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Distressed Note Industry
Virginia Multifamily Real Estate
Analyzing multifamily real estate loan performance across 54 Virginia banks
As of Q2 2025, 54 Virginia banks report multifamily real estate portfolios totaling $17.3B. Non-performing loans in this category total $234.4M — an average NPL ratio of 1.36% — with $90.4M 30-89 days delinquent, $535K 90+ days delinquent, and $233.9M in nonaccrual status. The most distressed lender in this category is BANK OF CLARKE (VA) with an NPL ratio of 30.58%.
Total Lenders
54
Total Loan Portfolio
$17.3B
Total NPL
$234.4M
Average NPL %
1.36%
Delinquency Breakdown
30-89 Days
$90.4M
90+ Days
$535K
Nonaccrual
$233.9M
Charge-offs
$34.2M
Banks by NPL Ratio
Distribution of banks by non-performing loan ratio
Top Distressed Banks - Multifamily Real Estate in Virginia
Highest NPL %| Bank Name | State | Portfolio | NPL | NPL % |
|---|---|---|---|---|
| BANK OF CLARKE | VA | $37.5M | $11.5M | 30.58% |
| SELECT BANK | VA | $21.6M | $1.4M | 6.28% |
| HSBC BANK USA, NATIONAL ASSOCIATION | VA | $1.2B | $52.9M | 4.59% |
| OLD DOMINION NATIONAL BANK | VA | $109.9M | $2.3M | 2.10% |
| CAPITAL ONE, NATIONAL ASSOCIATION | VA | $7.7B | $154.7M | 2.01% |
| BURKE AND HERBERT BANK AND TRUST COMPANY | VA | $528.0M | $5.9M | 1.12% |
| LEGACY BANK | VA | $18.9M | $47K | 0.25% |
| MAINSTREET BANK | VA | $245.8M | $606K | 0.25% |
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Multifamily Real Estate in Other States
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