23 News banking expert Rick Bastian says there has been a tremendous amount of overbuilding retail space across the U.S. and in Rockford. Many local banks are preparing for more commercial loan losses, if not taking them. Bastian believes most of the toxic loans on banks' books are interest only loans, but he says loans to buy vacant land have been the biggest baggage for local institutions.
Experts say community and regional banks have a larger exposure to commercial loans compared to the 25 largest banks in the U.S.
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