PE's Punch, Cautious Forecasts, and the Dodd-Frank Drag
May 24, 2012 12:23 PM
Investor Cries Foul
"Bureaucrats fear private equity players as slippery, clever sharpies ."
—Wilbur Ross, chairman and CEO of WL Ross & Co. (Image: Michael Chu)
Regulators Fight Back
"Replace private equity fund with Wal-Mart and then see how you feel about them having a controlling influence over a depository institution ."
—Federal Reserve lawyer Amanda K. Allexon (Image: Bloomberg News)
Cautious Forecast
"I don't think the tsunami of consolidation is right upon us," though bank M&A will increase, said Thomas B. Michaud , the chief executive of Keefe, Bruyette & Woods (KBW). (Image: Michael Chu)
Tough Love For Community Banks
—Greg Mitchell, CEO of First PacTrust (FPTB) (Image: Michael Chu)
The Dodd-Frank Effect (Small Banks)
"There are relatively the same number of motivated sellers of financial institutions … but the uncertainty of the implementation of Dodd-Frank is a natural concern" that makes buyers hesitate.
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The Dodd-Frank Effect (Big Banks)
Approvals of major deals by Capital One and RBC were "much more painful and took a lot longer time. That kind of process delay affects people's willingness to go forward with mergers."
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Problem Bank List as Lead Sheet
"There is more capital available for troubled banks, and there are a lot of institutions looking for pre-failure deals. The level of failure deals is going to decline."
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Another Failure Surge to Come?
"I do worry we still have 800-and-some-odd problem banks, [and] we clearly aren't coming out of this recession like we usually do."
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Managing Up
"If the regulators are not your best friend you're talking to regularly, you're going to have a problem ."
—MidSouth Bancorp (MSL) CEO Rusty Cloutier (Image: Michael Chu)
Reassuring the M&A Target's Employees
"We try really hard to tell people, 'You are going to have a job in our retail system.' … There's no point in scaring people ."
—Daryl Byrd, the CEO of Iberiabank (IBKC) (Image: Michael Chu)
