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Tampa Bay-Lakeland
Business Observer Friday, Nov. 4, 2011 8 years ago

Gulf Coast banks lose $34.9M

Banks in Southwest Florida lost $34.9 million through Sept. 2011.

Banks in Tampa Bay, Sarasota-Bradenton, and Fort Myers-Naples combined to lose $34.9 million through the first nine months of 2011.

The worst-performing metro area in the region thus far has been the Naples market, where banks are reporting a return on average assets of -2.77%. Naples banks have lost $12 million through the year's first nine months, including $5.3 million in losses reported by Bank of Naples.

Banks in Tampa-St. Petersburg-Clearwater combined to lose $20.2 million, but have a much larger asset base ($8.3 billion), resulting in a return on average assets of -0.50%. Florida Bank and recently-shuttered Old Harbor are the metro area's biggest losers, out $17.1 million and $9.9 million respectively so far this year. USAmeriBank and TCM Bank softened the region's loss picture by earning $6.1 million and $4.6 million in profits respectively.

The Bradenton-Sarasota-Venice has essentially broken even so far this year, with a small net gain of $920,000 (0.02% return on average assets). Community Bank & Co.'s $3.2 million in profits led the metro area, while Bank of Commerce has lost $2.6 million so far this year.

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