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Commercial Real Estate Credit —
Oklahoma City, OK
The state of disclosed CRE credit in this market · OK
The read
$331M of CMBS across 26 loans. Distress is rising in the filed record — 20.5% as of 2026-07. The heaviest maturity load lands in 2029 ($180M, 54% of the book). 4 on-the-ground distress events in the past year.
Overview
CMBS
Submarkets
Local Banks
Jobs & Demand
On The Ground
Loading map…
The CMBS properties our stress model flags here, plus recent store closures and layoffs. Stressed is a wider net than distressed — the distressed figure above counts only loans already in special servicing or 60+ days delinquent, while these dots also include performing loans facing maturity or coverage pressure. Property dots sit at the center of their ZIP code, not the building — they show where stress concentrates, not which asset. Closures and layoffs are pinned to address where we have it. Open any dot to the building and the loan behind it →
Oklahoma City's distress rate climbs as the book bunches toward 2029
Oklahoma City is a small, concentrated CMBS market: $331M across just 26 loans. That compact footprint means individual credits carry weight, and the filed record has turned. The metro's distress rate — loans in special servicing or 60-plus days delinquent — stood at 20.5% as of July 2026, and it has been rising. Against that, the median debt-service coverage ratio of 1.72 points to a book that, in aggregate, still covers its payments, even as the troubled share widens.
The weight of this book sits in one year. Some $180M — 54% of the outstanding balance — matures in 2029, the single heaviest maturity load on the calendar, with the near-term runway through 2028 comparatively light. That concentration is the number to watch here: the metro's refinancing question is deferred rather than immediate, but when it arrives it arrives all at once.
On the ground, the signals corroborate the direction. The past year brought four distress events across the metro — a mix of store closures and layoff notices — and among the 29 banks tracked, four are flagged as distressed with another nine on early warning. Unemployment, at 3.9% in August 2026, has drifted up half a point over the year. None of it is dramatic on its own, but in a market this size the pattern reads clearly: the record is moving the wrong way.
Written 2026-10-05
CMBS Distressed UPB
Not reported
fewer than 3 loans are distressed here, too few for the share to be a rate — the book size and loan count above are unaffected
CMBS Maturing ≤ 24mo
$75M
Banks HQ’d Here (stressed)
4 / 29
Bank Early-Warning
9 flagged
Store Closures (1y)
2
Layoff Notices (1y)
2 / 0 jobs
CMBS Loans / UPB
26 / $331M
Unemployment · Aug 2026
3.9%
+0.5pp yr
How much CRE distress is there in Oklahoma City, OK right now?
Oklahoma City shows two of four legs elevated, with bank CRE at lenders over the noncurrent line at $1.71bn and a 6.86% rate, and securitized loans in special servicing at 6 loan records and 4.23% (a floor, measured over 33.3% of the special-servicing rows). Store closures read 2 closures at 0.36 per 100k jobs, while layoff notices (WARN) show 2 notices with no rate — that leg cannot be read here, so its low count is an absence of measurement, not evidence of quiet. Of six pairs of legs compared, 1 has both legs elevated, 0 have both legs quiet, 2 disagree and 3 cannot be read because a leg is blind; the bank and tape legs agree hot, and the two readable disagreements pair bank and tape stress with quiet closures.
The figures behind this answer
| Signal | Level | Rate | Rank by count | Rank by rate | Reading |
|---|---|---|---|---|---|
| store closures store closures per 100,000 jobs |
2 closures | 0.36 per 100k jobs | 202 of 392 | 330 of 392 | quiet trailing 365 days to today
|
| layoff notices (WARN) workers on layoff notices as a share of the metro's employment |
2 notices | — | — | — | cannot be read
not measurable trailing 365 days to today
|
| bank CRE at lenders over the noncurrent line share of the CRE lent into this metro that sits at a lender over the blended-noncurrent line |
$1.71bn | 6.86% | 29 of 393 | 102 of 393 | elevated
allocated 2026-06-30
|
| securitized loans in special servicing share of the securitized balance read here that is in special servicing |
6 loan records | 4.23% | 29 of 335 | 79 of 335 | elevated
floor 2026-09-29
|
6 pairs compared
1 both elevated
0 both quiet
2 disagreeing
3 unreadable — a side is blind
2 of four legs elevated
blind: layoff notices (WARN)
one metro, four independent feeds, each on its own denominator
124 of 447 metros have at least one blind leg and 54 are blind on all four. Those 54 are the same metros the board's map cannot place and the metro resolver cannot name: one ZIP-to-CBSA crosswalk boundary, showing up three ways.
