Tuesday, October 23, 2018
Business

Tampa Bay has a healthy banking landscape

Tampa Bay banks are looking about as solid as they’ve ever been.

In Bauer Financial’s latest quarterly ranking of the health of commercial banks, not a single area bank rated as a zero-star (which indicates severe financial problems), one-star (troubled) or two-star (problematic).

In fact, in the 0-to-5 scale that the banking industry research firm assigns to financial institutions, the lowest-ranked bay area bank was Century Bank of Florida with three stars (which means adequate).

Most of the commercial banks here now have the stamp of approval with either four stars (excellent) or five stars (Superior).

Just four banks statewide are currently zero stars: two in Fort Walton Beach, one in Mayo (east of Lake City) and one in Orange City (north of Orlando).

Flash back six years ago and 42 Florida banks rated zero star and in serious financial trouble.

During the Great Recession, Florida was leading the country in bank failures and at one point, a fourth of all its banks were deemed severely troubled.

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