California’s numbers are slightly up this quarter—one additional bank is reporting Newly Late Multifamily real estate loans and an increase in the total dollar volume, and one additional bank is reporting Non-Performing Multifamily real estate loans, again, with an increase in the total dollar value.
Now, let’s take a closer look at the specific breakdown.
Q1 2014 Multifamily Newly Late and NPL Update
Slight Increase of California Multifamily Newly Late and Non-Performing Loans
In the most recent filing (Q1 2014) 73 California banks reported a total late and non-accrual CRE loan volume of $216MM. That’s an additional two banks (reporting any late or non-accrual multifamily property) and a $5.1MM increase in total dollar volume of multifamily CRE loans from the previous quarter.
Additional California Bank Reported Newly Late Multifamily Real Estate Loans, $3MM Increase
One additional California bank reported newly late MRE loans than was reported in the previous quarter for a total increase of $3MM.
Additional California Bank Reported Non-Performing MRE Loans, Total Increase $2MM
42 California banks—one more than last quarter—are reporting owner-occupied multifamily commercial real estate loans in non-accrual status with a total dollar volume of $92.5MM—a $2MM increase from last quarter. Six banks—same as last quarter—are reporting $64MM in non-owner occupied non-accrual MRE notes—a $1.6MM increase from last quarter.
Q1 2014 California Late and Non-Accrual MRE Notes by the Numbers
California Multifamily Real Estate (Loans)
- 30-89 Days Late: $58,721,000 at 25 banks
- 90+ Days Late: $64,539,000 at 6 banks
- Non-Accrual: $92,477,000 at 42 banks
Top 5 California Banks with Multifamily Loans 30-89 Days Late
- Cathay Bank, El Monte $15,427,000
- East West Bank, Pasadena $10,618,000
- City National Bank, Los Angeles $9,369,000
- Union Bank, National Association, San Francisco $5,776,000
- OneWest Bank, National Association, Pasadena $4,150,000
Top 5 California Banks with Multifamily Loans 90+ Days Late
- City National Bank, Los Angeles $29,803,000
- Union Bank, National Association, San Francisco $14,783,000
- Pacific Western Bank, Los Angeles $11,710,000
- California Bank & Trust, San Diego $4,312,000
- OneWest Bank, National Association, Pasadena $3,544,000
Top 5 California Banks with Non-Accrual Multifamily Estate Loans
- East West Bank, Pasadena $30,638,000
- Luther Burbank Savings, Santa Rosa $8,537,000
- BOFI Federal Bank, San Diego $6,180,000
- Union Bank, National Association, San Francisco $6,112,000
- Simplicity Bank, Covina $3,773,000
See more of the stats and charts at: http://www.distressedpro.com/app/banks/CA/multifamily/