Independent Banker - April 2024 - 14

PORTFOLIO
Lisa Shelnutt of
United Community
Bank speaking
with CRE customer
Robert Hughes of
Hughes Development
◎FOCUS LENDING
CRE lending: Challenge
or opportunity?
CRE lending is down, but should community banks see it as an opportunity
to win business that the megabanks won't take? By Beth Mattson-Teig
RE lending is muted across the
country, with many borrowers
and lenders on the sidelines due to
a variety of headwinds. Yet some
community banks are hoping to take
advantage of dislocation in the market
to put good loans on the books and
create new client relationships.
One of those banks is Seacoast
Bank in Stuart, Fla. Like many banks
C
across the country, Seacoast saw its
origination volume drop sharply
last year from $1 billion in 2022 to
$500 million. A big reason for that
lower lending volume is the chilling
eff ect of higher interest rates on CRE
transaction activity.
" In general, demand has been
signifi cantly lower from borrowers,
particularly on the investment sales
side, " says James Norton, executive
vice president, commercial real
estate at the $14.8 billion-asset
community bank.
However, Norton is optimistic
about stronger demand ahead in
2024 and the bank's ability to capture
new business. Seacoast is taking a
more strategic, targeted approach to
identifying top sponsors in its markets
of Florida and Georgia that it wants
to do more business with, both on
the credit side and in its ancillary
business lines.
" We're not doing any just
straight-up transactional lending.
Conversations these days are around,
what can we be doing together
long-term from a relationship
standpoint, " Norton says.
Seacoast has invested in systems,
technology and people to appeal to
sophisticated real estate investors and
developers, and the bank is hoping
14 // ICBA Independent Banker // April 2024
Photo: Amy Randall

Independent Banker - April 2024

Table of Contents for the Digital Edition of Independent Banker - April 2024

Contents
Independent Banker - April 2024 - Cover1
Independent Banker - April 2024 - Cover2
Independent Banker - April 2024 - Contents
Independent Banker - April 2024 - 2
Independent Banker - April 2024 - 3
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Independent Banker - April 2024 - Cover3
Independent Banker - April 2024 - Cover4
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