The 5 Florida based banks with the most commercial REO (bank owned commercial real estate) are showing less than $100MM. The most recent bank report data suggests that Florida’s banks have been slow to pull the trigger on nonperforming commercial real estate loans.
While the 5 Florida banks with the most commercial REO are showing $75,063,000 the top 5 banks with non-accrual commercial real estate in Florida are showing $282,220,000 or about four times the amount. It should be noted that noe of the top 5 commercial REO banks re-appear in the top 5 non-accrual balances.
The fact that none of the first group appear in the second may speak to a difference in the way that certain lenders are handling their troubled loans.