The quick read: Banks' third-quarter 2026 earnings exhibits say an office refinance with a bank is still possible, but the renewal is underwritten as a new credit decision. Two regional banks reserve 7.6% and 7.1% against office loans, three to four times their allowance on all commercial real estate (Bank A) and investor real estate (Bank B), and one says its coverage plus past charge-offs equates to an expected loss rate of about 19%. Office balances are down 10% year over year at one bank and total CRE is down about 9% at another, and about a third to two-thirds of office loans at the two banks that disclose it mature within 12 months. Plan for a fresh valuation and a paydown request. Stabilized, low-leverage office is the file that still renews on bank terms.
Four regional banks filed third-quarter 2026 earnings exhibits with the SEC between October 16 and October 19, 2026. We read the office slides in each one and refer to the banks as Bank A through Bank D, because the useful question for an office investor is what a bank renewal file now has to clear, not which bank wrote the slide. These are four banks' own disclosures, not an industry-wide rate.
Filing window: October 16 to October 19, 2026 (Form 8-K earnings exhibits)
Highest portfolio-level office reserve disclosed: 7.6% of general office loans (Bank A, September 30, 2026)
Largest share of office balances maturing within 12 months: about 66% (Bank B, September 30, 2026)
Lowest portfolio-level office reserve disclosed: 2.7% of office balances (Bank D, third quarter 2026)
How much are banks reserving on office loans in Q3 2026?
Two of the four banks held reserves above 7% of office balances at September 30, 2026: Bank A at 7.6% on general office and Bank B at 7.1%, about three and four times their allowance on all commercial real estate (Bank A) and investor real estate (Bank B). Bank D reserves 2.7%; Bank C discloses no office reserve.
Bank A's presentation, filed October 16, 2026, says its allowance for credit losses (ACL) covered 7.6% of its commercial real estate general office loans, and that this coverage, combined with charge-offs taken on the portfolio since March 31, 2023, equates to an expected loss rate of about 19%. A footnote measures that rate against the $4.1 billion general office balance the bank held at March 31, 2023, which it calls the start of loss emergence. The same exhibit's allocation table puts the allowance on all of its commercial real estate at 2.52% of loans at September 30, 2026.
Bank B's exhibit, filed the same day, shows a $773 million office portfolio carrying a $55 million allowance, or 7.1% of loans, against 1.74% for its total investor real estate book. Inside office, the reserve rate was 8.5% on multi-tenant loans and 6.9% on single-tenant loans. Its nonperforming office loans were $134 million, or 17.3% of the portfolio.
Bank D, which filed on October 19, 2026, reserves 2.7% of its $1.5 billion office balance, equal to 43% of criticized office balances, against 1.2% for its commercial real estate book overall.
General office reserve, Bank A, September 30, 2026: 7.6%
All commercial real estate reserve, Bank A, September 30, 2026: 2.52%
Office reserve, Bank B, September 30, 2026: 7.1%
Investor real estate reserve, Bank B, September 30, 2026: 1.74%
Office reserve, Bank D, third quarter 2026: 2.7%
A reserve is the bank's own estimate of losses on loans it already holds. It is not a price, but it explains the posture you meet at renewal: a bank carrying a 7% office reserve has already booked an expectation of losses in the category, so a maturing office loan goes back through credit rather than rolling on its old terms.
How much office debt do these banks have maturing in the next 12 months?
Bank B says $508 million, or about 66% of its office balances, will mature in the next 12 months including loans that have already matured, and Bank D says 35% of its total office exposure has a maturity date in that window, so a large share of these office books faces a renewal decision now.
Those maturities are arriving while two of these banks shrink their real estate books. Bank D reported office balances down 10% year over year through payoffs, loan rebalancing and amortization, and down 38% since the first quarter of 2021. Bank A reported its total commercial real estate portfolio down $2.2 billion, or about 9%, year over year, driven primarily by paydowns, and its allowance commentary attributes a slight decline in reserves to "improved loan mix, with reductions in the CRE General Office and Multi-family categories." That is the bank's own loan-mix language, and an office renewal request runs against that direction.
Bank C did not state a 12-month office maturity figure. It reported $3.1 billion of office commitments, 12% of them criticized, with 54% appraised within the last 18 months and 38% originated in 2023 or later.
Office balances maturing within 12 months, Bank B, September 30, 2026: $508 million, about 66% (includes matured balances)
Office exposure maturing within 12 months, Bank D, third quarter 2026: 35%
Office balance change, Bank D, year over year through the third quarter of 2026: down 10%
Commercial real estate balance change, Bank A, year over year to September 30, 2026: down $2.2 billion, about 9%
Table: Office books at four regional banks, Q3 2026 earnings exhibits
| Measure | Bank A | Bank B | Bank C | Bank D |
|---|---|---|---|---|
| Measure Exhibit filed | Bank A Oct 16, 2026 | Bank B Oct 16, 2026 | Bank C Oct 19, 2026 | Bank D Oct 19, 2026 |
| Measure Office balance | Bank A $3.6B, incl. $1.9B other general office | Bank B $773M | Bank C $3.1B committed | Bank D $1.5B |
| Measure Office reserve (ACL) | Bank A 7.6% of general office | Bank B 7.1% | Bank C Not disclosed | Bank D 2.7% |
| Measure Comparison CRE reserve | Bank A 2.52% of all CRE | Bank B 1.74% of investor real estate | Bank C Not disclosed | Bank D 1.2% of CRE |
| Measure Problem-loan share | Bank A Not broken out for office | Bank B 17.3% nonperforming | Bank C 12% criticized | Bank D 2.0% nonaccrual, 6.4% criticized |
| Measure Maturing within 12 months | Bank A Not disclosed | Bank B About 66% ($508M) | Bank C Not disclosed | Bank D 35% |
| Measure Weighted LTV | Bank A Not disclosed | Bank B 68% (85% stressed) | Bank C 58% on stabilized office | Bank D 53% |
Banks A, B and D state their figures as of September 30, 2026 or through the third quarter; Bank C's come from its third-quarter 2026 earnings presentation and are stated as commitments rather than outstanding balances.
