KBRA Financial Intelligence
News & Research
KFI: Bank and Credit Union Risk Platform for Peer Benchmarking
By KFI Staff
An overview of KBRA Financial Intelligence (KFI): A bank and credit union risk platform for peer benchmarking.
3 Things in Credit: Recession Risk, C-Suite Sentiment, and Time for Credit
By Van Hesser
We may be at another inflection point as the move away from globalization takes shape. Something to think about.
Surging Federal Subsidies May Dent Bank Lending to Farmers
By KFI Staff
Farm bankruptcies are back on the rise, but a swell of federal subsidies may halt emerging financial distress. These payments may exacerbate an ongoing slowdown in bank lending to farmers, as massive aid payments could supplant demand for new bank credit.
3 Things in Credit: Strength Into Transition, April 2, and Fed Tea Leaves
By Van Hesser
We were fascinated this week to watch the market’s reaction to earnings out of Williams- Sonoma, the home furnishings chain. Such is the life of a consumer discretionary name that imports in a time of tariffs.
Banks to Feel Impact of Yield Curve Re-Inversion and Emerging U.S. Growth Scare
By KFI Staff
The Trump administration’s move to cut federal expenditures, and the ensuing drop in long-term yields, has made the Federal Reserve’s policy path an even more critical consideration for lenders. Amid market volatility, bank stocks have declined sharply.
3 Things in Credit: Fed Cuts, Airline Read-Across, Syndicated Loan Quality
By Van Hesser
Researchers at MIT have found that the U.S. is not very good at building physical things. So, addressing the U.S.’s most pressing needs—affordable housing, sufficient electricity, efficient transport—will not be easy. Or cheap.
Auto Lending Struggles to Regain Traction as Tariffs Loom
By KFI Staff
Auto lending among U.S. banks has been subdued for the better part of two years. Just as signs of a rebound began to emerge, rising delinquencies and affordability challenges are complicating the situation for lenders.
3 Things in Credit: Stagflation Risk, Growth Scare, and Equities vs. Credit
By Van Hesser
The normalized, higher cost of capital businesses now face is a sterner—and realistic—test than what has been the case for the past decade. It’s a brave new world.
U.S. Banks to Disrupt the Stablecoin Status Quo
By KFI Staff
The market for USD-pegged stablecoins has grown and evolved throughout the past several years but remains highly concentrated. Potential regulatory reforms may allow U.S. banks to disrupt the industry and increase accessibility in digital asset markets.
3 Things in Credit: Cooling Growth, Jobs’ Sentiment Shift, Technical Strength
By Van Hesser
We found it interesting that in 2024, 53% of the 189 companies Berkshire invested in had a year-over-year decline in earnings. Outperforming can be challenging, even for those that can make their own good luck.
Mortgage Delinquencies Rise as Rates and Tariff Threats Weigh on Housing Market
By KFI Staff
Persistently high mortgage rates continue to dampen new loan originations among U.S. banks. Housing supply constraints may intensify as homebuilders face potential tariff hikes, while existing homeowners hold onto lower rate mortgages.
3 Things in Credit: Homebuilder Blues, Walmart Guidance, and Tight Spreads
By Van Hesser
This month is the first time where not a single change was made to either data point by any of the group of 22 Street strategists. What does that say about the current environment? Either we’re too exhausted to keep up, or it’s all bluster.
Major Consolidation of U.S. Bank Regulators Begins to Take Shape
By KFI Staff
The Consumer Financial Protection Bureau (CFPB) is in the crosshairs of the Trump administration’s efforts to cut federal spending and regulation, making the future of financial oversight in the U.S. increasingly uncertain.
3 Things in Credit: Euphoria Downside, M&A Downdraft, and 10-Year Direction
By Van Hesser
One of the more insightful comments I picked up on this week came from David Kelly, Chief Global Strategist at J.P. Morgan Asset Management, who observed that markets have “desensitized to Trump.”
Trump Tariffs May Expand Bank Margins, but Weaken Construction Lending
By KFI Staff
If tariffs are imposed on key U.S. trade partners, inflationary pressures may remain entrenched, supporting long-term yields. While this could widen bank margins, certain lending sectors—particularly construction and development—may face headwinds.
