JUPITER, Fla. ( TheStreet) -- The third quarter was another rough one for Florida's banking industry, with another 10 institutions failing and 53% of banks and savings and loan associations in the Sunshine State reporting quarterly losses.
So far this year, Florida has had 28 bank failures, by far the most for any state.
According to data provided by SNL Financial, 17 of Florida's 252 banks and thrifts were undercapitalized per ordinary regulatory guidelines as of Sept. 30, making Florida second only to Georgia, which had 41 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:
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