I’ve been accused of being verbose more than once. So here’s the commercial REO and NPL update… plain and simple with charts, numbers, and lists.
If you’re looking for more analysis and fewer numbers you can check out this earlier distressed commercial real estate report from Pat Blount.
Q1 2014 Commercial REO and NPL Update
Commercial REO Slowly Whittled Down
In the most recent filing (Q1 2014) 3,155 Banks reported a total commercial REO volume of $6.695B. That’s a difference of 69 banks (reporting any bank owned commercial property) and a $289.3MM reduction in total dollar volume of commercial real estate owned from the previous quarter .
Commercial REO Currently Represents 30.82% of the Total Amount of REO on Banks’ Books
The total percentage of commercial REO relative to the 4 other types of reported real estate owned by banks remained virtually unchanged.
More Banks Reported Newly Late Commercial Real Estate Loans, $117MM Increase.
Forty-six more banks reported newly late CRE loans than reported the same in the previous quarter for a total increase of $117MM.
Fewer Banks Report Non-Performing CRE Loans, Total Book Down $1.2b
3,022 Banks are reporting owner-occupied commercial real estate loans in nonaccrual status with a total dollar volume of $8.29B. 2,494 Banks are reporting $8.49B in non-owner occupied nonaccrual CRE notes.
Late and Non-Performing CRE Notes By the Numbers
Owner Occupied Commercial Real Estate (Loans)
- 30-89 Days Late: $2,707,557,000 at 2,685 banks
- 90+ Days Late: $1,351,943,000 at 527 banks
- Non-Accrual: $8,293,383,000 at 3,022 banks
Non Owner Occupied Commercial Real Estate (Loans)
- 30-89 Days Late: $2,876,942,000 at 1,901
- 90+ Days Late: $1,735,114,000 at 438
- Non-Accrual: $8,493,229,000 at 2,494
Total 30-89 Days Late Commercial Real Estate Loans: $5,584,499,000
Total Non-Performing Commercial Real Estate Loans: $19,873,669,000
*Non-performing loans defined as all loans 90+ days late whether or not they’re still accruing interest.
Top 5 Banks with Commercial REO
- Wells Fargo Bank, National Association Sioux Falls SD $561,000,000
- TD Bank, N.A. Wilmington DE $142,676,000
- Branch Banking and Trust Company Winston-Salem NC $84,379,000
- BANCO POPULAR DE PUERTO RICO SAN JUAN PR $75,000,000
- FirstBank of Puerto Rico San Juan PR $73,199,000
Top 5 Banks with Nonaccrual Non-Owner Occupied Commercial Real Loans
- Wells Fargo Bank, National Association Sioux Falls SD $856,000,000
- PNC Bank, National Association . Wilmington DE $312,383,000
- The National Republic Bank of Chicago Chicago IL $256,945,000
- TD Bank, N.A. Wilmington DE $217,642,000
- Bank of America, NA Charlotte NC $206,000,000
Top 5 Banks with Nonaccrual Owner-Occupied Commercial Real Estate Loans
- Wells Fargo Bank, National Association Sioux Falls SD $1,005,000,000
- Bank of America, NA Charlotte NC $373,000,000
- Regions Bank Birmingham AL $302,624,000
- Branch Banking and Trust Company Winston-Salem NC $222,386,000
- JPMorgan Chase Bank, National Association Columbus OH $190,000,000
See more of the stats and charts at: https://www.distressedpro.com/app/banks/commercial/