May 13, 2025 (NO COMMENTS)

Western Alliance Bank and Valley National Bank saw non-accrual commercial real estate (CRE) loans hit new highs at end-March, as a hoped-for recovery failed to materialise six months into the US Federal Reserve’s interest rate easing cycle.

At Western Alliance, non-owner-occupied CRE loans in non-accrual status hit $253 million in the first quarter, up 4.1% since end-2024. Valley National’s non-accrual balances, which include both owner- and non-owner-occupied CRE, rose 9.4% over the quarter to