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:
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV