Stressed businesses stressing local banks

The latest Federal Deposit Insurance Corp. reports show that all eight of the national and regional banks doing business in the Pensacola area as well as five of the eight locally based banks are seeing the fallout from a stressed commercial market.

• In the past year, the five local banks have taken ownership of $32.1 million dollars of real estate used to collateralize loans that have gone into default.

Beach Community Bank, Coastal Bank and Trust of Florida, the First National Bank of Florida, Gulf Coast Community Bank and….

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