CRE

Bank of the James Announces Third Quarter, Nine Months of 2023 Financial Results and Declaration of Dividend

Retrieved on: 
Friday, October 20, 2023
MSA, Sale, Federal funds, Bank, Federal Home Loan Banks, CRE, Environment, C&I, United States Treasury security, Growth, White, NOW, Risk management, PWW, CECL, CFO, Fed, Safety, Total, Bank of the James Stadium, Cryptocurrency, Real estate, Reinsurance, Holding company, Beauty salon, Rare-earth element, Security (finance)

For the nine months of 2023, total interest income was $28.82 million compared with $22.91 million for the nine months of 2022.

Key Points: 
  • For the nine months of 2023, total interest income was $28.82 million compared with $22.91 million for the nine months of 2022.
  • For the nine months of 2023, the yield on interest-earning assets was 4.30% compared with 3.30% for the nine months of 2022.
  • The nine months of 2023 noninterest expense was $24.09 million compared with $24.12 million in the nine months of 2022.
  • The efficiency ratio for the nine months of 2023 was 75.19% compared with 75.53% for the nine months of 2022.

Gantry Reports Steady Commercial Mortgage Production Through Q3 2023 as Q4 Accelerates

Retrieved on: 
Tuesday, October 24, 2023
Professional Services, Insurance, Commercial Building & Real Estate, Finance, Construction & Property, Banking, Principal, Sale, CRE, Participation loan, Freddie Mac, Advertising, Environment, Credit, Creative director, Corporate communication, Fannie Mae, Movement, Self, CMBS, Marketing, Credit union, Bank, Real estate, Security (finance), Gantry

Gantry , the largest independent commercial mortgage banking firm in the U.S., is reporting a steady pace for new loan production through Q3 2023, although current volume remains lower year-over-year after a record 2022.

Key Points: 
  • Gantry , the largest independent commercial mortgage banking firm in the U.S., is reporting a steady pace for new loan production through Q3 2023, although current volume remains lower year-over-year after a record 2022.
  • Multifamily, retail, and mixed-use were the most represented asset classes in Q3 2023 loan production, with self-storage, industrial, office, and hospitality, following in descending order.
  • New loan production volumes have been muted throughout 2023 across the commercial real estate landscape, due to rate volatility and a higher cost of capital.
  • Kim joins Gantry from her most recent position as Creative Director, Marketing and Corporate Communications, with Bellwether Enterprise Real Estate Capital.

Qualtik Partners with JAM FINTOP

Retrieved on: 
Wednesday, October 25, 2023
JAM, Credit, CRE, Environment, Growth, Oregon Venture Fund, Risk, Software, Bank

PORTLAND, Ore., Oct. 25, 2023 /PRNewswire/ -- Qualtik, a technology company that equips community banks and other commercial lenders with software to visualize risk, analyze, and report on their commercial loan portfolios, has partnered with JAM FINTOP.

Key Points: 
  • PORTLAND, Ore., Oct. 25, 2023 /PRNewswire/ -- Qualtik, a technology company that equips community banks and other commercial lenders with software to visualize risk, analyze, and report on their commercial loan portfolios, has partnered with JAM FINTOP.
  • JAM FINTOP(1) is a venture capital firm that invests in bank technology on behalf of regulated financial institutions.
  • Qualtik is helping community banks around the country as they navigate these challenges, and our relationship with JAM FINTOP can accelerate our growth," said Mark Prior, Qualtik Founder and CEO.
  • We are excited to partner with Qualtik and believe its platform can be incredibly helpful to banks in the current environment, where more detailed CRE loan analytics and stress testing are critical," said Matt Kelley, Director of the JAM FINTOP Network.

University of Florida Wins 3rd Annual CREFC Real Estate Debt Case Competition

Retrieved on: 
Tuesday, October 24, 2023
CRE, Student, University, Management

NEW YORK, Oct. 24, 2023 /PRNewswire/ -- The CRE Finance Council (CREFC) hosted its 3rd Annual Real Estate Debt Case Competition in New York City this week, bringing together graduate and undergraduate students from 10 U.S. universities with top-rated real estate programs.

