Jason Goldberg‘s Bank Brief | Volume 23, Issue 121 | 7.16.26

Research evidence excerpt

Jason Goldberg‘s Bank Brief | Volume 23, Issue 121 | 7.16.26

urring in certain markets. Brokers in both residential and

CRE mentioned their integration of new AI programs and the cost compared to legacy software.

Sixth District—Atlanta (RF, TFC, NTRS, BAC, FITB, WFC, PNC, JPM)

Overall modest loan growth was supported primarily by consumer lending, even as auto and

credit card lending ticked down. Niche and specialized lending were also strong. An increase in

short-term personal loans or BNPL financing pointed to ongoing household financial strain. C&I

lending declined, and contacts noted many businesses deferred investment as economic and

geopolitical uncertainty continued. Cash-to-assets ratios fell moderately, implying a

reallocation of liquidity into investments or dividends.

CRE conditions were flat in aggregate with sector-specific variation. The flight to quality in

office space persisted, and vacancy rates in Class A space fell into single digits for the first time

since 2020. Contacts noted a shift toward reducing office footprints in favor of upgraded

amenities. The retail sector was stable, with the supply of retail space keeping pace with

demand. Multifamily contacts continued to report elevated vacancy rates and concessions. In

the industrial sector, new supply slightly outpaced demand, and traditional warehousing

experienced softer demand compared to tech-driven logistics space.

Seventh District—Chicago (NTRS, FITB, FITB, HBAN, PNC, USB, JPM, BAC,

RF)

Financial conditions tightened slightly over the reporting period. Bond values increased a bit,

and both equity values and volatility remained flat overall. Business loan demand rose

modestly over the reporting period, with a few contacts noting greater volumes for small

businesses.