3 Things in Credit: Tariff Time, Credit’s iPhone Moment, and Earnings Check-Up
By Van Hesser
Tariffs on. Tariffs off. Tariffs on. Tariffs off. Welcome to the world of Trump. Total chaos. Nobody can forecast. Nobody can plan.
Bank Lending Impacted by Rising Yields and Booming U.S. Deficit
By KFI Staff
U.S. Treasury yields surged in January, accelerating the steepening of the yield curve. Medium- and long-term rates could be further buoyed by concerns about U.S. deficits and an increasing share of the nation’s debt being wrapped up in T-bills.
3 Things in Credit: Blackstone Earnings Blowout, GDP Miss, and Default Forecasts
By Van Hesser
Kicking things off, here is the least surprising viewpoint on this week’s FOMC decision. Recall that at Davos, the president let the world know that he is demanding that interest rates drop immediately. I guess Chair Powell did not get that message.
Bank Layoffs Surge to Fastest Rate Since 2009 While Credit Union Workforce Expands
By KFI Staff
Over the past two years, banks have implemented aggressive job cuts, with further reductions expected this year. In contrast, credit unions have expanded their workforce to support robust loan growth.
Trump Administration Prepares to Overhaul Bank Regulations and Capital Rules
By KFI Staff
A regulatory freeze signed by President Donald Trump signals sweeping changes for U.S. financial oversight, as new appointees take the helm at federal agencies and inherit broad authority to shape coming adjustments to reserve requirements.
3 Things in Credit: Labor Risks, Tariff Time, and Updated Forecasts
By Van Hesser
So far, with U.S. stocks at all-time highs and U.S. high-yield credit spreads closing in on all-time tights, it’s all good. Can’t we just leave well enough alone? Not a chance.
First Bank Failure of 2025
By KFI Staff
A Chicago, Illinois-based commercial bank became the U.S.'s first failed bank of 2025. Fraud is suspected by regulators who took the bank into receivership and sold it off to another Illinois bank.
3 Things in Credit: Inauguration Bluster, Big Bank Credit Color, and Sentiment Shift
By Van Hesser
In the economy and markets, we’re leaving an environment of the past 40 years where fiscal discipline has turned reckless. And where our economy, now heavily services based, responds differently to monetary policy.
Mapping Banks’ Exposure to West Coast Wildfires
By KFI Staff
Using KFI’s suite of bank data, we analyze the exposure of bank branches, deposits, and assets to the ongoing wildfires scorching Los Angeles County. 2025 has already become the most destructive year for California wildfires since 2018.
3 Things in Credit: 10-Year Blues, Uncertainty, and Credit Card Defaults
By Van Hesser
A hot jobs report comes as a mixed blessing to risk markets. The vibrant U.S. economy continues to roll along, but that in all likelihood ushers back in higher for longer.
Five Charts That Defined Banking in 2024
By KFI Staff
KFI presents a year-end review of five key themes shaping banking as we head into 2025 and highlights the latest product upgrades across our suite of tools and data solutions.
Announcing KFI’s Enhanced Dashboard and Dynamic Datasets
By KFI Staff
KBRA Financial Intelligence has launched a beta version of our newly developed dashboard with new datasets, including enforcement actions, CRA ratings, and 2024 deposit and branch mapping tools.
How a New Era of Crypto-Banking Could Emerge in 2025 and Beyond
By KFI Staff
As U.S. banks have developed their ability to offer digital asset services, stringent regulations have allowed nonbank institutions to dominate crypto. With President-elect Trump set to shape a new regulatory framework, the landscape may shift.
3 Things in Credit: Peak Trump, Animal Spirits, and Debt Warning
By Van Hesser
The market value of Walgreens Boots Alliance has fallen from nearly $100 billion in 2015 to $8 billion today. How does an advantageously scaled retailer of consumer essentials with strong brand equity suffer such a fate?
Slumping New Home Sales Signal Further Challenges for Residential Construction Lending
By KFI Staff
Residential construction activity appears to be weakening in 4Q 2024, compounding five consecutive YoY declines in residential construction lending and slowing growth in other construction and land development loans.
3 Things in Credit: Spread Risk, U.S. Bubble, Holiday Spending
By Van Hesser
I have to admit, the headlines rolling across my Bloomberg this week are a bit out of the ordinary. There’s something happening here. What it is ain’t exactly clear. Well, I guess that’s one way to bring Treasury rates down.
