This chart (hit it to enlarge) from a Miami Herald article (titled S. Fla. Banks face new real-estate crisis) yesterday, dovetails off Gimleteye's post above.How to read the chart? Well, we know that the Nations banks have to be superior to Florida's so the closer the banks get to "Other US Bank" numbers, I would assume, the better. For example, let's take US Century Bank. Their percentage of Commercial Real Estate loans is almost 70%. The number is 24.04% for "Other US Banks". Reserves for Non-performing assets, US Century has almost 15%. Nationwide banks have 83.39%. To be fair, the rest of the nation doesn't have an economy based on the behavior of a cancer cell, thus, Florida banks are more heavily invested in the real estate market. The low reserves are particularly shocking since there will be more need for them, according to the Miami Herald.
4 comments:
Of course, these bankers-- like US Century-- are the ones who pull the strings and run the program at City and County Halls. And our tax dollars are bailing them all out. When they're not trying to protect their assets from being attached by creditors, they must grinning like the cat that ate the canary.
...and Ocean Bank is still around – NPA/Assets ratio at a chart topping 18%; CRE delinquency at a chart topping 27%; CRE Loan/Total Loans at a near chart topping 65% - the American Financial Oligarchy and the FL Growth Machine teaming up; hard at work to lobby and force feed so-called “regulation” with a “velvet glove” to promote growth at virtually any cost. http://www.pbs.org/wgbh/pages/frontline/video/flv/generic.html?s=moyj06p839
For a minute I got scared when I sent to that link...it said "Skin"...but then we got to Moyers. Thanks reader.
How awful to think what these interests did to Florida, with no jail time.
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