Key Points: 
  • NEW YORK, Oct. 24, 2023 /PRNewswire/ -- The CRE Finance Council (CREFC) hosted its 3rd Annual Real Estate Debt Case Competition in New York City this week, bringing together graduate and undergraduate students from 10 U.S. universities with top-rated real estate programs.
  • Students with a focus on commercial real estate finance participated in this invitation-only competition and were given an opportunity to compete for a total of $45,000 in prize money.
  • Winners of the 3rd Annual Debt Case Competition are:
    "We want to thank our university students for participating in this year's CREFC Real Estate Debt Case Study Competition.
  • It is gratifying to see a passion among graduate and undergraduate students for commercial real estate finance.

KBRA Releases Research – CRE CLO Refinance: Challenges Ahead for 2021-22 Vintage Loans

Retrieved on: 
Friday, October 20, 2023
Professional Services, Insurance, Commercial Building & Real Estate, Finance, Construction & Property, Banking, CRE, Environment, DY, Growth, Lisp (programming language), NCF, Bank

Further, multifamily―the predominant property type in CRE CLOs―experienced robust rent growth, which has subsequently slowed.

Key Points: 
  • Further, multifamily―the predominant property type in CRE CLOs―experienced robust rent growth, which has subsequently slowed.
  • The environment has markedly changed since then, with loans from those vintages likely to face refinancing challenges.
  • The 2021 and 2022 vintages represent a meaningful portion (81.3% by count, 81.6% by balance) of the outstanding CRE CLO universe (2,595 loans, $87.1 billion).
  • Many of the loans in these vintages have not benefited from substantial rental growth as experienced by loans in prior vintages, and did not originate at lower leverage points that now characterize many 2023 vintage loans.

BankUnited, Inc. Reports Third Quarter 2023 Results

Retrieved on: 
Thursday, October 19, 2023
Banking, Professional Services, Finance, Sale, Bank, NPA, NYSE, ACL, NPAS, CRE, LTV, Environment, C&I, FHLB, DSCR, SBA, Rare-earth element, Management, Cryptocurrency, Video game, Real estate, BankUnited

BankUnited, Inc. (the “Company”) (NYSE: BKU) today announced financial results for the quarter ended September 30, 2023.

Key Points: 
  • BankUnited, Inc. (the “Company”) (NYSE: BKU) today announced financial results for the quarter ended September 30, 2023.
  • Non-interest bearing deposits grew by $52 million for the quarter, remaining consistent at 28% of total deposits at both September 30, 2023 and June 30, 2023.
  • The loans to deposits ratio declined to 93.3% at September 30, 2023, from 95.3% at June 30, 2023.
  • The yield on average interest earning assets increased to 5.52% for the quarter ended September 30, 2023 from 5.30% for the immediately preceding quarter.

The First Bancorp Announces Third Quarter Earnings

Retrieved on: 
Wednesday, October 18, 2023
Banking, Asset Management, Professional Services, Finance, Asset, World Bank Director-General Evaluation, Sale, Bank, ACL, CRE, W Holding Company, Efficiency ratio, PTPP, RESULTS, Growth, First National Bank, Common equity, CECL, First BanCorp, First Bancorp, Investment, Tangible common equity, FNLC, Cryptocurrency, Holding company, Rare-earth element, Beauty salon

Unaudited net income for the period was $7.5 million representing an increase of 1.1% from the second quarter of 2023.

Key Points: 
  • Unaudited net income for the period was $7.5 million representing an increase of 1.1% from the second quarter of 2023.
  • Diluted earnings per share were $0.67, level with the prior quarter.
  • Our net interest margin declined slightly to begin the third quarter, however, we are encouraged by an uptick in the margin towards the latter part of the quarter.
  • The Company's Efficiency Ratio (non-GAAP) was 53.49% in the third quarter of 2023, up from 52.27% in the second quarter of 2023.

