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SlickJulie
Flash in the pan


Joined: 01 Feb 2008
Posts: 59

Downturn in South FLA real estate market hurts local banks
PostPosted: Tue Apr 29, 2008 12:07 am Reply with quoteBack to top

At year-end 2007, Hallandale Beach-based Home Federal Bank of Hollywood reported 4.91 percent of its loans were nonperforming, the highest level in the region. At year-end 2006, only .48 percent of its loans were past due. Nonperforming loans are those that are at least 90 days past due.

Security Bank NA of North Lauderdale went from .54 percent to 4.31 percent. Integrity Bank of Jupiter had no bad loans on its books at the end of 2006, only to see the percentage climb to 4.16 a year later.

Enterprise National Bank of Palm Beach in North Palm Beach and Fort Lauderdale-based BankAtlantic also are among the five local banks with the highest percentage of past-due loans.

Banks typically start worrying when problem loans eclipse 1 percent of total loans, Thomas said. In today's troubled environment, a range of 2.5 percent to 5 percent is cause for concern, he said.


http://www.sun-sentinel.com/bu.....0698.story

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spencer24
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Joined: 26 Mar 2008
Posts: 12

Re: Downturn in South FLA real estate market hurts local banks
PostPosted: Mon May 26, 2008 8:12 pm Reply with quoteBack to top

5% non-performing loans spells big trouble for a bank part of fractional-reserve banking system Smile

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