All of the highest-rated Florida institutions had total risk-based capital ratios greatly exceeding the 10% required for most institutions to be considered
well-capitalized under regulatory guidelines.
The biggest bank among the highest-rated in the state was
City National Bank of Florida of Miami, which had $4.2 billion in total assets and was rated B-plus, a downgrade from A-minus the previous quarter.
Largest Florida Institutions
The following includes capital, earnings and asset-quality indicators.
Source: Regulator filings via SNL Financial.
The largest bank chartered in Florida, based on June 30 total assets, was
Northern Trust NA
of Miami, a subsidiary of
(NTRS - Get Report)
of Chicago. Unlike the parent company, loans comprise most of Northern Trust NA's balance sheet. The bank, which has remained profitable through the crisis, was assigned a financial-strength rating of B ("good").
The second-biggest Florida institution was the new
, which was rated C ("fair") despite the new thrift's short track record. The FDIC agreed to share in losses on the loans acquired from the old failed BankUnited, and this guarantee was reflected in the institution's total risk-based capital ratio, which was a rather high 40.30% as of June 30.
Riverside National Bank of Florida, of Fort Pierce, had the lowest total risk-based capital ratio among the 10 largest banks in the state. It was included in
undercapitalized banks and thrifts
as of June 30.
After posting a net loss of $52.8 million for the second quarter, Riverside was left with a tier 1 leverage ratio of 3.81% and a total risk-based capital ratio of 6.04%, falling short of the 4% and 8% required for most banks to be considered adequately capitalized.