By the Numbers: Real estate-owned properties

Regional and community banks with a major presence in Arizona have seen their real estate-owned property portfolios skyrocket during the recession. As the real estate market crumbled, banks have foreclosed on properties at a historic rate, bulking up their real estate assets. The 10 regional and community banks in Arizona with the most real estate-owned property totaled more than $607 million in value in the third quarter of 2009. That’s roughly three times the amount from third-quarter 2008. Fourth-quarter information for the banks listed below was not available at press time. With banks holding such a staggering amount of real estate, much of it declining in value, it could be years before these mostly unwanted assets come off the books. Total: These banks added... $404.5 million to their REO portfolios from third-quarter 2008 to third-quarter 2009. Source: Federal Deposit Insurance Corp.

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