Elevation is computed on the COUNT, over a flat threshold, which is a size filter. New York is 2nd of 392 by store closures and 264th of the same 392 by closures per job — both true, and which one you lead with decides what the reader believes.
Where two legs disagree, that is usually a fact about WHICH mechanism is running, not an error in either feed and not a worse metro.
A leg with no denominator, or whose numerator cannot be measured, reads LOW and means nothing. Each leg publishes a measurement state (allocated, floor, measured, no denominator, no rate, not measurable) for that reason.
a blind leg is not a quiet one — layoff notices (WARN) cannot be read here. Their low numbers are an absence of MEASUREMENT.
Store closures: divided by 548,618 jobs
— all metro jobs, QCEW annual average — a SIZE normaliser, not a matched population: the feed spans retail, food service and pharmacy and no single QCEW sector covers it. The MATCHED read sits beside it as this leg's second reading (trailing 365 days to today).
Layoff notices (WARN): divided by 746,699 employed
— employed persons, BLS LAUS, not seasonally adjusted (trailing 365 days to today).
Bank CRE at lenders over the noncurrent line: divided by $24,946.5 mm
— bank CRE allocated to this metro by branch deposits (2026-06-30).
Securitized loans in special servicing: divided by $331.0 mm
— current balance on the non-pari-passu rows of this tape — the trust's slice, not the whole loan, on both sides of the ratio (2026-09-29).
Written from the figures above · CBSA 36420 · stress_metro · last changed 01 Nov 2026
· Ask your own question →
Jobs & Demand — the labor market under the collateralWatch it change →
Every other zone on this page reads the credit — what the loan is doing.
This one reads the demand underneath it. Office jobs pay office rent;
office rent services the office loan. When the jobs go, the DSCR follows — but not for another year or two.
That lag is the whole point of looking here.
Unemployment · Aug 2026
3.9%
+0.5pp yr
Last 24 months
2.5%4.3%
Monthly metro unemployment (BLS LAUS) — the freshest labor signal there is,
about six weeks behind. Read the direction, not the level: a 4% metro that is rising and a 6% metro that is
falling are not telling you the same thing.
Jobs by CRE-relevant sector · 2024
Annual employment by sector (BLS QCEW, 2024; 548,618 jobs in the metro).
QCEW lags — it is the structural read, not the current one, and we pair it with the monthly unemployment above on purpose.
Office-using sums five supersectors; where BLS withholds any one of them for
disclosure, we show nothing rather than a number we know is too low — so a missing sector here means
“suppressed at the source,” not “zero.”
Sector Heat — CMBS distress rate by property type (metro vs national)See the loans behind the bar →
Fewer than 3 loans here are distressed, too few for a distress rate to mean anything — so there is no rate to test against this metro's property mix.
No CMBS sector data for this metro.
Maturity Wall — CMBS coming due by year, distress within eachSee what’s maturing →
$75M — 23% of the metro's balance — matures within two years; the red slice of each bar is already distressed.
Distress Trend — is this market turning?Track it quarter by quarter →
Realized distress is RISING — 20.5% now (2026-07), +1.6pp over the year.
Same definition as the cards above — distressed means in special servicing or 60+ days delinquent, dollar-weighted — on a different clock. The cards are today’s tape; this is the disclosed history panel, quarter by quarter, so you can read direction rather than level. Trusts file monthly, so a quarter is usually well covered within weeks of opening and the newest one shown is normally the current one; it is withheld only when its filed book falls below 60% of recent quarters.
Share of the metro’s CMBS in special servicing or 60+ days delinquent, by quarter — a firmer, backward-looking read. A loan under 1.0x DSCR that is still paying is not counted here.
Submarket Heat — where in the metro the distress sitsOpen the submarket →
The top three submarkets hold $240M of the metro's $331M; each bar's colored share is its distress rate.
Bank Door — what the local bank sector could absorbSee it on every loan’s exit read →
$75M of CMBS matures here within two years.
The 43 regional and local banks that gather deposits here could write roughly
$2.4B more CRE before the 300% supervisory line, so the maturing balance is
0.03× that room.
The median metro sits at 0.13×.
