Banks playing it safe in real estate lending
Steer clear of speculation. That’s the name of the game for banks involved with commercial real estate lending in today’s market
Kenneth Jacobsen, vice president and the newly appointed Santa Barbara and Ventura county market manager for Rabobank, N.A., said his company is “being selective and cautious” about the deals it is making right now, both “to protect the bank and to protect our clients’ interests.”
In 2000, the long-time Santa Barbara resident joined Rabobank – still Mid-State Bank at the time – as a commercial banking officer. He has served as a commercial real estate officer for the last three years. He earned a bachelor’s degree in business and economics from Westmont College.
Jacobsen said Rabobank is focusing on loans for local properties and to local clients the bank has had long-term relationships with. As a result, he said clients should expect “more scrutiny about deals and more conservative underwriting guidelines.”