Fly News Breaks for November 19, 2019
LBC, FFWM, FFIC, EBSB, DCOM
Nov 19, 2019 | 08:35 EDT
Janney Montgomery Scott analyst Brian Martin said there is some concern about rising risk in the banking sector with the economic cycle nearing an end and some banks beginning to relax underwriting standards, pointing out that institutions have been rebuilding commercial real estate concentration levels and CRE exposure is now at a record high. Large banks generally have lower CRE levels and he believes CRE risk could be greater at smaller banks, Martin tells investors. 26% of banks with assets of $1B to $10B have a CRE concentration greater than the 300% regulatory guideline as of Q3, said the analyst, citing FDIC data. Among banks with $5B to $10B in assets, FDIC data shows Dime Community (DCOM), Meridian Bancorp (EBSB), Flushing Financial (FFIC), First Foundation (FFWM) and Luther Burbank (LBC) as among parent companies whose banks have CRE concentration of over 500%, the analyst noted.
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