What do the Q3 filings mean for your office renewal file?
For an office borrower, the filings mean a bank renewal is decided on today's value, today's leasing and the bank's appetite for the category, so plan for a fresh appraisal or evaluation, a request to pay the loan down to a lower leverage level, and conditions such as added reserves or a cash sweep.
The valuation step is written into the rules. Under the OCC's appraisal rule, 12 CFR 34.43, a renewal of an existing loan can proceed without a new appraisal when there is no advancement of new money other than reasonable closing costs, or when no obvious and material change in market conditions or the property threatens the bank's collateral protection. Even then, the bank must obtain an appropriate evaluation of the real estate, and the OCC can require an appraisal to address safety and soundness concerns. The filings show the banks doing that work: Bank C says 100% of its substandard construction and lease-up office credits were reappraised, and Bank D says about 42% of its classified commercial real estate balances carry 2026 appraisals.
Leverage is where a paydown request comes from. Bank B reports a weighted LTV of 68% on its investor office loans, based on appraisals at origination or the most recent received, and 85% when it applies a 33% property price index discount to properties whose latest appraisal is more than a year old. Illustrative example (our arithmetic, not a bank quote): a $10,000,000 loan written at 65% of a $15,400,000 value sits at about 83% if the new valuation is $12,000,000, and returning it to 65% means a paydown of about $2,200,000.
The files that renew look like the sounder books in these exhibits. Bank C's stabilized office, $2.4 billion or 78% of its commitments, carries a weighted LTV of 58%, a debt yield of 11% and a DSCR of 1.3x, with 6% criticized. Its construction and lease-up office, $673 million, is 34% criticized ($227 million). The bank says all of the substandard credits in that group were reappraised and that all of its criticized credits there come from 2020 to 2022 vintages. Bank D's term office portfolio is 87% leased on a weighted basis. The paydown and extension mechanics in general are covered in should you extend or refinance a maturing commercial loan.
Where else can an office loan go if the bank will not renew on your terms?
If the bank asks for a paydown you cannot fund or terms you cannot carry, the loan can move to another bank or credit union with appetite for the asset, a life company for low-leverage stabilized office, a CMBS conduit, or a debt fund or bridge lender for a lease-up plan, or stay put through a negotiated extension.
Each channel looks at the same building differently. A bank renewal is anchored to that bank's existing reserve and category exposure, and a bank shrinking its office book, as Bank D's 10% year-over-year decline shows, may prefer a payoff to a renewal. A lender with no existing position in your loan underwrites the building fresh. Bridge and debt-fund lenders underwrite a lease-up plan on its business plan, typically at a higher coupon and a shorter term. When the new loan comes in smaller than the old balance, a cash-in refinance, where the owner brings equity to close the gap, is the route.
The full set of office refinance paths, including a discounted payoff, is in can you refinance an office building in 2026. Whatever the channel, the lender reads the same three numbers the banks put in their exhibits: value, leasing and leverage.
How do you get an office refinance placed when your bank is pulling back?
Our first recommendation, as the publisher of this guide, is YieldStack, a commercial mortgage brokerage that matches an office refinance against loan programs from many lenders, compares their terms side by side and negotiates the renewal or the replacement loan on your side before the maturity date forces a decision.
YieldStack is an AI-native commercial mortgage brokerage that arranges financing for commercial real estate investors. Software matches the deal against 20,000+ loan programs and compares the options; human brokers structure the deal, negotiate on the borrower's side and carry it toward closing. YieldStack reports a median first offer in under an hour, from an institutional lender. Every credit decision is made by the lender; YieldStack arranges the introductions and negotiates on the borrower's side, and no loan, rate, or closing is guaranteed.
That fits a bank office maturity for three reasons the filings above make concrete. A bank shrinking its office book may answer with a paydown, and a second and third term sheet show whether that paydown is a market term or one bank's preference. Value and leverage decide the outcome, so the package needs the rent roll and current leasing before a lender orders its own valuation. And timing matters: with 35% to 66% of office exposure or balances maturing within 12 months at the banks that disclose it, an owner who starts late negotiates against the calendar. It costs Zero upfront to submit a deal and review offers; YieldStack's broker fee is 0.50–1.00% of the loan amount and is paid only at closing.
The package that gets comparable office terms carries:
- Current rent roll with every lease expiration, renewal option and termination right
- Trailing 12-month operating statement and the current-year budget
- Your existing loan terms, maturity date and any extension options
- The most recent appraisal, if you have one, and the leasing done since
- The paydown, if any, you can fund at closing
When the file is ready, submit the office refinance for review. Office programs are summarized on the office loans page.
The bottom line
Banks' third-quarter 2026 filings show office reserves of 7.6% and 7.1% at two regional banks, against 2.52% on all commercial real estate and 1.74% on investor real estate, office balances down 10% year over year at one bank and total CRE down about 9% at another, and 35% to 66% of office exposure or balances maturing within a year at the two banks that disclose it. A bank renewal is still available for stabilized, low-leverage office. Anything else should arrive with current numbers, a funded paydown plan and a second lender's terms.