Regional Bank Room
$2.4B
After Committed Draws
$1.4B / −41%
Maturing ÷ Room
0.03×
Banks In Footprint
43 / 9 at the line
The room above is already part-sold. Construction lending is a promise drawn
down over two or three years, and the undrawn part is an obligation the bank cannot decline while the borrower performs
— every one of those dollars lands in the same CRE book the 300% line governs. These banks
have $1.5B of construction committed and not yet
advanced, of which $967M
comes out of the room above, leaving $1.4B,
with 19 banks
whose entire remaining room is spoken for.
A bank with no room contributes zero here, never a negative one — capacity does not net
across balance sheets — so $573M of what has
been promised is not deducted at all, because there is nothing left to deduct it from. On today’s
capital that is funding already contracted which would cross the line as it draws.
SR 07-1 draws a second line at 100% of capital for construction and land:
12 of 43
are past it on drawn balances alone, and
18 more cross it
once their own commitments fund.
Counted — 43 regional & local CRE lenders
| Bank | Deposit share | CRE / Capital* | Room contributed | Noncurrent CRE |
|---|---|---|---|---|
| Bancfirst OK | 45.3% | 160% total 216%
|
🔒 | 0.92% |
| International Bank Of Commerce OK | 47.9% | 127% total 173%
|
🔒 | 0.83% |
| The First National Bank And Trust Co., Chickasha, Oklahoma OK | 100.0% | 149% total 213%
|
🔒 | 2.05% |
| Arvest Bank AR | 6.5% | 213% total 265%
|
🔒 | 0.47% |
| Prosperity Bank TX | 1.8% | 171% total 228%
|
🔒 | 0.18% |
| F&m Bank OK | 77.9% | 169% total 258%
|
🔒 | 0.77% |
| Armstrong Bank OK | 24.9% | 204% total 272%
|
🔒 | 0.09% |
| Bank 7 OK | 48.6% | 252% total 301%
|
🔒 | 0.54% |
| Intrust Bank, National Association KS | 6.1% | 189% total 251%
|
🔒 | 0.54% |
| Chickasaw Community Bank OK | 79.2% | 220% total 256%
|
🔒 | 2.80% |
| First National Bank Of Oklahoma OK | 57.8% | 236% total 392%
|
🔒 | 1.96% |
| Equity Bank KS | 7.4% | 237% total 305%
|
🔒 | 0.48% |
| Liberty National Bank OK | 27.9% | 214% total 300%
|
🔒 | 0.00% |
| All America Bank OK | 60.0% | 225% total 303%
|
🔒 | 6.81% |
| First United Bank And Trust Company OK | 8.6% | 280% total 344%
|
🔒 | 1.37% |
| Gateway First Bank OK | 12.1% | 214% total 229%
|
🔒 | 3.37% |
| Great Plains National Bank OK | 24.9% | 243% total 333%
|
🔒 | 2.30% |
| Fnb Community Bank OK | 100.0% | 257% total 324%
|
🔒 | 3.85% |
| Sooner State Bank OK | 91.2% | 242% total 297%
|
🔒 | 0.10% |
| Mcclain Bank OK | 100.0% | 223% total 309%
|
🔒 | 0.12% |
| Vision Bank OK | 19.8% | 201% total 232%
|
🔒 | 2.81% |
| First Bank & Trust Co. OK | 17.4% | 224% total 276%
|
🔒 | 7.09% |
| Corebank OK | 73.5% | 115% total 164%
|
🔒 | 0.00% |
| Ynb OK | 100.0% | 243% total 310%
|
🔒 | 0.00% |
| Great Nations Bank OK | 100.0% | 196% total 356%
|
🔒 | 0.00% |
| First Liberty Bank OK | 93.6% | 288% total 352%
|
🔒 | 0.00% |
| Frazer Bank OK | 13.5% | 166% total 235%
|
🔒 | 0.00% |
| Mabrey Bank OK | 5.9% | 240% total 402%
|
🔒 | 0.51% |
| The Farmers Bank OK | 41.1% | 253% total 312%
|
🔒 | 0.00% |
| The City National Bank And Trust Company Of Lawton, Oklahoma OK | 13.3% | 273% total 315%
|
🔒 | 0.00% |
| First National Bank And Trust Company Of Ardmore OK | 1.4% | 161% total 245%
|
🔒 | 0.00% |
| Bank Of Commerce OK | 10.1% | 265% total 321%
|
🔒 | 0.41% |
| Shamrock Bank, N.a. OK | 1.6% | 227% total 287%
|
🔒 | 0.25% |
| The Bank Of The West OK | 3.8% | 297% total 331%
|
🔒 | 0.00% |
| First Enterprise Bank OK | 100.0% | 339% total 468%
|
🔒 | 9.21% |
| Valliance Bank OK | 79.8% | 380% total 534%
|
🔒 | 0.86% |
| Kirkpatrick Bank OK | 79.2% | 384% total 449%
|
🔒 | 0.00% |
| First Fidelity Bank OK | 70.0% | 308% total 462%
|
🔒 | 0.49% |
| Legacy Bank OK | 45.6% | 300% total 381%
|
🔒 | 4.63% |
| Sovereign Bank OK | 33.7% | 389% total 478%
|
🔒 | 0.00% |
| Regent Bank OK | 18.4% | 300% total 425%
|
🔒 | 3.16% |
| Interbank OK | 15.8% | 451% total 470%
|
🔒 | 2.57% |
| Fidelity Bank, National Association KS | 8.2% | 323% total 412%
|
🔒 | 0.62% |
Not counted — 24 banks with deposits here
These hold deposits in this metro but are left out of the capacity above, because for them deposit location stops indicating where they lend — or they do not lend CRE at all. Real money that could refinance here is deliberately not counted.
