South Florida Business Journal - by started recording branch-by-branch deposits in 1994, the total amount of deposits in South Florida has increased each year – but not in 2008. Total deposits in all South Florida branches fell to nearly $146.1 billion on June 30, down almost $3.6 billion, or 2.4 percent, from a year ago. That came despite seven more institutions and 35 branches opening in the region over that time. From 1994 through 2007, South Florida deposits increased an average of $6 billion a year. With the region’s population growing and many deposits gaining interest through savings or certificate of deposit accounts, it would be expected that they would grow every year. It’s hard to use the market deposit data as a barometer of a regional economy, said Ross Waldrop, a senior banking analyst at the FDIC. That’s...
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