Western Alliance Bancorporation Reports Third Quarter 2023 Financial Results

Retrieved on: 
Thursday, October 19, 2023
Banking, Professional Services, Finance, Insurance, Sale, CRE, Growth, Risk, Income tax, MSR, HFS, Lender option borrower option, HFI, Total, Bank, Reinsurance, Pharmaceutical industry, Pet industry, Video game

The Company’s net interest margin in the third quarter 2023 was 3.67%, an increase from 3.42% in the second quarter 2023, and a decrease from 3.78% in the third quarter 2022.

Key Points: 
  • The Company’s net interest margin in the third quarter 2023 was 3.67%, an increase from 3.42% in the second quarter 2023, and a decrease from 3.78% in the third quarter 2022.
  • Non-interest income was $129.2 million for the third quarter 2023, compared to $119.0 million for the second quarter 2023, and $61.8 million for the third quarter 2022.
  • Non-interest expense was $426.2 million for the third quarter 2023, compared to $387.4 million for the second quarter 2023, and $305.8 million for the third quarter 2022.
  • Earnings per share totaled $1.97 for the third quarter 2023, compared to $1.96 for the second quarter 2023, and $2.42 for the third quarter 2022.

Pacific Valley Bancorp Announces Third Quarter 2023 Financial Results

Retrieved on: 
Monday, October 23, 2023
Sale, AFS, OTC Markets Group, Federal funds, Bank, Federal Home Loan Banks, Pressure, CRE, PPP, Growth, CECL, Credit, CFO, Equity (finance), Rare-earth element, Cryptocurrency, Security (finance)

SALINAS, Calif., Oct. 23, 2023 /PRNewswire/ -- Pacific Valley Bancorp (OTC Pink: PVBK) announced its unaudited financial results for the third quarter 2023.

Key Points: 
  • SALINAS, Calif., Oct. 23, 2023 /PRNewswire/ -- Pacific Valley Bancorp (OTC Pink: PVBK) announced its unaudited financial results for the third quarter 2023.
  • Net income for the quarter ended September 30, 2023, was $1.3 million representing an increase of 2.2% or $27 thousand from the quarter ended September 30, 2022.
  • Net income for the quarter ended September 30, 2023, was $1.3 million representing an increase of 9.3% or $107 thousand from the quarter ended June 30, 2023.
  • For the Company's subsidiary, Pacific Valley Bank, equity increased to $65.8 million at September 30, 2023 compared to $64.6 million at June 30, 2023.

Real estate tech strategies advance AI, workplace and sustainability

Retrieved on: 
Wednesday, October 18, 2023
Carbon, Internet of things, Digital, Government, CRE, Organization, Data science, Research, ROI, Artificial intelligence, Real estate investment trust, JLL, Virtual reality, AI, Investment, Real estate, Renewable energy, Cryptocurrency, Management

CHICAGO, Oct. 18, 2023 /PRNewswire/ -- Commercial real estate occupiers are willing to put their money where the tech is, according to new research data from JLL's 2023 Global Real Estate Technology Survey released today. Ninety-one percent of occupier respondents are willing to pay a premium for tech-enabled space as they look to technology for strategic value and increased revenue. In fact, real estate tech budgets are set to grow faster than investments in headcount, footprint and operating budgets.  

Key Points: 
  • CHICAGO, Oct. 18, 2023 /PRNewswire/ -- Commercial real estate occupiers are willing to put their money where the tech is, according to new research data from JLL's 2023 Global Real Estate Technology Survey released today.
  • In fact, real estate tech budgets are set to grow faster than investments in headcount, footprint and operating budgets.
  • Following sustainability tech, respondents pointed to artificial intelligence (AI) and generative AI as the technologies expected to have the greatest impact on real estate over the next three years.
  • The 1,006 decision-makers surveyed included over 600 CRE (corporate real estate) leaders at major occupiers and over 400 leaders at real estate investors, landlords and developers.