|ConnectOne CEO Frank Sorrentino III|
The FDIC Quarterly Banking Profile for the fourth quarter of 2016 shows increasing exposures to construction and development loans, which are potential problems for these 14 community banks.
Tax and regulatory reforms should help banks in 2017, but don't underestimate the impact of better business sentiment, says Frank Sorrentino, CEO of ConnectOne Bank.
The plight of taxi medallion owners and the banks that lent to them continues, and Medallion Financial appears to be under-reserved.
The FDIC has released positive data for community banks, but these 14 banks have rallied too far too fast.