Banks see signs that recession is easing

Bankers grappling with the worst of the commercial real estate crisis are seeing signs that the cycle has hit bottom. That’s good news even as bankers are hit with painful loan losses and tougher regulatory requirements. “The recession is over, and we’re now definitely in recovery,” said Mechanics Bank CEO Steve Buster. “The money that’s been sitting on the sidelines and waiting for two years is now moving into the market.” “I see it every day,” Buster said, referring to investors calling his bank and other lenders seeking to buy troubled commercial mortgages and real estate as well as loan brokers with a growing book of business as more people with money are willing to finance distressed-real-estate transactions.

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