Banks Reignite Debt Issuance Ahead of Potential M&A Resurgence
By KFI Staff
U.S. banks are increasing long-term debt holdings at the fastest pace since early 2023. This may signal expectations for higher long-term rates in the months ahead among financial institutions.
Mortgage Rate Rebound May Weigh on Sales and Spark Delinquency Concerns
By KFI Staff
Rising mortgage rates may keep home sales muted, potentially increasing the age of existing loans and elevating delinquency risks for banks.
3 Things in Credit: Chinese Volatility, Private Credit’s Runway, and Bank Lending
By Van Hesser
The election’s red sweep is now confirmed, and investor exuberance is in full bloom. The S&P 500 is putting up its strongest YTD performance since 1995, having risen by 25% since the start of the year.
Bank Profitability Could Be Reshaped by Next White House’s Tax Policy Drive
By KFI Staff
U.S. banks have benefited from substantial tax savings since the 2017 tax cuts, with further revisions to tax policy anticipated by the end of 2025.
3 Things in Credit: Animal Spirits, Mid-Market Loan Quality, and Higher for Longer II?
By Van Hesser
Fed Chair Powell was asked if he would leave his post ahead of his term ending in 2026 if the President-elect asked him to. Powell steeled himself and delivered a stern one-word response: “No.” Sounds like Chair Powell is not going anywhere.
Analyzing the Surprise Surge in Long-Term Yields and How It Could Bolster Net Interest Margins
By KFI Staff
Traders adjust expectations around future Fed rate cuts. The impact of an elevated benchmark rate on the U.S. fiscal deficit and long-term Treasury yields. The largest monthly rebound in 30-year mortgage rates since 2022
U.S. Election to Impact Bank Revenue From Credit Card and Service Fees
By KFI Staff
New financial sector regulations proposed by both major U.S. presidential candidates may affect noninterest income earned by banks through fees and credit card lending. Efforts to limit fees and annual percentage rates (APR) may face legal challenges.
3 Things in Credit: U.S. Consumer, D.R. Horton, and Bush/Gore Redux?
By Van Hesser
In any event, I think we’ve finally hit a wall in terms of credit market activity, according to my market sources. Activity has ground to a halt ahead of, what’s that again? Oh, yeah, the election. Not that we expect we’ll know all that much on the night.
Election Results to Play Critical Role in Shifting Bank Capital Requirements
By KFI Staff
As U.S. regulatory agencies struggle to agree on new capital rules for banks, the upcoming presidential election could shift the process by influencing leadership appointments, including a new Federal Reserve chair.
3 Things in Credit: U.S. Exceptionalism, Reality Check, and Illiquidity Premium
By Van Hesser
This week, our 3 Things are: U.S. exceptionalism. What’s driving it? Reality check. We’ll check in on two broad-based barometers of economic growth. Illiquidity premium. Here’s how Blackstone sees it.
Bank Earnings Flag Potential Wave of Credit Losses, Loan Loss Reserves Jump to Three-Year High
By KFI Staff
Rising provisions for anticipated credit losses are becoming a recurring theme of the banking sector’s earnings season. Credit cards are leading a gradual uptick in delinquency rates. This may signal a coming deterioration of loan book quality.
3 Things in Credit: Tight Spreads, Big Bank Credit Color, and Consumer Expectations
By Van Hesser
This week, our 3 Things are: Tight spreads. Big bank credit color. Consumer expectations.
Auto Loan Slide Slows, Sparking Opportunity for Banks to Address Surging Delinquencies
By KFI Staff
New and used vehicles discounts have only recently managed to stem a net decline in outstanding auto lending. Potential Fed easing on the horizon may provide banks with an opportunity to offer more competitive financing and refinancing options.
3 Things in Credit: Recession Probabilities, Additional Jobs Data, and Q3 Earnings
By Van Hesser
Interesting to hear Jamie Dimon tick off this week what he sees as unsettling sources of inflation: remilitarization, large fiscal deficit, energy transition, unfavorable demographics. Something to get your mind off of the implications of the election.
Mapping the Banks Facing Disaster Exposure as Hurricanes Slam U.S. Southeast
By KFI Staff
By using KFI’s suite of bank data in conjunction with FEMA disaster data, we analyze the exposure of bank deposits and branches to areas across six states recently slammed by Hurricane Helene. Part of this region could be hit again in the coming days.
