"Banks foothold now are operating under much stricter guidelines than banks that opened two years ago, which frankly is passable with us," he said. Stated receipts loan.

Published Monday, May 26, 2008 at 4:30 a.m. Last updated Monday, May 26, 2008 at 3:51 a.m. Remember when Florida was a banking paradise? Out-of-state bankers could not tarry to get into Florida to provide loans and fiscal services to the enlargement citizenry and the businesses that provide them.

The fall of the houses furnish has entranced some of the luster off the Sunshine State. Loan consumer is down, heartfelt domain values have plunged, and some of the banks that opened at the mountain top of the eulogistic times are now paying the price. Still, these banks stay put committed to Florida. While some of them acquired Florida loans that are now battering profits, they imagine the glory has long-term apply that will at pay off.

The newest community banks in Southwest Florida aver they have a opportune opportunity. They allow their timing was perfect -- they have no misbehaving loans on their books and less event from older banks that are nursing their wounds a substitute of making new loans. "Competitors are on the sideline due to the subprime danger and associate credit crunch," said Jim Kuhlman, president of the 6-month-old Florida Shores Bank-Southwest in Venice. "It's a charge out of if we were selling shoes and there were a lot of other shoe stores around, and for whatever intellect they stopped selling, and we were the only ones selling shoes," he said.

Florida Shores has booked more than $30 million in loans, many to customers of the ancient Premier Community Bank of Venice. Kuhlman was president of that bank when it was sold to Colonial in 2004. He and erstwhile Premier live members launched Florida Shores. Shaun Merriman, CEO of the just-opened Gateway Bank of Southwest Florida in Sarasota, said banks today manipulate in a several lending environment. "Banks pit now are operating under much stricter guidelines than banks that opened two years ago, which frankly is give the go-ahead with us," he said. "We're more sapient in our underwriting.

" Banking wonderful Ken Thomas says that regard for its lodging and financial problems, Florida remains bewitching for banks. "We are the fourth biggest affirm and the most double-quick growing big state," said Thomas. "If I could only preference three states to be in for banking, they would be Florida, California and Texas. "Yes, we are growing through a down circle now during this recession, but it will come back approve of the tides.

It will grab longer to come back here versus other areas since the foam was bigger and it takes yearn to deflate. "I at the end of the day don't distinguish a bottom until dialect mayhap next year, and it may filch until 2010 or 2011 before we witness customary box honorarium appreciation," he said. 'Too conservative' looks capital One bank still timely to be in the enclosure is Cadence Bank of Starkville, Miss., which bought SunCoast National Bank of Sarasota in 2006.

SunCoast avoided condo launch and dicey lending that has impacted other banks, said Florida CEO Bruce Page. "We did none of that, and we were doubtlessly criticized at the experience for being too conservative," Page said. "But we don't have to deal with those issues presently.

"We're very glad with where we be in session today. We've got a OK post of business, our creditation issues are very addressable, and we minimized the surprises," he said. While lending mass is not what it was two or three years ago, Page said there are still stack of wholesome opportunities for loans, such as for owner-occupied buildings in the medical and other finished sectors. "Things are still very competitive for adept brand-new business.

" M&I Bank of Milwaukee also does not deplore operating into the Sarasota-Manatee stretch in 2006 with the obtaining of the late Gold Bank, even though some of the Florida loans it inherited are to each the worst on its books. In the senior pity M&I charged off $46 million in villainous loans made on Florida's west shore by Gold, more than in any other vend in its multistate footprint. M&I's biggest nonperforming allowance is for $15 million to a mid-size townsman developer. Its largest tangible estate-owned realty is a $19 million multifamily describe in Florida.

"Nationwide there are some signs of accent in the casing markets, but certainly more clear in the Florida and Arizona markets," said Greg Smith, the bank's greatest pecuniary officer. While accommodation enquire has slowed, M&I's Sarasota-based bank has built up other segments of its business, said regional president Jeff Reynolds. "We go on to continue non-public bankers in Sarasota and Manatee counties," Reynolds said.

"In two years we have expanded across all issue lines, not only in trade banking but in hidden preferred banking and residential lending." While M&I will not prophesy a turnaround for the briefness -- "It's too inopportune to demand bottom," Smith said -- the bank likes its prospects in Florida. "The fundamentals are there for a bank feel favourably impressed by us to be famed on the west strand of Florida," he said. "We're satisfied we're there.

" At Whitney National Bank, which bought 1st National Bank of Manatee in 2006, more than half of its $139 million in nonperforming loans are in Florida. In its internal risk-rating process, Florida loans accounted for 40 percent of the $392 million in criticized loans.

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