Articles

And the Winner is…?

March 15, 2017 - 3 min read

Bank stocks. And no, I have not been handed the wrong envelope. Nor is this the analogous case of an unheralded #16 Seed knocking off a dominant #1 blue-blood in the NCAA basketball tournament that has become “March Madness” – shocking, but likely short-lived. As the chart below reflects, bank stock prices literally came to…

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Do the CCAR Scenarios Signal Regulatory Focus?

February 16, 2017 - 7 min read

Do the CCAR (Comprehensive Capital Analysis and Review) scenarios signal regulatory focus? Put another way have preliminary indications about regulatory concern over developing CRE concentrations been subtly reinforced in this year’s stress scenarios? Some folks, particularly my family, might accuse me of probably diving a little too deep into numbers at times. I am sure…

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Welcome 2017

January 10, 2017 - 2 min read

As the Historical vs. Current P/E Multiples chart below graphically depicts, relative P/E multiples across the banking landscape have elevated since the election, particularly when looking at the smaller and mid-cap institutions within the sector. Last year brought about its share of uncertainty and volatility (Brexit vote, Trump victory, expectations of four interest rate hikes…

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Might We See a Resurgence in De Novo Activity?

December 14, 2016 - 7 min read

As the chart below graphically depicts, de novo bank charters have all but disappeared from the banking industry landscape coming out of the financial crisis. Between 2000 and 2008, new charter formation reflected on average more than 150 institutions entering the banking sector PER YEAR. Since 2011, six new bank charters have been granted, with…

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Our Nation Will Survive…But Will Branches?

November 8, 2016 - 6 min read

After one of the most contentious, acrimonious, and, quite honestly at times, incredibly bizarre Presidential election cycles, the electorate has made its choice. This piece is going to print as the polls remain open and the Nation decides who will occupy the White House for the next four years. I sense that, as in the…

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Where Have You Gone, Chick Fisher?

October 12, 2016 - 6 min read

For those steeped in Michigan’s banking history, the name, Chick Fisher, needs no explanation. The late Charles T. “Chick” Fisher was the long-time, legendary chairman and chief executive officer of the former Detroit-based NBD Bancorp, an operation that grew to nearly $48 billion in consolidated assets before announcing (less than two years after his retirement)…

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A Few Good Bankers

September 23, 2016 - 4 min read

While this represents a slight departure from our monthly Michigan Banking Summary (which will be updated in a few weeks with the release of the October 2016 edition), I couldn’t help but chuckle (and wince) as I caught snippets of Wells Fargo Chief Executive Officer John Stumpf’s testimony before the Senate Banking Committee on Capitol…

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Because It’s All About That Brexit…About That Brexit…About That Brexit!

September 12, 2016 - 5 min read

With a quick nod to Meghan Trainor for the opening line, the question becomes “Is it?” After all of the uncertainty surrounding the United Kingdom’s historic vote, the markets seemed to just as quickly absorb the perceived (short-term) and real (long-term) angst of the British voters’ decision to exit the European Union. Clearly, it will…

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