Florida

Two failures on opposite coasts Friday evening brought the year's toll to 127. Florida regulators closed the $148 million-asset Haven Trust Bank in Ponte Vedra Beach. Later, the $289 million-asset North County Bank in Arlington, Wash., was shuttered.

Two days before approving a $175 million investment for TIB Financial Corp. in Naples, Fla., the Federal Reserve entered into a written agreement with the struggling company.

Jacksonville Bancorp Inc. in Florida is raising more capital for its deal to acquire hometown rival Atlantic BancGroup Inc.

North American Financial Holdings Inc. of Charlotte has received approval to invest $175 million in the struggling TIB Financial Corp. in Naples, Fla.

In the year or so that BankUnited has hired lenders away from Florida rivals, its recruits have laid the foundation for a major branch expansion across the state.

For an institution with plenty of capital, BBU Bank in Coral Gables, Fla., has made what some consider an odd move — expanding from the troubled Florida market into the turbulent Puerto Rico market.

It was another light Friday for the Federal Deposit Insurance Corp. Following two weeks with no bank failures, the FDIC was called in to resolve just one collapse Friday evening, that of the $188 million-asset Horizon Bank in Bradenton, Fla. The failure, the 119th this year and the 23rd in Florida, was estimated to cost the FDIC nearly $59 million.

CenterState Banks Inc. is merging three of its national banking subsidiaries in Florida by the end of the year, according to a filing with the Securities and Exchange Commission.

Banco Davivienda of Bogota, was given permission Tuesday to convert a subsidiary already in the U.S., Bancafe International, into an international branch in Miami.

The Fort Lauderdale, Fla., company last week filed a registration statement with the Securities and Exchange Commission to raise up to $125 million of common equity this year. BankAtlantic did not disclose when it intends to launch an offering.

Operating a community bank in foreclosure-ravaged South Florida is challenging. Starting one just before the financial crisis hit is even more so.

Stonegate Bank in Fort Lauderdale, Fla., said Tuesday it has agreed to buy Southwest Capital Bank in Fort Myers, Fla., for $9.4 million in an all-stock transaction.

Old Florida National Bank of Orlando and Mercantile Capital Corp. of Altamonte Springs, Fla., announced a deal in which Mercantile would become a subsidiary of Old Florida.

BankAtlantic Bancorp Inc. in Fort Lauderdale, Fla., has given up its attempt to cash out its bondholders at a discount.

ShoreBank, the country's first community development bank, failed Friday night after months of struggling to find a way to stay afloat. However, it will continue in a different form.

BankUnited is planning an initial public offering 15 months after the Florida lender collapsed and was acquired by investors including Carlyle Group and WL Ross & Co., according to people with knowledge of the matter.

Sabadell United Bank has completed its merger with TransAtlantic Bank, making it the fourth-largest Florida bank based in Miami-Dade County.

BankAtlantic Bancorp Inc. in Fort Lauderdale, Fla., reported Wednesday that its second-quarter loss widened by 33% from a year earlier, to $51.3 million.

Florida is still a prime destination for Centennial Bank in Conway, Ark., even as well-heeled acquirers move in and drive up bank prices.

Five bank closures in four states Friday cost the federal government an additional $334 million in losses.