A HERALD-TRIBUNE INVESTIGATION - STORIES | VIEW BANK DATA:
BREAKING
THE BANKS
Heritage Bank of Florida

Defaults: This data is from judgements and foreclosure filings and was collected through county clerk’s offices. It includes every judgement for more than $1 million or the five largest at each bank.
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Heritage Bank of Florida
SPAN
August 1999-November 2012

HEADQUARTERS
Lutz

REGULATORS
OFR/FDIC

TOTAL ASSETS AT FAILURE
$225 million

COST TO FDIC
$65 million

DIRECTORS
Richard E. Adams
H. Clyde Hobby
Byron E. Clark
Kimberly D. Adams
Aston M. Simmons
Heritage Bank failed late last year, and state exams will not become public record until November.

Because of the lender's size, the FDIC is unlikely to publish an extended report on the reasons for its collapse.

But court records show that Heritage financed a deal in which the price of land in Hernando County nearly doubled — on the same day.

In April 2006, Hampton Ridge Developers bought a 20-acre parcel for $690,000 and sold it to a company controlled by builder James W. DeMaria later that day for $1.16 million.

The bank lent DeMaria's company $1.2 million to make the purchase.

It is unclear if Heritage executives knew of the same-day price increase.

DeMaria's companies ultimately defaulted on more that $3 million in loans from Heritage.

Two Heritage directors did not return calls in June.

DeMaria's numbers have been disconnected.


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