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Q1'18 marks 7 years of quarterly multifamily loan growth at US banks


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Q1'18 marks 7 years of quarterly multifamily loan growth at US banks

U.S. banks and thrifts added another $7.12 billion in total multifamily loans in the first quarter, notching growth of 1.8% and pushing the industry's aggregate balance to $411.01 billion.

It was the 28th consecutive quarter of multifamily loan growth for the industry.

Delinquent multifamily loans dropped to 0.26% of total multifamily loans after rising slightly in the fourth quarter of 2017. As of March 31, multifamily loans accounted for 4.2% of total loans and leases, compared to 2.9% in 2011, when the quarterly growth streak began.

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The nation's largest multifamily lender, JPMorgan Chase & Co., added another $322.0 million in loans during the quarter, taking its total balance to $70.52 billion as of March 31. On the other hand, Wells Fargo & Co., the fourth-largest multifamily lender among U.S. banks and thrifts, posted a $272 million drop in the first quarter.

PNC Financial Services Group Inc. dropped to No. 11 from No. 9 in the fourth quarter of 2017 after its multifamily loan balance fell $546.3 million to total $5.33 billion as of March 31.

Among the top 25 multifamily lenders, M&T Bank Corp. posted the highest delinquency ratio at 1.75%, up 144 basis points from the year-ago quarter.

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Click here to access data on the 25 largest multifamily lenders as of March 31, 2018.

S&P Global compiles multifamily data based on loans reported in call reports and Form Y-9s. Click here to see the aggregated data for commercial banks.

For other Data Dispatches on loan growth in the first quarter, click here for a look at community banks and here for an analysis of larger institutions.