Bauer finds fewer stars among banks
South Florida Business Journal - by Brian Bandell
Coral Gables-based Bauer Financial found 10 fewer strong banking institutions in South Florida and uncovered four more problematic banks, according to its review of fourth quarter financial data.
The company uses federal regulatory data to rate banks based on capital ratio, profit/loss trend, delinquent loans and other factors.
Its latest star rankings are based on financial reports from the quarter ended Dec. 31.
Fourteen South Florida-chartered banks received five stars (superior) or four stars (excellent) in the fourth quarter. That’s down from 24 local banks with those ratings in the third quarter.
The five banks are:
Banks that lost stars are:
- First Southern Bank, of Boca Raton, which was down from five stars in the third quarter to three-and-a-half stars (good).
- West Palm Beach-based Grand Bank & Trust, which joined seven other local banks with four-star ratings from Bauer.
The other four-star banks are:
Doral-based U.S. Century Bank received three-and-a-half stars, down from four stars in the third quarter.
Bauer Financial rated 13 South Florida banks two stars (problematic) or worse in the fourth quarter, up from nine in the third quarter
The following were downgraded:
Five banks retained zero stars, Bauer’s lowest rating, including Florida’s largest bank, Coral Gables-based BankUnited.
The others were:
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