Florida Commercial Banks Continue To Collapse
The depressed Florida economy claimed three more commercial banks in the past two weeks. On July 23, 2010 the Sterling Bank of Lantana was closed. Its latest published report showed total assets of $407.9 million.
On July 30, 2010 Coastal Community Bank in Panama City and Bayside Savings Bank in Port St. Joe were closed. The former had reported $372.9 million in total assets while the latter had $66.1 million.
The above three closures brought to 20 the number of Florida chartered commercial bank failures in 2010. Unfortunately, many more Florida bank failures can be expected in the immediate future as the economic woes of Florida continue.
On July 30, 2010 Coastal Community Bank in Panama City and Bayside Savings Bank in Port St. Joe were closed. The former had reported $372.9 million in total assets while the latter had $66.1 million.
The above three closures brought to 20 the number of Florida chartered commercial bank failures in 2010. Unfortunately, many more Florida bank failures can be expected in the immediate future as the economic woes of Florida continue.
posted by Tarot Cardreader at 5:03 AM
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