Gulf Coast banks are buyers, too

Out-of-state banks aren't the only ones in the bidding for failed Gulf Coast banks, recently released FDIC bid summaries show.

Naples-based First National Bank of the Gulf Coast bid for Marco Community Bank when the small island bank failed on Feb. 19. And Tampa-based American Momentum Bank bid on all three Bank of Florida subsidiaries when they failed on May 28.

“We're always looking, but in today's environment you've got to make sure it's the right transaction,” says Gary Tice, chairman and CEO of First National. Mutual of Omaha Bank beat First National and four other banks for the assets and deposits of Marco Community.

Officials at American Momentum couldn't be reached, but it bid on the three subsidiaries of Bank of Florida, including Bank of Florida Southwest in Naples and Bank of Florida Tampa Bay. Jacksonville-based EverBank outbid American Momentum and four other banks for the Bank of Florida bank assets and deposits.