Profitability lagged at Florida's community banks and thrifts in the second quarter, but loan and deposit growth outpaced the Southeast and U.S. as a whole.

The median return on average equity for Florida's community banks and thrifts with less than $10 billion in assets was 9.27% in the second quarter, down 46 basis points year over year and below the median 9.30% ROAE for Southeast community banks and 9.59% for all U.S. community banks. Likewise, Florida's median net interest margin of 3.67% was lower than the Southeast's 3.96% and 3.84% for the U.S.

However, Florida's community banks are growing at a faster pace than others. During the second quarter, deposits at Florida community banks grew by a median 6.3% year over year, and loans grew by a median 8.7% compared to the nationwide medians of 3.4% and 5.0%, respectively.

Coral Gables-based Amerant Bank NA, Florida's largest community bank by assets, underperformed its in-state peers as it continued a multiyear restructuring following its spinout from Venezuela's Mercantil Servicios Financieros CA. Loans and deposits both fell year over year, but Amerant did notch a small quarter-over-quarter gain in loans.

Stuart-based Seacoast National Bank, Florida's second-largest community bank, posted better results than the state community bank median in five of the six banking metrics.

Following a white-hot May when five Florida bank M&A deals were announced, merger activity has slowed a little over the summer. Nonetheless, 13 whole-bank or minority interest deals have been struck in Florida so far this year, compared to 12 in all of 2018.

Florida's banks and thrifts continue to trim branches as more banking activity goes online. During the second quarter, Florida banks shuttered 47 branches and opened 17. Over the 12 months ending June 30, 208 branches closed in the state, while only 60 opened.

Click here for an Excel spreadsheet containing results for all Florida community banks in the second quarter.

Click here for a refreshable state banking template.