Tuesday, March 31, 2009
Bank ratings reveal turmoil
Century Bank of Sarasota was one of 19 Florida banks, and two local banks, rated "zero" by BauerFinancial Inc., a Coral Gables bank rating firm.
You can count the number of Southwest Florida’s profitable banks on one hand, and still have two fingers to spare.
Seventeen of the banks based in Sarasota, Manatee and Charlotte counties lost money in 2008. Only three managed to turn a profit.
In a year when the U.S. banking industry posted its first money-losing quarter since 1990, local banks continued to be battered by a slumping economy, stacks of bad loans and plunging real estate values...
Herald-Tribune: Bank ratings reveal turmoil
You can count the number of Southwest Florida’s profitable banks on one hand, and still have two fingers to spare.
Seventeen of the banks based in Sarasota, Manatee and Charlotte counties lost money in 2008. Only three managed to turn a profit.
In a year when the U.S. banking industry posted its first money-losing quarter since 1990, local banks continued to be battered by a slumping economy, stacks of bad loans and plunging real estate values...
Herald-Tribune: Bank ratings reveal turmoil
Permalink posted by markw @ 5:03 AM 
 |
 |  |
  |
