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Initial findings of our most recent analysis show that hundreds of banks are grappling with commercial mortgage defaults matching or exceeding the profile of the last two year’s CRE-related bank failures.

Sam Chandan PhD with Mark Gaudette

The count of US bank failures rose to eighty-three this past Friday when the Federal Deposit Insurance Corporation (FDIC) announced that the Nevada Financial Institutions Division had closed Nevada Security Bank (NSB). Acting as receiver, the FDIC has facilitated the prompt transfer of Nevada Security’s deposits to Oregon’s Umpqua Bank. NSB’s branches will open this Monday morning as part of the Umpqua Bank network. The FDIC’s loss sharing agreement with Umpqua Bank will cost the Deposit Insurance Fund an estimated $80.9 million.

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