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INDUSTRY TRENDS Southeast Banks Battle War, Weak Economy.(A)
Byline: KIRK SHINKLE
As a group, regional banks based in the Southeast are doing pretty well on Wall Street, ranking No. 14 in stock performance out of the 197 industry groups IBD tracks.
That's partly because the region continues to enjoy population and commercial growth, which opens up more business for banks.
Still, war and economic weakness have created several challenges that might spell trouble.
Credit quality is an issue for many banks. So is commercial lending, which remains weak despite low interest rates. Commercial borrowing is also off.
"(Commercial borrowers) recognize the need for investment in their business, and the price of loans is certainly cheap," said analyst Kevin Reynolds of Morgan Keegan. "But if they can (borrow) today with the uncertainty out there -- or wait three to six months -- they'll wait."
On the plus side, southeastern banks continue to benefit from the region's strong housing market, which has boosted consumer and home lending.
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