Tangible Book Value Hits Are an Underappreciated Headwind to Bank Stock Performance, but Are We Approaching an Inflection Point?

Trends in tangible book value growth over time are a staple of bank stock valuation analysis “…we believe tangible book value per share is a good measure of the value…

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3 Community Bankers Weigh in on the Magnitude of Independence

Community banks are intrinsically woven into the fabric of American society.  They provide an array of valuable services, not the least of which includes being the financial catalyst for a…

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Value Creation and M&A: How Johnny Allison’s Home Bancshares Became A Top Performer

John Allison, Chairman and CEO of Home Bancshares, is one of the great value creators in the bank sector over the past 3+ decades. Through the lens of his experience,…

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Is the M&A Tide Finally Turning in Favor of the Acquirers?

The market has been mostly hostile to M&A announcements so far this year… We’ve written several articles this year on the topic of M&A; more specifically, the generally poor reaction…

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Bank M&A Has Accelerated as Expected, Though Market Reaction Remains Muted

The market has cast a wary eye toward the stocks of most acquisitive banks.  For several months now, we’ve noted that while we expected the pace of bank M&A to pick…

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For Investment Bankers, a Shifting M&A Landscape Demands Adaptability (and Creativity)

The business model at investment banking firms serving the regional and community bank sector over the past few decades has worked very well, helped by an extraordinary level of deal activity,…

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Counter-Trend M&A Can Often Prove The Wisest Course In The Long Run

M&A waves typically reflect a “follow-the-herd” mentality.  More often than not, periods of heightened bank sector M&A activity seem to be driven by a few common themes in each cycle.  But…

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Surprising Trends Around Recent Bank M&A

LIKE THE SUMMER HEAT, M&A ACTIVITY HAS SPIKED, AND IN MANY WAYS SEEMS FAIRLY CONVENTIONAL. A number of high-profile M&A transactions — like M&T / People’s United; Webster / Sterling;…

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Is a Massive M&A Wave on the Way?

Pre-COVID, the bank sector was ripe for consolidation. I remember thinking heading into this year that it was likely to be an active one for M&A, for a variety of…

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Virginia is for Mergers: Insights on the MOE Trend in Banking – an interview with two dynamic ​CEOs in Southern Virginia

Charlottesville, VA-based Blue Ridge Bankshares and Richmond, VA-based Bay Banks of Virginia announced a $100 million merger on August 13th.  This MOE marks a possible trend that may be more…

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Depository Investment Bankers Unplugged – ​Northeast & Mid-Atlantic Edition: Strategies, Advice, and M&A in a Revenue-Challenged Environment

The Travillian Group hosted three top Northeast and Mid-Atlantic focused depository investment bankers in a discussion about how they’re advising their bank clients today. Topics included M&A, strategies around operational…

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Gazing into the Bank M&A ​Crystal Ball

While I have resided in bigger cities since high school, I grew up in a small town in the South. Fishing, either from the shore or a small boat was…

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