss of $3-million — its sixth straight quarterly loss,” wrote Philip van Doorn, a senior analyst for TheStreet.com Ratings.
Filed under: Business | Tagged: banking, bankruptcy, Business, depression, Florida Bank, insolvency, insurance, poverty, Synovus Bank
