New York, York, President Trump discussed on Commercial Real Estate News Hour
Bridge loans on transitions so we offer a full gamut gamut which you know with the real estate community. I think they like knowing that they can go back to the same institution. No matter what the asset type is so as you look ahead over the third and fourth quarter. What are you forecasting in terms of sierra loan production all right. I'll forecast that if you can forecast for me steve where the long bond is going to them looking at it today with a one fifty nine right to list sure where yeah i'm not sure any of it is going you know unfortunately you know we we lend off off of a long-term rate and we raise deposits off of short-term rate so it's a very challenging market. It's been challenging you know the past few months and even the past couple of weeks of gotten more challenging you know our cost of funds not dropping as fast as our <hes> cost of loans and so the interest rates on loans have more pressure on them than interest rates on deposits house. It's and you know there is an implied floor that we can only take a loan down so far so that is our biggest challenge right now. <hes> is actually being able to price loans competitive competitive relative to our deposits so depending on how that shakes out for the rest of the year that that is my biggest concern. Life companies do not offer deposits. They have a different source of funding and <hes> when rates go up. We tend to be more competitive. Instantaneous rate shocks. A lot of other people move their cost the money very quickly they moved their interest rates very quickly so when a quick quick upmarket we have a big advantage over the same token in a quick downmarket. You know we don't replace cds or money markets. You know instantaneously. You have a c._d. With us that's a six months today that rates not changing for six months. Investors bank is <hes> a regional bank twenty seven billion in assets or thereabouts outside. How do you compete with the larger banks that are very active in the new jersey new york metro market <hes> what is there is his secret sauce that you guys use <hes> that makes you different once again. I'd say it's because we cover so many different facets. You know once again a lot of other banks. Thanks i have different departments different areas. Maybe they only do certain types of loans because we do a broad base of a lot of different types of loans <hes>. I think that's something that gets us out there in front of everyone. I think the the fact that we're located here new jersey new york a couple of headquarters right here in short hills and new york city access to people is very good that we say that the people you know you're much much quicker. You're going to get our president and our c._e._o. At their for visit then you're gonna you know one of the large orange institutional banks that are nationwide rich spangler is the executive vice president and chief lending officer of investors bank which is headquartered in short hills is new jersey rich. Thanks for taking the time to be with.