financial advisory

Banking’s Top Five Total Return to Shareholders: 2021 Edition

For the past decade I searched for the Top 5 financial institutions in five-year total return to shareholders because I support long-term strategic decision making that may not benefit next […]


Fintech Buys Bank. Keeps Stratospheric Valuation.

Imagine a fintech, with off-the-chart valuations such as 2.6x book value and 51x EBITDA, buying a bank. For 1.85x book. In today’s M&A valuations, 1.85x is pretty lofty. Especially for […]


Twitter Reacts to M&T / Peoples United Bank Deal

The headlines for subject deal, which dealmakers hope beyond all hope starts a robust bank M&A frenzy, were like the following: (you can click on articles and tweets to enlarge) […]


Is Your Contemplated Bank Merger Anti-Competitive

Yesterday at the ABA’s virtual Conference for Community Bankers (CCB), Federal Reserve Governor Michelle Bowman gave a speech, My Perspective on Bank Regulation and Supervision. In that speech, she briefly commented […]


Banks On Sale

My bank stock portfolio was comfortably in the black, with a solid 2.5% dividend yield at year-end. My have times changed. Before I begin, I feel compelled to disclose that […]


Bank Director’s Acquire or Be Acquired Conference: Top Tweets

I attended my first Acquire or Be Acquired conference in the Arizona desert. Bank Director does a great job on organization, content, and promotion. They established the #aoba20 hashtag that […]


Why Did Oritani Sell for No Premium?

On June 25th, Oritani Financial Corp (ORIT) common stock closed at $16.21 per share. The next day they announced they were selling to Valley National Corp. for $16.29 per share. […]


Why SunTrust and BB&T? Why?

I know on the investor conference call, Kelly King of BB&T and Bill Rogers of SunTrust spoke to why. But I may not have been listening well. I suppose much […]


For Financial Institutions, What Drives Value?

Not all financial institutions are publicly traded. But there are enough of them to help those that do not trade to measure what metrics drive the value of their franchise. […]