CRE non-accruals still rising at Western Alliance and Valley National
Troubled CRE loans rise further in Q1 despite rate cuts and loan modifications
Western Alliance Bank and Valley National Bank saw non-accrual commercial real estate (CRE) loans hit new highs at end-March, as a hoped-for recovery failed to materialise six months into the US Federal Reserve’s interest rate easing cycle.
At Western Alliance, non-owner-occupied CRE loans in non-accrual status hit $253 million in the first quarter, up 4.1% since end-2024. Valley National’s non
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