3 Things in Credit: Apollo’s Vision, CRE’s Stability, and Default and Recoveries Update
By Van Hesser
The economy printed a 3.0% bump in Q2 GDP, financial conditions are highly favorable, and corporate earnings growth is better than expected. There were off-the-charts jobs reports. Is this all lining up to be as good a landing? Time will tell.
Fed Rate Cuts to Transform Growth of U.S. Money Supply, Heighten Pressure on Banks With Heavy Time Deposit Exposure
By KFI Staff
The Fed’s policy shift and its impact on bank deposit compositions, as well as the M1 and M2 monetary aggregates. A surge in time deposits could create a funding overhang, squeezing some banks’ lending margins.
Utilize KFI to Create Custom Bank Deposit Reports for States, Counties, and MSAs
By KFI Staff
KBRA Financial Intelligence (KFI) breaks down the data behind the FDIC’s latest Summary of Deposits (SOD) report. We utilize two state markets to analyze which banking institutions maintain the largest physical footprints and deposit share.
3 Things in Credit: Fed’s Big Move, Credit Exuberance, and Post-Cut Expectations
By Van Hesser
We know the Fed is beginning the rate cutting part of its cycle. We know that cycle has a way to go. Sure, 50 bps was a surprise to economists and investors (but not markets), judging by polls taken Wednesday prior to the release.
Improving Homebuilding Data Could Boost Construction and Development Lending
By KFI Staff
Outstanding residential construction lending among U.S. commercial banks in 2Q 2024 slipped to its lowest level in years.
3 Things in Credit: Bank Warnings, Small Business Struggles, and Post-Inflation Risks
By Van Hesser
Ally’s unexpected bad debt costs suggest that tighter consumer credit will limit growth. Signals are not reassuring from the sector that accounts for 40% of GDP. Steering clear of zombie companies and global slowdown are near-term risks to navigate.
Mortgage Rate Tumble Yet to Revive Purchase Volume; Outstanding Residential Loans Remain Historically Healthy
By KFI Staff
Most Americans locked into 30-year fixed mortgages bought or refinanced at a rate of 4.0% or less in previous years. That is putting a freeze on mortgage purchasing. The delinquency rate on outstanding residential mortgages remains near historic lows.
3 Things in Credit: Savings Rate, 2025 Earnings, and Beige Book
By Van Hesser
It’s September, which is no long-term investor’s favorite month. It is the only month of the year where the average stock market performance is negative. And in credit, average returns have been negative for the past 10- 20- and 30-year Septembers.
Coming Fed Easing May Finally Allay Banks’ Funding Crunch
By KFI Staff
Fed officials signaled imminent rate cuts, confirming monetary easing and intensifying front-running at the yield curve's long end, which is depressing long-term rates. Short-term rates may hold steady until the Fed's pivot, putting pressure on banks.
3 Things in Credit: Debt Build-Up, Travel Blues, Jackson Hole
By Van Hesser
Van Hesser's latest 3 Things in Credit.
Bank Securities Portfolios Stabilize in 2Q 2024
By KFI Staff
The total securities portfolio of U.S. banks stabilized at $5.5 trillion, with held-to-maturity (HTM) securities representing 44% of the portfolio.
2Q 2024 BHC KFI Scores Released
By KFI Staff
Financial Assessment Scores Released for Over 370 U.S. Bank Holding Companies
3 Things in Credit: Behavioral Drag, Growth Fuel, and Walmart’s Significance
By Van Hesser
If you were lucky enough to sleep through the past two weeks, you would have awakened to a VIX that went from 18 to 15, the S&P 500 that is essentially unch’d, and high-yield credit spreads that drifted a touch wider.