no CRE book — CRE under 100% of capital — not a CRE lender
Jpmorgan Chase Bank, National Association OH · Bank Of America, National Association NC · First-Citizens Bank & Trust Company NC · Rcb Bank OK · The First Bank Of Okarche OK · Bmo Bank National Association IL · Commerce Bank MO · The Payne County Bank OK
national — operates in more than 5 states, so deposits stop indicating where it lends
Midfirst Bank OK · Bokf, National Association OK · Busey Bank IL · Umb Bank, National Association MO · The Central Trust Bank MO · Simmons Bank AR
booked here — books nearly all deposits to one branch — a charter address, not a footprint
Watermark Bank OK · First Security Bank And Trust Company OK · The Citizens Bank Of Edmond OK · Stride Bank, National Association OK · First Bethany Bank & Trust OK · Prism Bank OK · Valor Bank OK · Quail Creek Bank OK · Frontier State Bank OK · The Bankers Bank OK
* Two ratios, two perimeters.
The large figure is supervisory CRE over total risk-based capital —
construction, multifamily and non-owner-occupied nonfarm nonresidential. That is the book SR 07-1 draws its
300% line against, and it is what the red coloring and the room contributed are both measured on.
Total beneath it adds owner-occupied CRE — lending to a business on
its own premises — which the guidance deliberately leaves out. A bank can sit well above 300% on total CRE and
still be inside the line, with real room to lend; both are shown so the gap is visible rather than surprising.
How to read this. It is not whether any particular loan can refinance — a borrower also reaches
national banks, life companies, agencies and debt funds. It is how much of this metro’s maturing volume the local
bank sector could absorb if it were the only door.
Banks are placed by deposit share (FDIC Summary of Deposits, June 2026) — a proxy for
where they lend, not a measurement; call reports carry no collateral geography. Room = 3× total risk-based capital less CRE held
(SR 07-1, the capital base the rule names — not book equity), from Q2 2026 call reports, apportioned by that share.
Committed construction comes from FFIEC Schedule RC-L as filed at 2026-06-30 —
the undrawn half of loans already written, which the balance sheet above does not show.
Banks in more than 5 states, single-branch bookers and banks that do not lend CRE are excluded —
315 banks holding $263.8B of national capacity not counted here.
Local Lenders — banks headquartered here, worst CRE noncurrent firstUnlock each bank’s early-warning flag →
| Bank | Total CRE | CRE / Capital* | Noncurrent CRE | Early Warning |
|---|---|---|---|---|
| First Enterprise Bank | $97M | 339% total 468%
|
9.21% | 🔒 |
| All America Bank | $211M | 225% total 303%
|
6.81% | 🔒 |
| Frontier State Bank | $325M | 416% total 468%
|
5.94% | 🔒 |
| Fnb Community Bank | $184M | 257% total 324%
|
3.85% | 🔒 |
| Midfirst Bank | $9.3B | 161% total 226%
|
1.34% | 🔒 |
| International Bank Of Commerce | $461M | 127% total 173%
|
0.83% | 🔒 |
| Bank 7 | $834M | 252% total 301%
|
0.54% | 🔒 |
| Mcclain Bank | $86M | 223% total 309%
|
0.12% | 🔒 |
* Two ratios, two perimeters.
