Reported 12 months ago
The stock of Dallas regional bank First Foundation plunged after receiving a $228 million investor infusion from Fortress and other firms, highlighting ongoing challenges for regional lenders. The investment aims to reduce the bank's exposure to multifamily apartment loans, with concerns about high commercial real estate exposure and elevated interest rates affecting other regional banks like Bank OZK, Axos Financial, and New York Community Bancorp. As regional banks prepare to report quarterly earnings, investors anticipate increased loan loss provisions due to difficulties in the commercial real estate industry.
Source: YAHOO