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A bank holding company which provides consumer and corporate banking products and services through its wholly-owned banking subsidiary, Corus Bank, N.A.
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ddberg (82.12) Submitted: 3/05/08 2:06 PM : Start Price: $9.11 CORS Score: 57.52
Has a significant commerical real estate portfolio (as a percentage of its entire loan business), particularly in condo-bubble areas like Las Vegas and Florida. If builders and developers start to (continue to?) struggle due to the continuing real estate swoon, write-offs will follow. This is probably somewhat priced into the stock already, but I would expect things to quickly get much worse if the commercial real estate business heads in the direction that everyone seems to be expecting.
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