N.C. banks outperforming peers on real estate loans
July 23, 2009
By MoneyAisle
The Charlotte Business Journal reports that despite dealing with more real estate loans than banks in neighboring states, banks in North Carolina banks have healthier portfolios.
A study done by Forum Capital reveals that “banks based in North Carolina lead the Southeast with $720 billion in real estate loans, about 15.3% of the nation’s total. But only 2.18% of those loans are 90 days or more past due.”
This finding comes in spite of the fact the North Carolina banks tend to have a high number of development loans, which are generally seen as riskier than other types of real estate loans.