A HERALD-TRIBUNE INVESTIGATION
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STORIES
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VIEW BANK DATA:
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AmericanFirst Bank
Bank of Bonifay
Bank of Florida Southeast
Bank of Florida Southwest
Bank of Florida Tampa Bay
BankUnited
Bayside Savings Bank
Central Florida State Bank
Century Bank
Chipola Community Bank
Coastal Bank
Coastal Community Bank
Commerce Bank of Southwest Florida
Community National Bank at Bartow
Community National Bank of Sarasota County
Cortez Community Bank
First Bank of Jacksonville
First Commercial Bank of Florida
First Commercial Bank of Tampa Bay
First East Side Savings Bank
First Federal Bank of North Florida
First Guaranty Bank & Trust
First National Bank of Central Florida
First National Bank of Florida
First Peoples Bank
First Priority Bank
First State Bank
Flagship National Bank
Florida Community Bank
Freedom Bank
Gulf State Community Bank
GulfSouth Private Bank
Haven Trust Bank
Heritage Bank of Florida
Heritage Bank of North Florida
Hillcrest Bank
Horizon Bank
Independent National Bank
Integrity Bank
Key West Bank
LandMark Bank
Lydian Private Bank
Marco Community Bank
Metro Bank of Dade
Ocala National Bank
Old Harbor Bank
Old Southern Bank
Olde Cypress Community Bank
Orion Bank
Partners Bank
Peninsula Bank
Peoples First Community Bank
Premier American Bank
Premier Community Bank of the Emerald Coast
Progress Bank of Florida
Putnam State Bank
Republic Federal Bank
Riverside Bank of the Gulf Coast
Riverside National Bank of Florida
Security Bank
Southshore Community Bank
Sterling Bank
Sun American Bank
Sunshine State Community Bank
The Bank of Miami
The Royal Palm Bank of Florida
Turnberry Bank
Wakulla Bank
BREAKING
THE BANKS
The Royal Palm 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
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2011
2012
The Royal Palm Bank of Florida
SPAN
December 2001-July 2012
HEADQUARTERS
Naples
REGULATORS
OFR/FDIC
TOTAL ASSETS AT FAILURE
$87 million
COST TO FDIC
$13 million
DIRECTORS
Dan S. Dugan
Greg Murphy
Jan Kantor
Dennis Prock
Ted Awerkamp
Paul M. Smith
Tom F. Weyl
Scott R. Whitney
Casey Wolff
Brian C. Wood
The Royal Palm Bank of Florida failed in July 2012; the Herald-Tribune has not received regulatory reports from the Florida Office of Financial Regulation, which become available a year after a bank fails.
The FDIC hasn't published a post-mortem on Royal Palm's failure.
According to reports in its hometown newspaper — the Naples Daily News — the bank concentrated heavily on making risky loans to builders and speculators. When the market turned, these loans began going bad and drained the bank of all-important capital.
Mercantile Bancorp, a publicly traded holding company that owned Royal Palm and three other banks based in the Midwest, initially rescued Royal Palm from failure in 2009 with an infusion of $11 million in fresh capital. But Royal Palm ran through that money within two years.
Unable to contribute more, Mercantile had to watch as Royal Palm and another bank in its holding company — Heartland Bank of Leawood, Kan. — were closed by regulators.
Royal Palm planned an 11th-hour sale to another Southwest Florida lenders, but the deal didn't come to fruition before regulators moved in.
FLORIDA COMMUNITY BANKS
Click to explore bank profiles, loans, officers, capital and defaults.
AmericanFirst Bank
Bank of Bonifay
Bank of Florida Southeast
Bank of Florida Southwest
Bank of Florida Tampa Bay
BankUnited
Bayside Savings Bank
Central Florida State Bank
Century Bank
Chipola Community Bank
Coastal Bank
Coastal Community Bank
Commerce Bank of Southwest Florida
Community National Bank at Bartow
Community National Bank of Sarasota County
Cortez Community Bank
First Bank of Jacksonville
First Commercial Bank of Florida
First Commercial Bank of Tampa Bay
First East Side Savings Bank
First Federal Bank of North Florida
First Guaranty Bank & Trust
First National Bank of Central Florida
First National Bank of Florida
First Peoples Bank
First Priority Bank
First State Bank
Flagship National Bank
Florida Community Bank
Freedom Bank
Gulf State Community Bank
GulfSouth Private Bank
Haven Trust Bank
Heritage Bank of Florida
Heritage Bank of North Florida
Hillcrest Bank
Horizon Bank
Independent National Bank
Integrity Bank
Key West Bank
LandMark Bank
Lydian Private Bank
Marco Community Bank
Metro Bank of Dade
Ocala National Bank
Old Harbor Bank
Old Southern Bank
Olde Cypress Community Bank
Orion Bank
Partners Bank
Peninsula Bank
Peoples First Community Bank
Premier American Bank
Premier Community Bank of the Emerald Coast
Progress Bank of Florida
Putnam State Bank
Republic Federal Bank
Riverside Bank of the Gulf Coast
Riverside National Bank of Florida
Security Bank
Southshore Community Bank
Sterling Bank
Sun American Bank
Sunshine State Community Bank
The Bank of Miami
The Royal Palm Bank of Florida
Turnberry Bank
Wakulla Bank