Real Estate market hurts local banks

The real estate market is affecting local banks in addition to the mortgage giants.

In the West Coast, more than just the big banks like Bank of America and Citibank are reporting profit loss due to the recent real estate market problems.

Sarasota-based First State Financial Corp reported its third-quarter profits dropped 41 percent and Bradenton-based Horizon Bancorporation reported profits were down 22 percent.

Read more about regional bank woes at the Herald Tribune.