Commercial lending

The Cleveland-based regional bank is shedding credit risk in a partnership with the private equity giant Blackstone. It's the latest tie-up between asset managers and regional banks that are looking to free up balance-sheet capacity.

It will take time for the banking industry to work through issues with CRE loans, Brian Moynihan says in discussing the aftermath of last year's banking crisis and New York Community Bancorp's recent warning about its exposure to troubled debt.

Some 54% of small businesses said in a recent survey that elevated rates had led to higher debt payments. And in a sign that loan demand remains soft, 37% reported delaying expansion plans or capital spending.

The troubled Long Island-based lender laid out steps that it's taking to improve its loan-review process. The remediation efforts follow a massive loan provision last quarter, which led to a management shake-up and a $1 billion rescue led by former Treasury Secretary Steven Mnuchin.

The new team at Dime Community Bancshares intends to attract funding from an array of niche business segments, including medical billing, so-called death care services and hedge funds.

The agency had intended to block access to tax data by most lenders on June 30 as part of a policy change that sought to protect taxpayer privacy. But drew broad opposition from the financial services industry.

The Long Island-based lender has released a number of new details about its reconfiguration following a $1 billion capital injection led by two former Trump administration officials.

Midsize lenders have largely defied the most dire predictions following Silicon Valley Bank's demise. But the nation's largest banks still have structural advantages, and the regionals remain hampered by their real-estate heavy portfolios and the continuing impact of high interest rates.

Data as of Dec. 31, 2023. Dollars in thousands.

The Columbus, Ohio, regional bank will focus first on Dallas before venturing statewide. Its move into the Lone Star State comes three months after announcing a similar initiative in the Carolinas.

Former Trump administration officials Steven Mnuchin and Joseph Otting are headlining an investment group that's seeking to rescue the troubled Long Island lender. Otting is expected to serve as CEO, and Mnuchin will have a board seat.

Long Island-based New York Community Bancorp has a large concentration in loans on New York City apartment buildings with rent restrictions. Property values in that sector have tanked amid higher interest rates, inflation and 2019 revisions to state law.

New York Community Bancorp faced new questions Friday after a flurry of disclosures led to a steep sell-off in its stock. The embattled Long Island-based lender beefed up its risk leadership, but Fitch cut its rating to "junk" status.

The turmoil at New York Community Bancorp resumed Thursday with the departure of CEO Thomas Cangemi. The embattled regional bank, which also recorded a $2.4 billion goodwill impairment charge and disclosed other new problems, saw its share price plunge.

Canadian Imperial Bank of Commerce benefited from growth in its domestic retail business even as it set aside more money than analysts expected for potentially sour loans.  

After Carter Bankshares sought to auction one of his properties, Gov. Jim Justice promised to "push back like you can't imagine."

The Consumer Financial Protection Bureau said it was invoking a special authority to supervise entities that pose risks to consumers in taking on World Acceptance Corp.

The USDA forecasted farm profits will plunge 26% this year, potentially creating credit quality challenges for lenders.

The quarterly filings ought to include far more detailed breakdowns of banks' commercial real estate loan portfolios, including the crucial distinction between owner-occupied properties and rentals.

The American Bankers Association's latest credit conditions indices show that economists at major banks are feeling more confident about commercial lending in 2024 — but they stop far short of a ringing endorsement.