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Distressed Note Industry
Washington Construction & Development
Analyzing construction & development loan performance across 96 Washington banks
As of Q2 2025, 96 Washington banks report construction & development portfolios totaling $12.3B. Non-performing loans in this category total $96.5M — an average NPL ratio of 0.78% — with $6.7M 30-89 days delinquent, $11.5M 90+ days delinquent, and $85.0M in nonaccrual status. The most distressed lender in this category is FIRST FED BANK (WA) with an NPL ratio of 21.65%.
Total Lenders
96
Total Loan Portfolio
$12.3B
Total NPL
$96.5M
Average NPL %
0.78%
Delinquency Breakdown
30-89 Days
$6.7M
90+ Days
$11.5M
Nonaccrual
$85.0M
Charge-offs
$748K
Banks by NPL Ratio
Distribution of banks by non-performing loan ratio
Top Distressed Banks - Construction & Development in Washington
Highest NPL %| Bank Name | State | Portfolio | NPL | NPL % |
|---|---|---|---|---|
| FIRST FED BANK | WA | $37.5M | $8.1M | 21.65% |
| FIRST FED BANK | WA | $73.6M | $13.1M | 17.74% |
| FIRST FED BANK | WA | $36.1M | $4.9M | 13.68% |
| HERITAGE BANK | WA | $45.3M | $5.8M | 12.71% |
| 1ST SECURITY BANK OF WASHINGTON | WA | $80.3M | $9.1M | 11.32% |
| HERITAGE BANK | WA | $339.3M | $11.7M | 3.45% |
| 1ST SECURITY BANK OF WASHINGTON | WA | $355.2M | $9.1M | 2.56% |
| HOMESTREET BANK | WA | $155.4M | $3.8M | 2.43% |
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Construction & Development in Other States
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