The table shows key line items from the FDIC Quarterly Banking Profile comparing data from the end of 2007 versus Q4 2012.

Nonfarm / Nonresidential Real Estate Loans: This category is a portion of what's known as commercial real estate loans (CRE). This category has not suffered the fate of other real estate loan categories with a rise of 10.8% since the end of 2007 to $1.073 trillion.

Construction & Development Loans: C&D loans have been the Achilles Heel for community banks. These are loans to developers and home builders where a significant number of loans became noncurrent. While this asset class is down 67.6% since the end of 2007 it remains elevated at $203.9 billion.

Other Real Estate Owned (OREO): This asset class has been declining since peaking at $53.2 billion in the third quarter of 2010. This is still a source of stress in the banking system because at $38.5 billion is up 217.2% since the end of 2007.

Noncurrent Loans: The peak in this bad loan category was $405.4 billion at the end of Q1 2010. While significantly lower today at $276.8 billion it's up $166.9 billion, or 151.8% higher since the end of 2007. This is another sign that the banking system continues to experience the affects of "The Great Credit Crunch."

The daily chart for the America's Community Bankers Index ( ABAQ) (186.88), which represents 389 publicly-traded community banks, tested a multi-year high last Friday at 187.42. My monthly value level is 180.51 with a weekly risky level at 189.37. I show significant downside risk as my quarterly value level lags at 158.71.

Chart Courtesy of Thomson / Reuters

At the time of publication the author had no position in any of the stocks mentioned.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

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