Naples banking consolidates

You can now count the number of locally headquartered community banks in Naples on one hand.

Collier County, once home to some of the largest community banks headquartered on the Gulf Coast, is now home to half the number of community banks during the boom.

The latest in the wave of closures and consolidations: Ovation Holdings, the parent company of Encore National Bank, says it plans to buy the three branches, most of the deposits and a portion of the loans of Royal Palm Bank in Naples.

During the boom Collier was home to banks or holding companies with billions of dollars of assets on their balance sheets that have since disappeared, including Orion Bank, Florida Community Bank and Bank of Florida.