Highlight of the Week
Huntington CEO details reorganization plan
- Huntington Bank is undergoing a reorganization plan that will combine its business units to cut costs and increase revenue.
- The bank will combine its retail & business banking, vehicle finance, and wealth management, private banking, & insurance segments into 2 units: consumer & regional banking and commercial banking.
- Bank CEO Steve Steinour sees wealth management as a “big growth area” for the bank.
Rate Curves
Rapid Report:
Analysis of CRE Delinquencies
- This week the WSJ published a story on recent defaults in commercial real estate.
- While commercial delinquency rates remain historically low, the real concern is with the 15.3% increase from Q3 to Q4.
- The rise in interest rates has increased the cost of buying and refinancing properties.
- Further increases in delinquency rates will test the markets’ ability to absorb them.
