Well, day 2 of AOBA13 is officially complete! Here is a look at some of the sessions I attended today.
- State of the Industry
- Will Sellers’ Pricing Expectations Match Market Capacity?
- What Bank Management & Boards Need to know in 2013
- Non-Competes & Change of Controls
Because this conference focuses on M&A, I find it appropriate to talk about What Bank Management & Boards Need to Know in 2013. This particular session featured John Freechack from Barack Ferrazzano & Al Laufenberg from Stifel Nicolaus Weisel.
This presentation is much like the webcast on the Bank Director website, which is entitled What Bank Management & Boards Need to Know in 2012. A little later in the week I will do a more in depth comparison of the two presentations. I think it will be very interesting to see how much things have changed from one year to the next.
As for today, some of the points brought up were:
- The economic environment is getting better. Right now it is good, but not great.
- Despite the recovery, there is still a sense of uncertainty.
- The overall number of troubled institutions is going down.
- The economy needs to pick up a lot for you to see more buyers on the market.
One thing that is very important to remember is that you never want to make the seller feel like they are being forced to sell. In the current environment, it seems like patience may be a virtue. This can be a long process, and timing is everything.
Now it is time to move onto the cocktail reception, dinner and entertainment portion of the evening. It is still a surprise what the entertainment will be, so I will be sure to fill you all in tomorrow morning!