The large figure is supervisory CRE over total risk-based capital —
construction, multifamily and non-owner-occupied nonfarm nonresidential. That is the book SR 07-1 draws its
300% line against, and it is what the red coloring and the room contributed are both measured on.
Total beneath it adds owner-occupied CRE — lending to a business on
its own premises — which the guidance deliberately leaves out. A bank can sit well above 300% on total CRE and
still be inside the line, with real room to lend; both are shown so the gap is visible rather than surprising.
Banks are matched to their HQ metro (a proxy for footprint). Noncurrent CRE = CRE-balance-weighted blend of multifamily / nonresidential / construction noncurrent (distress already arrived). Early Warning is a validated leading signal — the bank’s 30-89 early-delinquency rank among all CRE lenders this quarter, which has predicted ~2.3× forward CRE distress. Per-bank flags are on a plan.
On The Ground — recent closures, layoffs & CRE bankruptciesTie these events to loans →
4 local distress events in the past year — store closures, layoffs, and commercial real estate bankruptcies near this metro's collateral.
2026-09-30
CLOSURE
Oklahoma City
2026-08-17
LAYOFF
Oklahoma City
2026-04-01
CLOSURE
Guthrie
2025-12-03
LAYOFF
Oklahoma City
2025-10-01
LAYOFF
Oklahoma City
2023-04-04
LAYOFF
Oklahoma City
2023-02-23
LAYOFF
Oklahoma City
2022-07-07
LAYOFF
Oklahoma City
2021-05-13
LAYOFF
Oklahoma City
2021-02-08
LAYOFF
Oklahoma City
2020-08-27
LAYOFF
Oklahoma City
2020-08-17
LAYOFF
Norman
2020-07-07
LAYOFF
Oklahoma City
2020-06-26
LAYOFF
Oklahoma City
What has actually happened on the ground in Oklahoma City, OK recently?
Over the trailing 365 days in Oklahoma City, OK, the verified ground-level readings show 2 approved store closures, 2 WARN notices, 0 jobs affected, and 0 CRE bankruptcies. Note that jobs affected is a floor because notices stating no headcount still count but contribute 0 jobs, and the CRE bankruptcy figure is a state proxy rather than a metro-native count.
The figures behind this answer
- Store closures
- 2
- WARN layoff notices
- 2
- Jobs on those notices
- 0
- CRE-related bankruptcies
- 0
- Window, in days
- 365
STATE PROXY — a court case counts in its filing district and an SEC 8-K in the filer's state, not where the property is, so this counts CRE-likely filings in the states this metro's collateral sits in. It is not a metro-native count. Each court case is counted once even when both PACER and CourtListener carry it. A court case's state is its filing district; an SEC 8-K or news item carries the filer's state. Coverage widened to both court feeds on 2026-09-16, so counts before and after that date are not comparable.
affected_employees is nullable — notices that state no headcount are counted but contribute 0 jobs, so this is a floor.
Closures are matched ZIP -> CBSA and only APPROVED rows count (a pending, machine-extracted row is not yet a closure). This mirrors the Metro Pulse page, not the convergence board — the board applies neither filter and counts higher. Layoffs take the same ZIP -> CBSA and review treatment, and a WARN notice counts if it affects >= 10 people or does not state a headcount (a NULL is not 'fewer than 10').
Written from the figures above · CBSA 36420 · geo_events · last changed 04 Oct 2026
· Ask your own question →
What this page can’t do
Everything above is a snapshot — one market, as it stands today, and
it’s yours to read. What a snapshot can’t tell you is when it moves: which loan slipped a DSCR band
this month, which bank’s early-warning rank crossed into the top quartile, which submarket started turning
while the headline number still looked fine. Distress doesn’t announce itself on the day you happen to check.
This page
One metro · one moment · you come looking.
Verstavo
Every metro · every month · it comes looking for you.
CMBS covers the securitized slice of CRE; bank, closure and layoff signals widen the view.
“No data” in a zone means we don’t observe it here, not that there is no stress.
Employment is BLS (QCEW annual, LAUS monthly) — public data, and the demand leg under all of it.
See the whole picture, not just the pulse.
Metro Pulse is the free, public read — one page for every market we cover. The platform goes loan‑by‑loan inside it: which buildings carry the stress, when their debt comes due, and your own portfolio benchmarked against the market you are standing in.