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Distressed Note Industry
Washington Multifamily Real Estate
Analyzing multifamily real estate loan performance across 28 Washington banks
As of Q3 2025, 28 Washington banks report multifamily real estate portfolios totaling $8.8B. Non-performing loans in this category total $20.7M — an average NPL ratio of 0.24% — with $14.5M 30-89 days delinquent, $1.6M 90+ days delinquent, and $19.2M in nonaccrual status. The most distressed lender in this category is WAFD BANK (WA) with an NPL ratio of 0.41%.
Total Lenders
28
Total Loan Portfolio
$8.8B
Total NPL
$20.7M
Average NPL %
0.24%
Delinquency Breakdown
30-89 Days
$14.5M
90+ Days
$1.6M
Nonaccrual
$19.2M
Charge-offs
$1.5M
Banks by NPL Ratio
Distribution of banks by non-performing loan ratio
Top Distressed Banks - Multifamily Real Estate in Washington
Highest NPL %| Bank Name | State | Portfolio | NPL | NPL % |
|---|---|---|---|---|
| WAFD BANK | WA | $4.6B | $19.1M | 0.41% |
| HERITAGE BANK | WA | $390.8M | $1.6M | 0.40% |
| OLYMPIA FEDERAL SAVINGS AND LOAN ASSOCIATION | WA | $74.6M | $28K | 0.04% |
| PACIFIC CREST BANK | WA | $83.7M | $20K | 0.02% |
Multifamily Real Estate in Other States
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
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Maine
Maryland
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Michigan
Minnesota
Mississippi
Missouri
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Nebraska
Nevada
New Hampshire
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New Mexico
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North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
West Virginia
Wisconsin
Wyoming
District of Columbia
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