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Construction loans continue to build in Q3'17

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Construction loans continue to build in Q3'17

Construction loans at U.S. banks and thrifts continued marching upwards in the third quarter, reaching $330.75 billion at Sept. 30, a 2.1% increase quarter over quarter and a 9.1% increase from the year-ago quarter. Nonresidential construction loans grew 9.7% year over year to $257.53 billion, while residential construction loans gained 6.8% to $73.22 billion.

Delinquencies on construction loans continued to trend downward, dropping to $2.96 billion. Nonresidential construction loan delinquencies dropped 5.4% quarter over quarter to $2.34 billion. However, delinquent residential construction loans were up slightly to $620 million, a 7.5% increase.

Wells Fargo & Co. remained the largest construction lender among banks and thrifts by far with $23.56 billion in construction loans as of Sept. 30, but both residential and nonresidential construction loans fell quarter over quarter at the bank. JPMorgan Chase & Co. overtook Bank of America Corp. to become the third-largest construction lender in the country at $9.27 billion in loans.

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Information about a company's specific loan types can be found on its Briefing Book page online. For aggregate loan information at U.S. commercial banks, click here.