Bank Performance in 2Q 2024
By KFI Staff
KFI’s review of 2Q 2024 bank performance trends
2Q 2024 Bank KFI Scores Released
By KFI Staff
Financial Assessment Scores Released for Nearly 4,500 U.S. Banks
2Q 2024 Bank Snapshot for Regional and Community Lenders
By KFI Staff
Check out KFI’s 2Q 2024 bank snapshot for the top 30 regional and community banks by asset size
2Q 2024 Bank Snapshot for Large U.S. Banks
By KFI Staff
Check out KFI’s 2Q 2024 bank snapshot for the largest U.S. banks by assets
3 Things in Credit: Compressed Spreads, Abundant Liquidity, and Texas Downdraft
By Van Hesser
It’s been a dizzying week of newsflow with FOMC, jobs, and Big Tech earnings. A lot of uncertainty has been cleared up. One last bit of news we’re waiting on—how many Olympic triathletes got sick from swimming in the Seine.
Navigating CRE Risks in Bank Portfolios and the FDIC’s Latest Remarks on Banking Regulation
By KFI Staff
KFI Insights: Analyzing Regional Banks’ CRE Exposure, FDIC’s Brokered Deposits Stance, and M&A Highlights
Introducing the All-New Version of KFI’s Excel Add-in
By KFI Staff
The updated version of the KFI Excel add-in comes with important enhancements for Pro users.
3 Things in Credit: Rate Cuts, Hot GDP, and Two Economies’ Delinquencies
By Van Hesser
Van Hesser's latest 3 Things in Credit
Comprehensive Loan Portfolio With Past Due Details for GAAP Data Now Available on KFI
By KFI Staff
Access enhanced GAAP data for loans on KFI. Pro users can explore granular loan categories including health care, government, commercial real estate (CRE), and student Loans with detailed past due breakdowns.
3 Things in Credit: Darkening Credit Markets, Updated Forecasts, and Citigroup’s Consumer Results
By Van Hesser
Van Hesser's latest 3 Things in Credit
Unlock Growth Potential With Our Branch Map and Deposit Summary Features
By KFI Staff
KFI subscribers can quickly identify and analyze M&A opportunities with pro forma exploration using our branch mapping tool and SOD data.
3 Things in Credit: Second Half Themes, Earnings Expectations, and Goldilocks Challenged
By Van Hesser
Van Hesser's latest 3 Things in Credit
Market Volatility Scores for the Largest U.S. Public Banks
By KFI Staff
KFI’s Market Volatility Scores can help identify banks with heightened liquidity risk in real time.
Bank NIMs Compress; C&D Loans Concentrated in the Largest U.S. Banks
By KFI Staff
In the June 2024 edition of KFI Insights, we cover bank NIM changes, C&D loan concentration, the latest Fed research, and recent M&A deals.
3 Things in Credit: Capex Canary, CRE’s Broader Threat, and Election Tailwind
By Van Hesser
U.S. credit is as sanguine as it has been in history. Over the last 100-plus years, BBB yields have rarely been as low relative to T-bills. The curve is almost flat. This, courtesy of our friends at Deutsche Bank.
Steady Rise in Credit Union Members, Shares & Deposits, and Lending
By KFI Staff
Credit unions experienced steady growth in membership, deposits, and lending.
3 Things in Credit: Bulls’ Run, Politics of Rates, Aviation
By Van Hesser
It’s also midyear outlook time and a sampling of titles from various sources has always been an interesting exercise. In the latest batch, we notice a common thread of caution.
Engage with KFI's New Loans and Leases Portfolio
By KFI Staff
Explore the new detailed loans and leases portfolio
Bank Delinquencies Stabilize and Loan Growth Falls in 1Q 2024
By KFI Staff
The first quarter of 2024 indicates a decline in loan growth and stabilization in bank delinquencies.
3 Things in Credit: Visibility, Financial Conditions, and Tech Impact
By Van Hesser
We’re all data dependent, right? I’m not sure what the alternative is.
1Q 2024 KFI Credit Union Scores Released
By KFI Staff
Financial health scores released for 4,600+ credit unions.
3 Things in Credit: Bank Risk, Corporate vs. ABS Spreads, and ECB’s Rate Cut
By Van Hesser
Banks, spreads, and rate cuts. Let's dig a bit deeper.
Banks’ Cost of Funding Moves Higher
By KFI Staff
This month we cover rising cost of funds, Fed study on March 2023 bank failures and recent M&A
3 Things in Credit: Private Placements, Fallen Angels, and Housing
By Van Hesser
Can you handle complexity and illiquidity? The Chicago Fed says it's in your interest to do so.
