Sunday, April 5, 2009

Banks With Commercial Exposure

The above table lists banks with $20 billion or more of earning assets and commercial loan ratios of at least 20%. In addition, I have included the amount of junior lien residential loans that these banks are exposed to. This is because this is a particularly weak class: if defaults keep chugging along, how much can these loans possibly be worth (regardless of credit score)?

I went back to the list of banks that held large amounts of goodwill on their balance sheet (post of 2/27/09) and discovered that the following banks appear on both lists:

Bank Name

Holding Company

Associated Bank, National Association

Associated Banc-Corp

Bank of America, National Association

Bank of America Corp.

Bank of the West

BNP Paribas

Branch Banking and Trust Company

BB & T Corp.

Capital One, National Association

Capital One Financial Corp.

Citizens Bank of Pennsylvania

Royal Bank of Scotland Group

Compass Bank

Banco Bilbao Vizcaya Argentaria, S.A.

Fifth Third Bank

Fifth Third Bancorp

Manufacturers and Traders Trust Company

M&T Bank Corp.

Merrill Lynch Bank & Trust Co., FSB

Bank of America Corp.

PNC Bank, National Association

PNC Financial Services

RBC Bank (USA)

Royal Bank Of Canada

RBS Citizens, National Association

Royal Bank of Scotland Group

Regions Bank

Regions Financial Corp.

Sovereign Bank

Banco Santander, S.A.

SunTrust Bank

SunTrust Banks, Inc.

TD Bank, National Association

The Toronto Dominion Bank

The Huntington National Bank

Huntington Bancshares Inc.

U.S. Bank National Association

U.S. Bancorp

Union Bank, National Association

Mitsubishi UFJ Financial Group

This is a great place to start your research if you think that financial stocks have rallied too much.

1 comment:

Anonymous said...

Excellent post, this looks like an excellent "short" list!