Loans tied to commercial real estate and on the verge of trouble reached heights unseen in the past decade. Compared with the previous third quarter, nonaccrual loans in this sector jumped 363%, according to FDIC data. In fact, one expert says, some "owners just give their keys to the bank and walk away."KC-area banks see troubled CRE loans hit rare highs in third quarter, foretelling future challenges
Loans tied to commercial real estate and on the verge of trouble reached heights unseen in the past decade. Compared with the previous third quarter, nonaccrual loans in this sector jumped 363%, according to FDIC data. In fact, one expert says, some "owners just give their keys to the bank and walk away."
Longtime Kansas City banker Peter McVey faces up to 10 years in prison after pleading guilty in federal court to violating anti-money laundering regulations.
Jackson County Executive Frank White vetoed a measure to place a 40-year, three-eighths-cent sales tax on the April 2 ballot to fund stadium construction, renovation and maintenance. And despite an 8-1 vote initially approving the measure by the Jackson County Legislature, four members now say they would sustain the veto.
The Kansas City Current is on a roll. With its new women-specific stadium nearing an opening, with a passel of local businesses signed on as partners, the team now has hired an executive with an impressive sports business résumé. The new team president has 18 years of management experience with NBA, NFL, MLB and NHL teams.
Mission Woods-based Palmer Square Capital held an IPO for an investment fund on Thursday, expected to raise $89.65 million. Once the offering wraps up, the company's subsidiary is expected to reach about $1.35 billion in assets.