3 Things in Credit: Fiscal Deficits, Seeing Around Corners, and Fundamentals Check-up
By Van Hesser
Summer's here and the time is right for thinking about the future. With risk priced aggressively, now is the time to test your conviction.
Bank Performance in 1Q 2024
By KFI Staff
A review of 1Q 2024 banking trends
3 Things in Credit: Inflation Break, Two Economies, and Vanishing Excess Savings
By Van Hesser
Jamie Dimon dismisses Goldilocks as "happy talk." 3 Things doesn't fall prey to that. This week we sift through the inflation data, take stock of our Two Economies, and notice that $2.1 trillion of savings is gone.
Bank KFI Score Trends 1Q 2024
By KFI Staff
Bank KFI Scores fell in 1Q 2024, with declines outpacing increases.
3 Things in Credit: Credit Card Losses, Bank Risk Appetite, Private Credit’s Middle Market Trends
By Van Hesser
Wondering how middle market borrowers in private credit are doing? We've got some data that the market has found interesting. Have a look/listen.
1Q 2024 KFI Bank Scores Released
By KFI Staff
Financial health scores released for 4,500+ banks.
1Q24 Bank Snapshot for Largest, Regional and Community Banks
By KFI Staff
KFI's Snapshot report compares lenders across five financial metrics.
3 Things in Credit: Good Things Fading, Bankruptcy Trends, and Thresholds That Shift Sentiment
By Van Hesser
What data thresholds shift sentiment when crossed? We list the ones we watch in today's 3 Three Things.
Banks With Highest Market Volatility Scores
By KFI Staff
KFI’s Market Volatility Scores Can Identity Banks With Heightened Liquidity Risk
First Bank Failure of 2024
By KFI Staff
In the April edition of KFI Insights, we cover the failure of Republic First, Van's view on Big Bank Earnings and recent M&A transactions.
3 Things in Credit: Big Bank Color, Net Worth Surge, and Treasury Volatility
By Van Hesser
Jay Powell tells us the economy's strong, so why is that bad news? It's not been for the big banks, where actual loan losses--and the outlook--remain relatively benign.
Banks with High Concentrations of Uninsured Deposits and Commercial Real Estate
By KFI Staff
Banks reporting above-average exposure to fast-moving deposits and CRE
Credit Card Delinquencies at 12-Year High in 4Q 2023
By KFI Staff
The largest credit card lenders and their delinquency rates across time.
3 Things in Credit: Hot CPI, Earnings Season, and Event Risk
By Van Hesser
What to make of that CPI print? Beware of the kneejerk reaction. Here's what we think it means for credit.
Credit Union Subordinated Debt Approaches $4 Billion
By KFI Staff
Credit union debt reached a new record after changes to regulatory rules made it easier for the lenders to tap the market.
3 Things in Credit: Small Business Signals, Single-B Spreads, and Apparel Company Guidance
By Van Hesser
On yet another hot jobs report day, we highlight color from small businesses and apparel companies that provides a counterpoint to that "no landing" scenario.
4FQ 2023 Earnings Across the Big Four U.S. Banks
By KFI Staff
Sankey charts of the big four banks' income statements.
CRE Delinquency Rate Climbs to 10-Year High at Biggest Banks
By KFI Staff
The March 2024 edition of KFI Insights covers increasing CRE stress, introduces MVS Scores and highlights recent M&A deals
3 Things in Credit: Economic Slack, Equity Euphoria, and Consumer Lenders
By Van Hesser
So the Fed's latest forecast has gone full-on no landing. This week, we pick up on signals in the economic data, as well as the equity market that suggest something a bit softer. Let us know what you think.
Largest U.S. Banks by Total Assets, 4Q 2023
By KFI Staff
The biggest U.S. banks ranked by total assets in 4Q 2023, according to GAAP data.
3 Things in Credit: U.S. Exceptionalism, C-Suite Confidence, and Banks, A Year Later
By Van Hesser
What's behind U.S. exceptionalism? We have a look amidst this "everything boom."
Benchmark Credit Unions with KFI
By KFI Staff
Analyze all U.S. credit unions, leveraging Call Report data and KFI Scores.
New York Community Bank Tear Sheet for Flagstar, 4Q 2023
By KFI Staff
KFI's quarterly snapshot report provides a high-level view of the financial condition of NYCB's main subsidiary, Flagstar.
