- Most M&A activity will continue to take place among banks with assets between $1 billion and $10 billion.
- For an acquirer, the level of underwriting for deposits can be more rigorous then underwriting for loans. Indeed, because of BSA & AML concerns, it takes a high degree of effort to realistically measure the risk of buying “someone else’s cooking.”
- This year’s keynote, Richard Davis, is the Chairman & CEO of U.S. Bank — which has $446 billion in assets. FWIW, he started his career as a bank teller at Security Pacific Bank in Los Angeles on his 18th birthday.
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Over the past decade, U.S. Bank’s consistent results made it, according to the Wall Street Journal, a darling with investors and analysts. While impressive, their CEO’s perspectives on where we are now — and where we might be heading — inspired this short video recap.
In addition to his remarks on building a great team, his perspectives on technology struck a real chord given my background (I worked at great technology company in Bethesda, MD for 6+ years). Specifically, his encouragement to focus on:
- Real time payments
- Open APIs
- Identity management
- Distributed ledger / blockchain
- Internet of things (IoT)
- Machine learning
In subsequent posts, I’ll elaborate on these issues. But for those interested in following the conference conversations that are more M&A-oriented via our social channels, I invite you to follow me on Twitter via @AlDominick, the host company, @BankDirector and its @Fin_X_Tech platform, and search & follow #AOBA17 to see what is being shared with (and by) our attendees.