Follow on Google News News By Tag Industry News News By Location Country(s) Industry News
Follow on Google News | Bankers attending Commerce Street Capital's Conference Heard it's a Great Time to Buy BanksBy: Commerce Street Capital A key theme of this year's conference was the impact global and national issues have on local community banks. In opening the conference, CSC's Chairman Tex Gross welcomed attendees andsaid, "Whether you are in Bowie, Bellville or Beaumont, today, you must have a world view." Reva Bhalla, Vice President of Global Analysis for Stratfor Global Intelligence (https://www.stratfor.com/) "As community bankers we have a lot of insight into our local economy, but banking is very much influenced by world issues," remarked Dory Wiley, CSC's CEO and President, as he began his overview of the banking industry. "Indications are the 2016 market will continue to be volatile based upon weakness in the U.S and world economy and political instability across the globe. This volatility presents a buying opportunity for banks." Speaking on the stock market, Dory explained that, "The stock market should produce 3 to 5 percent returns with bank stock returns potentially outperforming, at closer to 10 percent return." C.K. Lee, Managing Director of the Financial Institutions Group at CSC discussed bank M&A noting that consolidation will continue to lag due to the energy market downturn and decreases in acquirer currencies. In 2015, bank M&A deal value reached $26.6 billion compared to $18.8 billion in 2014. So far this year, only $6.6 billion in bank deal announcements have been made. "There will be buying opportunities of banks in rural areas due to succession and demographics," John D. Steinmetz, President and CEO of Vista Bank (https://www.vistabank.com/ John Mauldin, Chairman of Mauldin Economics (http://www.mauldineconomics.com/) Dory Wiley, Mark Whidby and Greg Mykytyn of Commerce Street Peak Advisors discussed organizations reducing risk and improving performance within their 401(k) plans. Brian Johnson, Managing Director in CSC's Financial Institutions Group, moderated a panel that discussed recruiting top talent for banks and boards. The panel, which included Tommy Ellison, Chairman of the Board of Commercial Bank of Texas (https://www.cbtxonline.com/ Guillermo Borda of CSC discussed the Community Reinvestment Act (CRA) credit. Borda explained that banks should develop a portfolio of public welfare investments by investing in assets such as SBICs, Low Income Tax Credit Funds, CRA Mutual Funds and MBS. Danielle DiMartino Booth, President of Money Strong, LLC (http://dimartinobooth.com/) About Commerce Street Capital Commerce Street Capital, LLC ("CSC") is a private investment banking firm headquartered in Dallas, Texas. CSC is a member of FINRA/SIPC. This press release is for information purposes only and does not constitute a solicitation or offer by Commerce Street Capital, LLC, to buy or sell any securities, futures, options, foreign exchange or other financial instrument or to provide any investment advice or service. The testimonials stated within this press release may not be representative of the experience of other clients. The testimonials stated within this press release are not indicative of future performance or success. The testimonials stated within this press release are not paid testimonials. End
Account Email Address Account Phone Number Disclaimer Report Abuse
|
|