3 Things in Credit: Powell’s Dilemma, FICO Rolls Over, and Direct Lending Update
By Van Hesser
Yet another risk-on week! Jay Powell's job is not getting any easier. This week, we delve into his decision to cut or not to cut. And our default specialist Eric Rosenthal updates his views on both default and recovery rates. Happy listening!
3 Things in Credit: Commodities Downdraft, Financial Conditions, and Choiceful Consumers
By Van Hesser
Lots of euphoria talk out there in equities, that hasn't exactly passed through into credit markets. Why is that? Check out the latest 3 Things for some answers.
Bank KFI Scores Stabilize After Declines; Brokered Deposits Hit Record
By KFI Staff
The February edition of KFI Insights dives into the latest KFI Scores, growth of brokered deposits and snapshot reports
3 Things in Credit: Copy of Bank CRE Risk, Slowdown Earnings, Private Credit Borrowers
By Van Hesser
I know, I know, it's NVIDIA's week (and that certainly did not hurt credit markets). Only slightly less topical is bank commercial real estate risk, a slowing economy, and private credit borrowers.
Track Bank Loan Delinquencies With KFI’s Instant Analysis
By KFI Staff
Determine which lenders are reporting an increase in nonperforming loans.
3 Things in Credit: Strong Technicals, Market Volatility, and Hot vs. Cold Data
By Van Hesser
Van digs into tighter spreads, a volatile equity market and the still expected soft landing.
3 Things in Credit: Credit Card Delinquencies, the SLOOS, and Barkin Wisdom
By Van Hesser
This was the week when the S&P crossed 5,000. Yet, credit card delinquencies are on the rise, bankers are still tightening, and the Fed reminds us that we are still not out of the woods.
4Q 2023 Bank Snapshot for Large, Regional and Community Banks
By KFI Staff
KFI's bank snapshot analyzes the biggest lenders across five financial metrics for 4Q 2023
3 Things in Credit: New York Community Bank, Nonbanks and IMF’s Forecast
By Van Hesser
Another eventful week in markets, who would have thought New York Community Bank would be so impactful?
Van’s View on Bank Earnings, Liquidity Rule Proposal, and Recent M&A
By KFI Staff
KFI's January edition covers first quarter earnings, potential rules to prevent another bank run and recent M&A.
3 Things in Credit: Strong GDP, Narrowness, and Earnings Warnings
By Van Hesser
Don’t fight the tape. Words of wisdom, for sure, and we seem to be caught up in one of those moments where that advice is well taken. Don’t fight the tape.
96% of Bank Failures From 2010 Through 2023 Had KFI Scores of D or Lower
By KFI Staff
KFI Score Bank Failure History
3 Things in Credit: Soft Landing, Big Bank Color, and Private Credit Maturity Wall
By Van Hesser
We start with economic growth. By definition, that means we are in the 50% of market strategists that see no recession.
3 Things in Credit: Problem Loans, Geopolitics, and Default Forecast
By Van Hesser
By the time you hear this, you will have seen and heard about Q4 earnings from J.P. Morgan Chase and hashtag#Bank of America. Both, obviously, great proxies for the broad economy—how consumers are doing, how businesses are doing, how they’ve done.
Track Bank Peers’ Cost of Funding
By KFI Staff
See which lenders are reporting bigger jumps in their costs of funds relative to peers
3 Things in Credit: Banks, Sentiment Split, and Financial Conditions
By Van Hesser
We discuss how the banks are alright, dig into recession calls and examine how loose financial conditions are.
2023 by the Numbers
By KFI Staff
December's KFI Insights highlights some key numbers throughout the year, our KFI product upgrades, recent M&A deals, and Van Hesser’s latest 3 Things in Credit.
3Q 2023 NIM Movers Among Largest Lenders to Community Banks
By KFI Staff
View the top 15 banks by 3Q 2023 net interest margin (NIM) expansion and compression across bank asset size.
KFI Score Scale
By KFI Staff
A list of KFI Score definitions.
CRE Stress Climbs at Largest Banks
By KFI Staff
The November edition covers climbing CRE Stress, KFI Score moves, and recent M&A.
