Friday, January 19, 2018
Business

Three-fourths of all Florida banks 'recommended' as troubled banks dwindle

Florida has come a long way from the Great Recession era, when it was leading the country in bank failures and a fourth of all its banks were severely troubled.

About 75 percent of banks statewide made the "recommended" cut in Bauer Financial's latest ratings update while only 6.6 percent are considered "troubled and problematic." That's up from a year ago, when 66.5 percent were recommended and 9.6 percent were in the troubled category.

Nationally, 85.6 percent of banks made Bauer Financial's recommended list while a mere 2.8 percent received a "troubled" rating.

Overall, however, credit unions continue to outperform banks in financial stability. Almost 92 percent of the state's credit unions were recommended, which is better than the national average just over 80 percent.

Coral Gables-based Bauer rates financial institutions on a five-star system, with five stars indicating superiority and two-stars and below in the problem range.

To check how your institution fared, go to bauerfinancial.com and click on the latest ratings.

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