Idaho bank foreclosure holdings skyrocket
July 6, 2009
By MoneyAisle
According to the Idaho Statesman, “the value of foreclosed property held by Idaho banks shot up more than eight fold in the first quarter of 2009 compared to the previous year.”
In the first quarter of 2009, the value of foreclosed property was $53 million, compared with $6.3 million from the first quarter of 2008.
Although the Idaho foreclosure rate is higher than the rest of the nation, the state still scored better in several other areas for the quarter. For example, Idaho banks had higher levels of capital, fewer non-current loans, and higher loan growth.