- GWB was in a tough spot earlier this year when about 20% of its loan book requested payment deferrals or were no longer accruing.
- The current amount of non-performing and deferred loans is now less than 4% of the loan book. Manageable, but still tricky.
- Great Western Bancorp has a lot of exposure to commercial real estate and agricultural loans in the Midwest and could be seen as a call option on the region.
- I'm on the sidelines for now but slightly bullish as the strong "core performance" should help GWB to get through the current crisis.
For further details see:
Great Western Bancorp: The Drastic Dividend Cut Was A Good Move