3Q 2023 Bank KFI Scores Tick Lower
By KFI Staff
Trends in 3Q 2023 bank KFI Scores
3Q 2023 Bank Snapshot for the Large, Regional and Community Lenders
By KFI Staff
The analysis compares banks across five financial metrics
Iowa Bank Shuttered, Becoming Fifth Failure This Year
By KFI Staff
A small community lender in Iowa was shuttered by regulators on November 3, marking the fifth bank failure this year.
Small Credit Unions Decline, Higher for Longer, M&A Deals
By KFI Staff
The October edition of KFI Insights covers the decline in membership at small credit unions, the effect of higher interest rates and recent M&A.
$1 Trillion Credit Card Debt in Focus
By KFI Staff
The U.S. consumer is showing signs of stress with credit card balances reaching a record $1.03 trillion in Q2 2023.
U.S. Bank Deposits Drop by $870 Billion
By KFI Staff
Bank deposits fell about $870 billion on a year-over-year basis for the first time in records going back to 1994
2Q 2023 Brokered Deposits Jump
By KFI Staff
The September 2023 KFI Insights delves into the growth of brokered deposits, recent M&A and the bank snapshot report.
2Q 2023 Bank KFI Scores Trend Lower
By KFI Staff
KFI Bank Scores were down in 2Q 2023 on declining asset quality and increased funding costs
KFI's 2Q 2023 Bank Snapshot
By KFI Staff
KBRA Financial Intelligence (KFI) releases a peer snapshot for the top 30 banks by asset category for 2Q 2023.
U.S. Banks Exceeding CRE Regulatory Guidelines Wane in Second Quarter
By KFI Staff
The August 2023 KFI Insights examines CRE exposure, recent M&A and Van's 3 Things in Credit.
Kansas Bank Collapse Becomes Fourth Bank Failure This Year
By KFI Staff
A small community bank in Kansas failed on July 28, becoming the fourth lender this year to be taken over by regulators.
Slow First Half for Bank M&A Following Lender Failures
By KFI Staff
The July 2023 KFI Insights discusses the slow start to M&A, potential new capital rules, and KFI upgrades.
Midwestern Bank Scores Fall the Most on Declining Asset Quality
By KFI Staff
The June 2023 KFI Insights delves into KFI Score trends, future Fed hikes and first quarter earnings review.
1Q 2023 KFI Scores Show Broad Decline in Bank Grades
By KFI Staff
KFI Scores broadly fell in 1Q 2023 to the lowest aggregate level in two years, with 858 total downgrades outpacing 488 upgrades.
CRE Delinquency Rates Muted Among Community Banks; Highest for Largest Lenders
By KFI Staff
The commercial real estate (CRE) crunch widely discussed to hit small and regional banks is so far having a bigger impact on the largest lenders, according to a KBRA Financial Intelligence (KFI) analysis of all U.S. banks.
Bank Fallout; Fed Raises Rates, Signals Pause
By KFI Staff
The May 2023 KFI Insights covers the bank fallout, Fed hikes and potential FDIC insurance expansion.
JPMorgan’s Takeover of First Republic
By KFI Staff
Analysis of JPMorgan's takeover of First Republic Bank, the second-largest bank failure in U.S. history.
CRE Bank Stress, Ethan’s Take on Bank Supervision and Crisis Timeline
By KFI Staff
The April 2023 KFI Insights covers the rise in CRE Bank Stress, the fallout from bank failures and how a bank run started the biggest financial crisis in 15 years.
First Republic’s Profitability Metrics Lagged Peers Before Market Selloff
By KFI Staff
Before announcing a $30 billion capital infusion last week, First Republic Bank lagged peers in profitability metrics.
Signature, Silicon Valley & Silvergate Banks Held More Than 95% of Deposits in Their Home State
By KFI Staff
The collapse of the three regional banks highlights the risks of lenders holding large concentrations of deposits.
Identify Bank Risk with Uninsured Deposits Using KFI
By KFI Staff
Recent KBRA Financial Intelligence (KFI) analysis found that 47 lenders had 75% or more of uninsured deposits.
Banking M&A Remains Muted; Executives Optimistic In 2023
By KFI Staff
The March 2023 KFI Insights digs into the slow start to M&A, recent Fed research and Van's 3 Things in Credit.
Slow Start to the Year for Banking M&A
By KFI Staff
The inaugural issue of KFI Insights highlights challenges in bank M&A so far in 2023.
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