These banks have high exposure to loans secured by office properties — here’s how their stocks have performed

Investors are right to be worried about declining values for office buildings. We appear to be at the start of a long transition for many cities, after the COVID-19 pandemic made clear that for many types of work, people don’t need to suffer through long daily commutes to be effective in their jobs.

Below is a list of 17 U.S. banks that analysts at Keefe, Bruyette & Woods estimate have exposure to loans secured by office buildings of 10% or more of total loans.

Owners…