JUPITER, Fla. (TheStreet) -- An analysis of Florida's banking scene underlines the state's move to the forefront for bank failures during 2010, as 55% of banks and savings and loan associations in the Sunshine State reported net losses for the second quarter.
According to data provided by SNL Financial, 21 of Florida's 261 banks and thrifts were undercapitalized per ordinary regulatory guidelines, second only to Georgia, which had 39 institutions included on TheStreet's second-quarter Bank Watchlist.
While the Watchlist is a very comprehensive way of identifying the weakest banks, another approach is to look at overall credit quality:
Florida Banks with Weakest Asset QualityThe following list includes all banks in the state with nonperforming assets comprising more than 15% of total assets as of June 30, with data provided by SNL Financial:
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