Florida

TIB Financial Corp. of Naples, Fla., said its net loss nearly tripled in the second quarter as it awaits a takeover by North American Financial Holdings Inc.

EverBank Financial Corp. in Jacksonville, Fla., has struck a deal to rename the local football stadium EverBank Field.

WASHINGTON — Federal and state regulators shut seven banks late Friday, pushing the failure total this year to 103. Though the pace of failures briefly slowed earlier this month, it appears to be picking up momentum again, as Friday's failures followed six last week.

North American Financial Holdings, a group formed by former Bank of America Vice Chairman Eugene Taylor, sealed deals to buy 3 failed banks in the Southeast late Friday.

Florida Bank Group Inc. said Thursday that it has agreed to acquire Anderen Financial Inc. The $843 million-asset parent company of Florida Bank will acquire Anderen, of Palm Harbor, Fla., with $150 million of assets, and its subsidiary, Anderen Bank, in an all-stock transaction.

Florida First City Banks Inc. said this week it had suspended an effort to raise up to $14 million after potential investors began backing away. Their reason: Worries about the potential consequences for banks as oil washes up on Panhandle beaches.

Sunrise Bank in Cocoa Beach, Fla., announced an agreement Thursday in which a group of three investors will inject $8.6 million into the bank.

Fueled by more than $400 million in capital, Bond Street pulled Miami's Premier American out of the rubble in January and leveraged it to make two other federally assisted deals, most recently grabbing the failed Peninsula Bank in Englewood last Friday.

Former Bank of America Corp. Vice Chairman R. Eugene Taylor has spent the past six months searching for a bank to buy — only to return to whence he came.

The $1.7 billion-asset company announced late Tuesday that North American Financial Holdings Inc., led by former Bank of America Corp. executive Eugene Taylor, would invest $175 million in the company so that it can shore up its undercapitalized bank unit.

The Federal Reserve Bank of Atlanta announced Tuesday that OptimumBank Holdings Inc. of Fort Lauderdale, Fla., has signed an agreement to maintain financial soundness.

There's a group of community banks flush with capital, unburdened by delinquent loans and busily expanding assets — at the expense of troubled kin. The de novo class of '07 and '08 fortuitously opened its doors just before regulators said Do Not Enter, but late enough in the game to realize strict loan standards were necessary to navigate the real estate recession. Now they're coming for troubled banks' lunch money.

BankAtlantic Bancorp Inc. in Fort Lauderdale, Fla., has given bondholders another month to cash out trust-preferred securities.

First Southern Bancorp Inc. has paid the Treasury Department $11.5 million, repurchasing all of its outstanding preferred stock in the Troubled Asset Relief Program.

Old Harbor Bank said Thursday that Anthony N. Leo would take over as chief executive to handle its restructuring and lead its new growth strategies. The $243 million-asset thrift also announced a new capital raise in conjunction with the executive shuffle as the bank tries to redeem itself from being undercapitalized.

Simply put, experts respond, what goes down must come up. Florida was one of the first states to feel the pain of the crisis, and most analysts and private-equity groups see a bottoming out in the real estate and banking markets happening there before it occurs in similarly troubled states such as Arizona, California and Nevada, or in most of the other states in the Southeast.

MidFlorida Credit Union, one of the state's healthiest big credit unions, has agreed to acquire the troubled Bay Gulf Federal Credit Union in the latest in a series of large credit union mergers shaking up the market in the Sunshine State.

Longtime Midwest banker Marty Adams is heading south on a rescue mission. The struggling TIB Financial Corp. in Naples, Fla., announced late Friday that Adams, former chief executive of Sky Financial Group, would join TIB to help it secure the $150 million it needs for a recapitalization.

BankAtlantic Bancorp Inc. of Fort Lauderdale, Fla., Thursday announced pricing for its $25 million rights offering. The $4.7 billion-asset company said it would sell shares to existing shareholders at $1.50 a share, a 21% discount to the stock's price on June 1, the day before the company announced the rights offering.

Three and a half years after selling Harbor Florida Bancshares Inc. at the top of the market, the company's former executives have decided it's time to buy.