Aug 23 Banks with exposure to Florida will have trouble wooing investors as the Sunshine State faces a cloudy economic future with a battered real estate market and an oil spill scarred tourism industry. [ID:nSGE6790JT]
Many are under pressure to raise capital, but are saddled with a big proportion of bad loans in their portfolio.
Following are some facts about some U.S. regional banks with meaningful exposure in Florida Company Total Assets Total Deposits Non-performing ($ bln) ($ bln) Assets
(% of loans) Synovus Financial Corp (SNV.N) 32.38 26.26 5.7 IberiaBank Corp (IBKC.O) 10.38 8.07 15.3 BankAtlantic Bancorp (BBX.N) 4.66 3.99 9.1 Home Bancshares (HOMB.O) 3.04 2.19 1.7 Centerstate Banks (CSFL.O) 1.82 1.43 6.8 Encore Bancshares EBTX.O 1.63 1.20 4.2 (Sources: Company statements, Starmine, Thomson Reuters data) (Compiled by Anurag Kotoky and Jochelle Mendonca in Bangalore)