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Banks in the three major metro areas covered by the Business Review lost a combined $134.1 million in the fourth quarter of 2010, according to a report by Saltmarsh, Cleaveland & Gund, PA.
Nearly a quarter of the entire region's net loss came from one bank. Florida Bank, based in Tampa, lost $42.3 million according to data from SNL Financial. Overall, banks in the Tampa-St. Petersburg-Clearwater market combined to lose $74.0 million in the quarter.
American Momentum Bank had the best performance among Tampa Bay banks in terms of total profits, having earned $9.7 million in net income.
Banks in Fort Myers, Naples, Cape Coral and Marco Island combined to lose $44.7 million. Two banks in particular did most of the damage: Bank of Naples, which lost $25.7 million, and Royal Palm Bank of Florida, which lost $10.6 million.
In the Bradenton-Sarasota-Venice market, banks lost $15.4 million. Florida Shores Bank-Southwest and First America Bank were both profitable, but LandMark Bank of Florida and Bank of Commerce each lost more than $6 million.
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