Delinquency rates on residential, commercial and industrial loans improved slightly during the first quarter, commercial loan analytics firm Trepp LLC said Thursday. The data firm doesn’t expect substantial improvement in commercial loan delinquencies, which means the recovery has bottomed out to a certain extent, based on Trepp’s data. “Our detailed research through earnings reports and call report filings from smaller banks indicates that the recovery in delinquency rates that began in the second quarter of 2010 appears to have stalled,” said Matt Anderson, managing director of Trepp. The report is a rough estimate of what Trepp predicts for the first quarter in terms of delinquency rates. While loan delinquency rates are likely to decline in all loan categories in the first quarter, the company expects to see a slight increase in delinquencies associated with construction loans. More specifically, Trepp expects a construction loan delinquency rate of 18.3% for the first quarter, compared to 18% for the prior period. Write to Kerri Panchuk.