South Florida’s $1 billion-plus banks report increase in loan growth in Q4

February 12th, 2016

South Florida-based banks in the $1 billion-plus club collectively reported greater loan growth in the fourth quarter than in the previous quarter.

The 11 banks with more than $1 billion in total assets reported a $2.35 billion increase in total loans as of Dec. 31, up from an increase of $2.24 billion as of the third quarter.

Collective profit was down in the fourth quarter with the 11 institutions reporting $148 million in total profit, from $189 million in the third quarter.

The $1 billion-plus group accounted for $70.1 billion in total assets as of Dec. 31.

The 11 largest South Florida-based banks had a lower combined noncurrent loan ratio in the fourth quarter of 0.78 percent than banks across the region, or healthier portfolios than the regional average. The nonperforming loan ratio in South Florida was 0.93 percent as of Sept. 30.

Click here for attached table for the Q4 performance of South Florida’s 11 biggest banks

The standing of the banks remained the same, with Miami Lakes-based BankUnited (NYSE: BKU) atop the heap. BankUnited reported the largest quarterly loan growth and profit, as well as the highest annual profit.
BankUnited’s $1.2 billion in new loans accounted for more than half of the loan growth reported by South Florida-based banks.

Miami-based TotalBank was the only institution among the $1 billion-plus club to report a drop in assets in the fourth quarter to $2.76 billion in total assets from $2.79 billion in the previous quarter. The bank also reported a decrease of full-time staff by 85 between Sept. 30 and Dec. 31.

Neighboring financial institution City National Bank of Florida had an exciting fourth quarter complete with the close of the bank’s sale to a Chilean-based entity.
“ 2015 was another record year for us, as 2014 was a record year for us,” said Daniel Kushner, City National CFO.

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