Healing Banks

Banks headquartered on the Gulf Coast are finally starting to look healthier.

From Pasco to Collier counties, a majority of the banks headquartered in the region reported greater profits in the first quarter compared with the same quarter a year ago, according to Federal Deposit Insurance Corp. data compiled by the Business Review (See bank charts at the bottom of the page).

Collectively, the 53 banks on the Gulf Coast reported net income of $52 million in the first quarter, a significant jump from the $14 million they reported in the same quarter in 2011.

The number of banks that were profitable grew, too. Thirty-nine banks reported profits in the first quarter compared with 27 banks in the same period last year.