Two local lenders are hit by problem loans – Boston Business Journal:

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, a lender with $456 millionj in assets, has escalatint distress in residentialconstruction loans. At the end of March, the bank reportex that 18 percent ofthoses $46.2 million in loans were delinquengt or not producing at contractual interest rates. And in another sign of trouble, the bank has foreclosedc on $10.2 million worthh of construction-related real estate, according to filings with the Federalo DepositInsurance Corp. Meanwhile, the bank’w $20.9 million commercial and industrialportfolio — working capital loans to businesses — showse nearly $5 million in nonperforming FDIC data shows.
The bank has built a reservs ofnearly $4 million for potential loan losses, but the amount of distressed nonaccrual loans in its portfolio is nearl five times that amount, FDIC data shows.