Experts say Florida banks not out of the woods yet
July 23, 2009
By MoneyAisle
According to the Herald Tribune, with its banks ranked in the bottom two in the nation, Florida will continue having problems with its financial institutions for some time to come.
Ken Thomas, a banking industry expert “estimates that among the 305 banks in the FDIC’s secret problem list, 10 percent are in Florida and 15 percent in Georgia.”
Thomas said, “This recession and crisis is far from over, and I do not think we will be out of this mess this year but hopefully next year, most likely in the early to mid part of it. We have a long way to go to get the housing market back on its feet, and it will lead us out of this mess, just as it led us into it.”