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“This is absolutely the worst market I’ve seen,” said Hawking, a commercial lender for 30 years who is chief lending officer at Crestview Hills-based Bank of Kentucky Financial Corp. “I never thought I’d see property values drop 30 to 50 percent and demand so tepid with prospects so uncertain. If a bank has exposure to commercial real estate, it is their single largest challenge right now.”
He’s far from alone.
Norwood-based First Financial Bank’s chief credit officer, Richard Barbercheck, is seeing commercial real estate problems across the bank’s footprint. That includes a big chunk of Indiana, much of western Ohio and into Northern Kentucky. It’s hitting all sectors, too.
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