Finance
Valley National’s Real Estate Loans Are in Strong Shape, CEO Says
- Bank saw $2.8 billion of loans reprice or mature without issue
- Lender’s shares have dropped amid broader regional-bank slump
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Valley National Bancorp’s commercial real estate loans remain in healthy shape despite concerns across the regional-banking industry about property debt, Chief Executive Officer Ira Robbins said.
“Everyone tends to look at a commercial real estate loan and assume it’s the exact same type of loan, the same type of borrower, same type of structure, etc.,” Robbins said Thursday in a Bloomberg Television interview. “The reality is every single real estate loan has some different nuances associated with it, whether it’s an office loan, whether it’s a multifamily loan, whether it’s a single-purpose loan for an owner-occupied individual,” he said, adding that geography and the size of the individual loans also have an impact.