High interest rates and borrowing costs have heightened worries of debt defaults in the commercial real estate (CRE) market, which is already in doldrums due...
- Valley National Bancorp reported a slump in its first-quarter profit on Thursday, dragged down by a fivefold increase in rainy-day funds on account of its exposure to commercial real estate .
The lender said the increase in provisions was driven by commercial real estate, commercial and industrial and construction loan portfolios.Investor focus this year is on the CRE exposure in regional lenders' loan books after New York Community Bancorp reported a surprise quarterly loss in January due to writedowns on loans tied to the sector.
Profits of banks, particularly regional lenders, have declined broadly in the first quarter as higher rates raise the cost of holding deposits and discourage borrowers from taking out mortgages and other loans. “Call Her Daddy'”s Alex Cooper Models Her Wedding Night Lingerie in Instagram Reveal: See the Racy LookNEW YORK — New York’s highest court on Thursday overturned Harvey Weinstein ’s 2020 rape conviction, reversing a landmark ruling of the #MeToo era in determining the trial judge improperly allowed women to testify about allegations against the ex-movie mogul that weren’t part of the case. Weinstein, 72, will remain imprisoned because he was convicted in Los Angeles in 2022 of another rape.
The "chosen ones" are reportedly sad they didn't get new roles after Prince William and Kate Middleton's latest appointments.Princess Charlotte will be celebrating her 9th birthday next week, and she has a cool hidden talent! Her mum Kate Middleton recently opened up about her hobby... "So far as I know, you don't pay someone $130,000 not to have sex with you," the Utah senator remarked about the ex-president's payments to Stormy Daniels.
Valley National Commercial Real Estate Fivefold Increase Silicon Valley Bank First-Quarter Profit
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