Investor Presentaiton
RESG Portfolio By Origination Date & LTV (As of September 30, 2023)
The loan-to-value ("LTV") metrics on individual loans within the RESG portfolio as of September 30, 2023, are illustrated below. All credits had LTV
ratios of 68% or less, except for three credits which have been discussed in previous Management Comments documents, and are as follows:
•
.
Development near Lake Tahoe. A $56 million performing credit which has been substandard accrual since 2019 and has an 84% LTV.
Minneapolis hotel. A $19.98 million credit which became past due during the quarter just ended, resulting in a downgrade from substandard-
accrual to substandard-nonaccrual and a $3.78 million charge-off. This credit is subject to ongoing collection efforts and is carried at 85% of "as-
is" appraised value.
Chicago land. A $128 million performing credit which is special mention and has a 95% LTV. The sponsor is working to bring in new capital, is
considering a potential extension and, at quarter end, had a cash reserve with us of approximately $8.0 million that is not included in the LTV
calculation.
Loan-to-Value Ratio
110%
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Bubble Size Reflects Total Funded and Unfunded Commitment Amount
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•
Multifamily
• Mixed Use
⚫ Office
⚫ Life Science
Condo • Industrial
• Land
⚫ Hotel
Dec-14
Origination Date
O Retail
SF Lots & Homes
LTV ratios assume all loans are fully funded. LTV data based on most recent appraisals and utilizing, in most cases, "as stabilized" values for income producing properties.
13
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