- October 12, 2024
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Bay banks earn $12M
Florida's commercial banks lost a combined $175 million in 2011, according to a report by Saltmarsh, Cleaveland & Gund.
However, banks in South Central Florida earned $5.4 million in profit, while Tampa Bay banks earned $12 million.
The strongest performers in the Tampa Bay market — from Lakeland to Venice, in Saltmarsh's report -- were CenterState Bank of Florida in Winter Haven, with $21.3 million in profits, and Clearwater's USAmeriBank, with $7.9 million in net income.
The region's biggest losers for the year were Florida Bank in Tampa, which lost $17.8 million, and Sarasota's Bank of Commerce, which lost $8.1 million.
Kforce hits $1 billion
Kforce Inc., a Tampa-headquartered professional staffing firm, announced that total revenue increased 12.1% in 2011 compared with the previous year, reaching $1.1 billion.
The company, which operates out of 63 offices globally, had its earnings per share increase 37.3% over the year as well.
In an earnings statement, CFO Joseph Liberatore acknowledged that Kforce repurchased 5.7 million shares of common stock in 2011 and would perform additional repurchases in 2012 if market conditions permit.
Masonite seeks transparency
Masonite International Corp., a Tampa-based door manufacturer, announced plans for a special shareholders meeting in which it will seek approval for three resolutions to increase financial disclosure, according to a company statement.
At the March 12 meeting, shareholders will vote on resolutions to contractually bind the firm to release financial statements, increase shareholder limits and approve other administrative changes if Masonite secures a listing on the NYSE or Nasdaq.
Masonite is currently a private company trading on a secondary market; it posted $1.1 billion in revenues through the third quarter of 2011.
Banker pleads guilty
Former Orion Bank President Jerry Williams, 51, pleaded guilty in federal court to conspiracy of bank fraud and making false statements to bank regulators.
Williams faces a maximum of 15 years in prison. No sentencing date has been set.
According to the plea agreement, Williams conspired with two other Orion Bank executives to mislead state and federal regulators into believing the bank was in a better capital position that it was by falsifying the bank's books over a period of seven months.
State regulators shut down Orion Bank in November 2009 and sold the assets and deposits to IberiaBank of Lafayette, La.
Through his attorney, William Sullivan Jr., Williams says he tried to save Orion Bank at a time when the federal government was bailing out Wall Street banks. “In the end, he personally gained nothing and lost everything,” Sullivan says.
Beasley net rises
Naples-based radio operator Beasley Broadcast Group reported net income rose 1.7% to $3.4 million in the fourth quarter compared with the same quarter one year ago thanks in part to lower interest expense.
However, Beasley's fourth-quarter revenues fell 6.8% to $25.2 million compared with the same quarter in 2010 because of a drop in national and political advertising.
In addition to declining interest expense, Beasley lowered station operating expenses by 5% in the fourth quarter. The 50-year-old company operates 42 radio stations in 11 markets in the U.S.
Fitzenhagen candidate
Fort Myers attorney Heather Fitzenhagen announced her candidacy for state representative for the newly drawn District 78.
Fitzenhagen, a Republican, is marketing director for the Condo & HOA Law Group in Fort Myers. Fitzenhagen also serves on the boards of the Pace Center for Girls, the Fort Myers Women's Community Council and the Lee County Association of Women Lawyers.
Company plans hires
Protocol Global Solutions, a subsidiary of Pennsylvania-based NCO Group Inc., will hire 400 workers from the Sarasota labor market to staff its Protocol Customer Management Contact Center.
A company release says most of the 400 hires will be full-time positions. In addition to customer care associates, PGS will hire team management staff, trainers and other program specialists. The hires stem from acquiring a new client, the PGS release says.
NCO Group operates more than 100 business process outsourcing facilities worldwide.
Official seeks post
State Sen. Mike Bennett, R-Bradenton, announced he will run for Supervisor of Elections in Manatee County. Bennett seeks to replace Bob Sweat, who will retire this year.
Bennett, the senate's President Pro Tempore, has reached his term limit. He is well known in the Senate for filing a bevy of bills each Legislative session, many with a pro-business perspective.
The announcement from Bennett brings the field of candidates running for the supervisor's office to seven.
Construction jobs shrink
The amount of construction and building industry jobs in the Manatee-Sarasota area fell slightly in 2011, according to the Associated General Contractors of America.
The organization reported that the North Port-Bradenton-Sarasota region held 14,500 construction jobs last year. That's down from 14,700 in 2010.
The jobs aren't likely to come back in a big way in 2012, based on the results of a separate AGC survey. In that report, for example, Florida-based contractors were the most pessimistic in the country regarding the outlook for public sector construction. More than two-thirds, 68%, reported that they either expect the market to remain flat or decrease.
