Slowing Real Estate Sales Hurting Banks Earnings
July 12th, 2006 • Related • Filed Under
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Smaller banks in California are starting to be impacted by the real estate slowdown in their state. It will be interesting to see how this plays out in the future.
The slowing housing market is already taking a toll on Bay Area bankers who depend heavily on low-cost real estate deposits.
UnionBanCal Corp., Comerica Inc. and City National Corp. have seen their shares slide as worries mount over how they’ll be affected by their dependence on low-cost commercial deposits and real estate-related escrow balances “via MSNBC.com
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