{"id":{"repo_id":"penn","oai_identifier":"oai:repository.upenn.edu:20.500.14332/62336"},"canonical_url":"https://search.dev.ndltd.org/etd/penn/oai:repository.upenn.edu:20.500.14332/62336","repository":{"repo_id":"penn","name":"University of Pennsylvania","base_url":"https://repository.upenn.edu/server/oai/request"},"display":{"title":"Betting on Commercial Real Estate: Competition in Deposit Markets","abstract":"We show that community banks operating in competitive deposit markets increase their exposure to commercial real estate. Facing rising funding costs and higher beta deposits, these banks shift toward higher-yield and lower duration assets to preserve profit margins and duration match. We test this hypothesis using an exogenous increase in competition from credit unions following a policy change. As certain credit unions begin competing with regional and community banks, branches increase their deposit rates to stay competitive. The banks respond by expanding mortgage origination, both in the number of loans and their total value.","abstract_html":"We show that community banks operating in competitive deposit markets increase their exposure to commercial real estate. Facing rising funding costs and higher beta deposits, these banks shift toward higher-yield and lower duration assets to preserve profit margins and duration match. We test this hypothesis using an exogenous increase in competition from credit unions following a policy change. As certain credit unions begin competing with regional and community banks, branches increase their deposit rates to stay competitive. The banks respond by expanding mortgage origination, both in the number of loans and their total value.","abstract_has_math":false,"creators":["Peeters, Jonas"],"institution":null,"degree_name":null,"degree_level":null,"degree_discipline":null,"degree_department":null,"school":null,"contributors":[],"advisors":["van Binsbergen, Jules, H.","Gomes, Joao, F."],"committee_chairs":[],"committee_members":[],"year":2025,"date_issued":"2025","date_published":"2025","updated_at":"2026-07-24T03:46:32Z","subjects":["Finance and Financial Management"],"languages":["en"],"rights":[],"rights_urls":[],"identifier_entries":[]},"links":{"outbound_url":"https://repository.upenn.edu/handle/20.500.14332/62336","outbound_label":"Repository record","outbound_source":"dc:identifier.uri"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor.advisor","label":"Advisor","values":["van Binsbergen, Jules, H.","Gomes, Joao, F."]},{"key":"dc:creator","label":"Author","values":["Peeters, Jonas"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date.accessioned","label":"Dc Date Accessioned","values":["2026-01-29T17:21:14Z"]},{"key":"dc:date.available","label":"Dc Date Available","values":["2026-01-29T17:21:14Z"]},{"key":"dc:date.issued","label":"Date","values":["2025"]},{"key":"dc:type","label":"Dc Type","values":["Dissertation/Thesis"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Finance and Financial Management"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language.iso","label":"Language (ISO)","values":["en"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier.uri","label":"Identifier URI","values":["https://repository.upenn.edu/handle/20.500.14332/62336"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["2025"]},{"key":"dc:description.abstract","label":"Abstract","values":["We show that community banks operating in competitive deposit markets increase their exposure to commercial real estate. Facing rising funding costs and higher beta deposits, these banks shift toward higher-yield and lower duration assets to preserve profit margins and duration match. We test this hypothesis using an exogenous increase in competition from credit unions following a policy change. As certain credit unions begin competing with regional and community banks, branches increase their deposit rates to stay competitive. The banks respond by expanding mortgage origination, both in the number of loans and their total value."]},{"key":"dc:description.degree","label":"Dc Description Degree","values":["Doctor of Philosophy (PhD)"]},{"key":"dc:title","label":"Title","values":["Betting on Commercial Real Estate: Competition in Deposit Markets"]}]}],"canonical_facts":{"dc:contributor.advisor":["van Binsbergen, Jules, H.","Gomes, Joao, F."],"dc:creator":["Peeters, Jonas"],"dc:date.accessioned":["2026-01-29T17:21:14Z"],"dc:date.available":["2026-01-29T17:21:14Z"],"dc:date.issued":["2025"],"dc:description":["2025"],"dc:description.abstract":["We show that community banks operating in competitive deposit markets increase their exposure to commercial real estate. Facing rising funding costs and higher beta deposits, these banks shift toward higher-yield and lower duration assets to preserve profit margins and duration match. We test this hypothesis using an exogenous increase in competition from credit unions following a policy change. As certain credit unions begin competing with regional and community banks, branches increase their deposit rates to stay competitive. The banks respond by expanding mortgage origination, both in the number of loans and their total value."],"dc:description.degree":["Doctor of Philosophy (PhD)"],"dc:identifier.uri":["https://repository.upenn.edu/handle/20.500.14332/62336"],"dc:language.iso":["en"],"dc:subject":["Finance and Financial Management"],"dc:title":["Betting on Commercial Real Estate: Competition in Deposit Markets"],"dc:type":["Dissertation/Thesis"]},"updated_at":"2026-07-24T03:46:32Z"}