The news: Millions of Floridians are suffering major losses after hurricanes Helene and Milton tore through the state. As a result, multiple regional banks are allocating loan loss provisions to cover potential defaults by those most heavily affected.

How Florida banks are responding: First Bancorp and United Community Banks have allocated $13 million and $9.9 million, respectively, in loan loss provisions, per Reuters.

Valley National Bancorp, Seacoast Banking, and BankUnited are still assessing the financial impact of these hurricanes.

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Florida’s regional banks are preparing for hurricane-related losses

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