Banks, Again

Following the plight of community banks, the Seattle Times reports that “Washington Banks Are Under Stress.” (Blogpost hyperlinks still not working:  http://seattletimes.nwsource.com/html/businesstechnology/2008941813_banks29.html)  This is not because they are deeply involved in home mortgages but because they are deeply involved in real estate development loans.  In the recent stock market rally (of sorts), Banner and Sterling have both been rising in share price.  This morning, Banner is up to $3.02 and Sterling up to $2.02. (Banner still outpacing Citigroup!)  Neither of our local banks is mentioned in the newspaper account, but what is true of other local Washington banks is doubtless true of them as well.  All deposits FDIC insured, of course.