Banks' office-loan exposure remains a ‘mixed bag' as lenders manage through downturn

Banks continue to navigate a bumpy landscape in loans tied to a drop in office-space value and rent prices in many markets as workers stay at home.In one high-profile example on Tuesday, New York Community Bancorp NYCB, -37.67% cited a need to increase its allowance for credit losses (ACL) on the heels of an office loan that contributed to a $185 million charge-off loss and helped trigger a roughly 40% drop in its stock price.“Given the impact of recent credit deterioration within the office portfolio, we d ...